Forum Energy (FET) 10-Q 31 Jul 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 29, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-35504
Entity Registrant Name	FORUM ENERGY TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1488595
Entity Address, Address Line One	10344 Sam Houston Park Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77064
City Area Code	281
Local Phone Number	949-2500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,374,606
Entity Central Index Key	0001401257
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock
Trading Symbol	FET
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 245,648		$ 274,003		$ 517,490	$ 524,234
Cost of sales	182,460		201,334		384,204	384,278
Gross profit	63,188		72,669		133,286	139,956
Operating expenses
Selling, general and administrative expenses	62,881		71,488		131,849	143,579
Transaction expenses	125		59		718	1,395
Intangible asset impairments	0		14,477		0	14,477
Contingent consideration benefit	0		0		(4,629)	0
Loss (gain) on disposal of assets and other	16		(1,303)		36	(1,700)
Total operating expenses	63,022		84,721		127,974	157,751
Earnings (loss) from equity investment	570		350		(279)	(613)
Operating income (loss)	736		(11,702)		5,033	(18,408)
Other expense (income)
Interest expense	8,223		7,861		16,404	15,948
Foreign exchange and other losses (gains), net	(2,146)		(5,860)		131	(2,309)
Gain on contribution of subsea rentals business	0		0		0	(33,506)
Total other expense (income), net	6,077		2,001		16,535	(19,867)
Income (loss) before income taxes	(5,341)		(13,703)		(11,502)	1,459
Income tax expense (benefit)	8,393		1,646		10,120	(11,258)
Net income (loss)	$ (13,734)	$ (7,888)	$ (15,349)	$ 28,066	$ (21,622)	$ 12,717
Weighted average shares outstanding
Basic (in shares)	109,987		108,714		109,816	108,569
Diluted (in shares)	109,987		108,714		109,816	110,821
Earnings (loss) per share
Basic (in USD per share)	$ (0.12)		$ (0.14)		$ (0.20)	$ 0.12
Diluted (in USD per share)	$ (0.12)		$ (0.14)		$ (0.20)	$ 0.11
Other comprehensive income (loss), net of tax:
Net income (loss)	$ (13,734)	(7,888)	$ (15,349)	28,066	$ (21,622)	$ 12,717
Change in foreign currency translation, net of tax of $0	(1,407)	4,834	(18,635)	6,287	3,427	(12,348)
Gain (loss) on pension liability	5	$ (9)	55	$ 16	(4)	71
Comprehensive income (loss)	$ (15,136)		$ (33,929)		$ (18,199)	$ 440

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 37,365	$ 47,241
Accounts receivable—trade, net of allowances of $8,920 and $7,432	180,613	206,055
Inventories, net	469,073	479,023
Prepaid expenses and other current assets	31,520	23,677
Accrued revenue	873	862
Costs and estimated profits in excess of billings	8,438	9,159
Total current assets	727,882	766,017
Property and equipment, net of accumulated depreciation	171,546	177,358
Operating lease assets	53,958
Deferred financing costs, net	1,657	2,071
Intangible assets	341,920	359,048
Goodwill	471,466	469,647
Investment in unconsolidated subsidiary	44,537	44,982
Deferred income taxes, net	0	1,234
Other long-term assets	8,745	9,295
Total assets	1,821,711	1,829,652
Current liabilities
Current portion of long-term debt	1,169	1,167
Accounts payable—trade	137,819	143,186
Accrued liabilities	74,978	81,032
Deferred revenue	8,046	8,335
Billings in excess of costs and profits recognized	2,284	3,210
Total current liabilities	224,296	236,930
Long-term debt, net of current portion	477,982	517,544
Deferred income taxes, net	20,112	15,299
Operating lease liabilities	53,206
Other long-term liabilities	25,904	29,753
Total liabilities	801,500	799,526
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 118,288,651 and 117,411,158 shares issued	1,183	1,174
Additional paid-in capital	1,223,251	1,214,928
Treasury stock at cost, 8,208,588 and 8,200,477 shares	(134,482)	(134,434)
Retained earnings	42,066	63,688
Accumulated other comprehensive loss	(111,807)	(115,230)
Total equity	1,020,211	1,030,126
Total liabilities and equity	$ 1,821,711	$ 1,829,652

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Trade accounts receivable allowance	$ 8,920	$ 7,432
Common Stock, par value (in USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	296,000,000	296,000,000
Common Stock, shares issued (in shares)	118,288,651	117,411,158
Treasury stock (in shares)	8,208,588	8,200,477

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income (loss)		$ (21,622)	$ 12,717
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense		15,067	16,358
Amortization of intangible assets		17,608	20,932
Intangible asset impairments		0	14,477
Inventory write down		1,564	8,002
Stock-based compensation expense		8,262	10,616
Loss from unconsolidated subsidiary		279	613
Contingent consideration benefit		(4,629)	0
Gain on contribution of subsea rentals business		0	(33,506)
Deferred income taxes		6,047	(22,247)
Noncash losses (gains) and other, net		4,493	1,528
Changes in operating assets and liabilities
Accounts receivable—trade		24,087	(15,636)
Inventories		8,333	(52,679)
Prepaid expenses and other assets		(1,268)	(2,122)
Cost and estimated profit in excess of billings		705	109
Accounts payable, deferred revenue and other accrued liabilities		(17,216)	10,978
Billings in excess of costs and estimated profits earned		(926)	4,123
Net cash provided by (used in) operating activities		40,784	(25,737)
Cash flows from investing activities
Capital expenditures for property and equipment		(9,271)	(14,140)
Proceeds from sale of business, property and equipment		425	8,809
Net cash used in investing activities		(8,846)	(5,331)
Cash flows from financing activities
Borrowings of debt		82,000	50,000
Repayments of debt		(123,083)	(91,678)
Repurchases of stock		(1,037)	(2,212)
Net cash used in financing activities		(42,120)	(43,890)
Effect of exchange rate changes on cash		306	(1,153)
Net decrease in cash, cash equivalents and restricted cash		(9,876)	(76,111)
Cash, cash equivalents and restricted cash at beginning of period		47,241	115,216
Cash, cash equivalents and restricted cash at end of period		37,365	39,105
Noncash activities
Assets contributed for equity method investment	[1]	0	18,070
Note receivable related to equity method investment transaction	[1]	$ 0	$ 4,067
[1]	See Note 8 Leases for additional information about noncash activities related to leases and the impact from adoption of ASU 842.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income / (loss)
Balance at beginning of period at Dec. 31, 2017	$ 1,409,016	$ 1,163	$ 1,195,339	$ (134,293)	$ 438,774	$ (91,967)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,302		5,302
Restricted stock issuance, net of forfeitures	(1,607)	4	(1,611)
Issuance of performance shares	(273)	2	(275)
Shares issued in employee stock purchase plan	996	1	995
Contingent shares issued for acquisition of Cooper	125		125
Treasury stock	(66)			(66)
Currency translation adjustment	6,287					6,287
Change in pension liability	16					16
Net income (loss)	28,066				28,066
Balance at end of period at Mar. 31, 2018	1,446,856	1,170	1,199,875	(134,359)	465,834	(85,664)
Balance at beginning of period at Dec. 31, 2017	1,409,016	1,163	1,195,339	(134,293)	438,774	(91,967)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency translation adjustment	(12,348)
Change in pension liability	71
Net income (loss)	12,717
Balance at end of period at Jun. 30, 2018	1,417,975	1,171	1,204,967	(134,404)	450,485	(104,244)
Balance at beginning of period at Mar. 31, 2018	1,446,856	1,170	1,199,875	(134,359)	465,834	(85,664)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,314		5,314
Restricted stock issuance, net of forfeitures	(221)	1	(222)
Treasury stock	(45)			(45)
Currency translation adjustment	(18,635)					(18,635)
Change in pension liability	55					55
Net income (loss)	(15,349)				(15,349)
Balance at end of period at Jun. 30, 2018	1,417,975	1,171	1,204,967	(134,404)	450,485	(104,244)
Balance at beginning of period at Dec. 31, 2018	1,030,126	1,174	1,214,928	(134,434)	63,688	(115,230)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	3,910		3,910
Restricted stock issuance, net of forfeitures	(925)	6	(931)
Shares issued in employee stock purchase plan	684	2	682
Contingent shares issued for acquisition of Cooper	375	1	374
Treasury stock	(48)			(48)
Currency translation adjustment	4,834					4,834
Change in pension liability	(9)					(9)
Net income (loss)	(7,888)				(7,888)
Balance at end of period at Mar. 31, 2019	1,031,059	1,183	1,218,963	(134,482)	55,800	(110,405)
Balance at beginning of period at Dec. 31, 2018	1,030,126	1,174	1,214,928	(134,434)	63,688	(115,230)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency translation adjustment	3,427
Change in pension liability	(4)
Net income (loss)	(21,622)
Balance at end of period at Jun. 30, 2019	1,020,211	1,183	1,223,251	(134,482)	42,066	(111,807)
Balance at beginning of period at Mar. 31, 2019	1,031,059	1,183	1,218,963	(134,482)	55,800	(110,405)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	4,352		4,352
Restricted stock issuance, net of forfeitures	(64)	0	(64)
Currency translation adjustment	(1,407)					(1,407)
Change in pension liability	5					5
Net income (loss)	(13,734)				(13,734)
Balance at end of period at Jun. 30, 2019	$ 1,020,211	$ 1,183	$ 1,223,251	$ (134,482)	$ 42,066	$ (111,807)

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Forum Energy Technologies, Inc. (the “Company,” “we,” “our,” or “us”), a Delaware corporation, is a global oilfield products company, serving the drilling, subsea, completions, 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 intercompany transactions have been eliminated in consolidation. Our investments in operating entities where we have the ability to exert significant influence, but do not control operating and financial policies, are accounted for using the equity method of accounting, with our share of the net income (loss) reported in “ Earnings (loss) from equity investment ” in the condensed consolidated statements of comprehensive income (loss) . These investments are included in “ Investment in unconsolidated subsidiary ” in the condensed consolidated balance sheets. The Company’s share of equity earnings are reported 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 six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 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, 2018 , which are included in the Company’s 2018 Annual Report on Form 10-K filed with the SEC on February 28, 2019 (the “Annual Report”). Change of Segment In the first quarter 2019, we changed our reporting segments in order to align with business activity drivers and the manner in which management reviews and evaluates operating performance. Forum now operates in the following three reporting segments: Drilling & Downhole, Completions and Production. This move better aligns with the key phases of the well cycle and provides improved operating efficiencies. Historically, we operated in three business segments: Drilling & Subsea, Completions, and Production & Infrastructure. We have moved the Downhole product line from Completions to Drilling & Subsea to form the new Drilling & Downhole segment. Completions retains the Stimulation & Intervention and Coiled Tubing product lines. Finally, we renamed Production & Infrastructure as the Production segment. Our historical results of operations have been recast to retrospectively reflect these changes in accordance with generally accepted accounting principles. Refer to Note 11 Business Segments for further information.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
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 we adopt 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 our consolidated financial statements upon adoption. Accounting Standards Adopted in 2019 Stranded Tax Effects from the Tax Cuts and Jobs Act. In February 2018, the FASB issued ASU No. 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. U.S. GAAP requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates, with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income (referred to as “stranded tax effects”). The amendments in this ASU allow a specific exception for reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. In addition, the amendments in this update also require certain disclosures about stranded tax effects. We applied the update beginning January 1, 2019. The adoption of this new guidance had no material impact on our unaudited condensed consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 842”). Under this new guidance, lessees are required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases (finance and operating). The classification as either a financing or operating lease determines whether lease expense is recognized on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new standard as of January 1, 2019 using the modified retrospective transition method which requires leases existing at, or entered into after, January 1, 2019 to be recognized and measured. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We took advantage of various practical expedients provided by the new standard, including: • use of the transition package of practical expedients which, among other things, allows us to carry forward the historical lease classification for existing leases; • making an accounting policy election for leases with an initial term of 12 months or less to be excluded from the balance sheet; and • electing to not separate non-lease components from lease components for all classes of underlying lease assets. The adoption of this standard resulted in the recording of net operating lease assets of approximately $54 million and operating lease liabilities of approximately $65 million as of January 1, 2019. The new standard did not materially affect our Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and six months ended June 30, 2019 . For additional information, please refer to Note 8 Leases . Accounting Standards Issued But Not Yet Adopted Accounting for Implementation Costs Related to a Cloud Computing Arrangement . In August 2018, the FASB issued ASU No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This new guidance aligns the requirements for capitalizing implementation costs incurred by an entity related to a cloud computing arrangement with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Accordingly, this guidance requires an entity to capitalize certain implementation costs incurred and then amortize them over the term of the cloud hosting arrangement. Furthermore, this guidance also requires an entity to present the expense, cash flows, and capitalized implementation costs in the same financial statement line items as the associated hosting service. This new guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and early adoption is permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the impact of adopting this guidance. Fair Value Measurement Disclosure . In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement. This new guidance eliminated, modified and added certain disclosure requirements related to fair value measurements. The amended disclosure requirements are effective for all entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the impact of adopting this guidance. However, we currently expect that the adoption of this guidance will not have a material impact on our unaudited condensed consolidated financial statements. Financial Instruments—Credit Losses. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses (Topic 326), which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. It requires an entity to estimate credit losses expected over the life of an exposure based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are currently evaluating the impact of adopting this guidance.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. For a detailed discussion of our revenue recognition policies, refer to the Company’s 2018 Annual Report on Form 10-K. Disaggregated Revenue Refer to Note 11 Business Segments for disaggregated revenue by product line and geography. Contract Balances Contract balances are determined on a contract by contract basis. Contract assets represent revenue recognized for goods and services provided to our customers when payment is conditioned on something other than the passage of time. Similarly, we record a contract liability when we receive consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract. Such contract liabilities typically result from billings in excess of costs incurred on construction contracts and advance payments received on product sales. The following table reflects the changes in our contract assets and contract liabilities balances for the six months ended June 30, 2019 : June 30, December 31, Decrease $ % Accrued revenue $ 873 $ 862 Costs and estimated profits in excess of billings 8,438 9,159 Contract assets $ 9,311 $ 10,021 $ (710 ) (7 )% Deferred revenue $ 8,046 $ 8,335 Billings in excess of costs and profits recognized 2,284 3,210 Contract liabilities $ 10,330 $ 11,545 $ (1,215 ) (11 )% During the six months ended June 30, 2019 , our contract assets decrease d by $0.7 million primarily due to the timing of orders and billings in our Production Equipment product line and our contract liabilities decrease d by $1.2 million primarily due the timing of billings for customer projects in our Subsea Technologies product line. During the six months ended June 30, 2019 , we recognized revenue of $8.0 million that was included in the contract liability balance at the beginning of the period. In the second quarter 2018, our Subsea Technologies product line received an order to supply a submarine rescue vehicle and related equipment that we expect to deliver in 2020. We use the cost-to-cost method to measure progress on this contract to recognize revenue over time. Other than this contract, all of our other contracts are less than one

Acquisitions & Dispositions

Acquisitions & Dispositions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions & Dispositions	Acquisitions & Dispositions 2018 Acquisition of Houston Global Heat Transfer LLC On October 5, 2018, we acquired 100% of the stock of Houston Global Heat Transfer LLC (“GHT”) for total aggregate consideration of $57.3 million , net of cash acquired. The aggregate consideration includes the estimated fair value (as of the acquisition date) of certain contingent cash payments due to the former owners of GHT if certain conditions are met in 2019 and 2020. Based in Houston, Texas, GHT designs, engineers, and manufactures premium industrial heat exchanger and cooling systems used primarily on hydraulic fracturing equipment. GHT’s flagship product, the Jumbotron, is an innovative cube-style radiator that substantially reduces customer maintenance expense. This acquisition is included in the Completions segment. In the first quarter of 2019, we updated the estimated fair value of the contingent cash payments and recognized a $4.6 million reduction in the contingent cash liability. This gain is included in contingent consideration benefit in the condensed consolidated statement of comprehensive income. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands): Current assets, net of cash acquired $ 18,468 Property and equipment 2,408 Non-current assets 238 Intangible assets (primarily customer relationships) 30,400 Tax-deductible goodwill 20,746 Current liabilities (12,633 ) Long-term liabilities $ (2,355 ) Net assets acquired, net of cash acquired $ 57,272 Revenue and net income for this acquisition were not significant for the six months ended June 30, 2019 . Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements. 2018 Acquisition of ESP Completion Technologies LLC On July 2, 2018, we acquired certain assets of ESP Completion Technologies LLC ("ESPCT"), a subsidiary of C&J Energy Services, for cash consideration of $8.0 million . ESPCT consists of a portfolio of early stage technologies that maximize the run life of artificial lift systems, primarily electric submersible pumps. This acquisition is included in the Drilling and Downhole segment. The fair values of the assets acquired and liabilities assumed as well as the pro forma results of operations for this acquisition have not been presented because they are not material to the consolidated financial statements. 2018 Disposition of Forum Subsea Rentals On January 3, 2018, we contributed our subsea rentals business to Ashtead Technology to create an independent provider of subsea survey and equipment rental services. In exchange, we received a 40% interest in the combined business (“Ashtead”), a cash payment of £ 2.7 million British Pounds and a note receivable from Ashtead of £ 3.0 million British Pounds. Our 40% interest in Ashtead is accounted for as an equity method investment and reported as Investment in unconsolidated subsidiary in our condensed consolidated balance sheets. In the first quarter of 2018, we recognized a gain of $33.5 million as a result of the deconsolidation of our Forum Subsea Rentals business, which is classified as Gain on contribution of subsea rentals business in the condensed consolidated statements of comprehensive income (loss). This gain is equal to the sum of the consideration received, which includes the fair value of our 40% interest in Ashtead, £ 2.7 million British Pounds in cash, and the £ 3.0 million British Pounds note receivable from Ashtead, less the $18.1 million carrying value of the Forum subsea rentals assets at the time of closing. The fair value of our 40% interest in Ashtead was determined based on the present value of estimated future cash flows of the combined entity as of January 3, 2018. The difference between the fair value of our 40% interest in Ashtead of $43.8 million and the book value of the underlying net assets resulted in a basis difference, which was allocated to fixed assets, intangible assets and goodwill based on their respective fair values as of January 3, 2018. The basis difference allocated to fixed assets and intangible assets is amortized through equity earnings (loss) over the estimated life of the respective assets. Pro forma results of operations for this transaction have not been presented because the effects were not material to the consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Our significant components of inventory at June 30, 2019 and December 31, 2018 were as follows (in thousands): June 30, December 31, Raw materials and parts $ 189,834 $ 212,526 Work in process 36,113 39,494 Finished goods 304,938 302,590 Gross inventories 530,885 554,610 Inventory reserve (61,812 ) (75,587 ) Inventories $ 469,073 $ 479,023

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2019
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, 2018 to June 30, 2019 , were as follows (in thousands): Drilling & Downhole Completions Production Total Goodwill Balance at December 31, 2018 $ 191,151 $ 259,280 $ 19,216 $ 469,647 Purchase accounting adjustments 427 187 — 614 Impact of non-U.S. local currency translation (12 ) 1,110 107 1,205 Goodwill Balance at June 30, 2019 $ 191,566 $ 260,577 $ 19,323 $ 471,466 We perform our annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. There were no impairments of goodwill during the three and six months ended June 30, 2019 and 2018 . Accumulated impairment losses on goodwill were $535.6 million as of June 30, 2019 and December 31, 2018 . Intangible assets Intangible assets consisted of the following as of June 30, 2019 and December 31, 2018 , respectively (in thousands): June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Amortizable Intangibles Amortization Period (In Years) Customer relationships $ 337,838 $ (121,150 ) $ 216,688 4-15 Patents and technology 104,548 (20,624 ) 83,924 5-17 Non-compete agreements 6,261 (5,765 ) 496 3-6 Trade names 47,546 (20,385 ) 27,161 10-15 Distributor relationships 22,160 (18,234 ) 3,926 8-15 Trademarks 10,319 (594 ) 9,725 15 - Indefinite Intangible Assets Total $ 528,672 $ (186,752 ) $ 341,920 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Amortizable Intangibles Amortization Period (In Years) Customer relationships $ 337,546 $ (110,228 ) $ 227,318 4-15 Patents and technology 104,394 (17,148 ) 87,246 5-17 Non-compete agreements 6,245 (5,600 ) 645 3-6 Trade names 47,493 (18,107 ) 29,386 10-15 Distributor relationships 22,160 (17,602 ) 4,558 8-15 Trademarks 10,319 (424 ) 9,895 15 - Indefinite Intangible Assets Total $ 528,157 $ (169,109 ) $ 359,048 Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In the second quarter 2018, we made the decision to exit specific products within the Subsea and Downhole product lines. As a result, we recognized $14.5 million of impairment losses on certain intangible assets (primarily customer relationships).

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Notes payable and lines of credit as of June 30, 2019 and December 31, 2018 consisted of the following (in thousands): June 30, December 31, 6.25% Senior Notes due October 2021 $ 400,000 $ 400,000 Unamortized debt premium 973 1,176 Debt issuance cost (2,570 ) (3,121 ) Senior secured revolving credit facility 79,000 119,000 Other debt 1,748 1,656 Total debt 479,151 518,711 Less: current maturities (1,169 ) (1,167 ) Long-term debt $ 477,982 $ 517,544 Senior Notes Due 2021 In October 2013, we issued $300.0 million of 6.25% senior unsecured notes due 2021 at par, and in November 2013, we issued an additional $100.0 million aggregate principal amount of the notes at a price of 103.25% of par (the “Senior Notes”). The Senior Notes bear interest at a rate of 6.25% 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 our 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 October 30, 2017, we amended and restated our credit facility (such amended and restated credit facility, the “Credit Facility”) to, among other things, increase revolving credit commitments from $140.0 million to $300.0 million (with a sublimit of up to $25.0 million available for the issuance of letters of credit for the account of the Company and certain of our domestic subsidiaries) (the “U.S. Line”), of which up to $30.0 million is available to certain of our Canadian subsidiaries for loans in U.S. or Canadian dollars (with a sublimit of up to $3.0 million available for the issuance of letters of credit for the account of our Canadian subsidiaries) (the “Canadian Line”). Lender commitments under the Credit Facility, subject to certain limitations, may be increased by an additional $100.0 million . The Credit Facility matures in July 2021, but if our outstanding Notes due October 2021 are refinanced or replaced with indebtedness maturing in or after February 2023, the final maturity of the Credit Facility will automatically extend to October 2022. Availability under the Credit Facility is subject to a borrowing base calculated by reference to eligible accounts receivable in the U.S., Canada and certain other jurisdictions (subject to a cap) and eligible inventory in the U.S. and Canada. Our borrowing capacity under the Credit Facility could be reduced or eliminated, depending on future fluctuations in our balances of receivables and inventory. As of June 30, 2019 , our total borrowing base was $299.4 million , of which $79.0 million was drawn and $15.2 million was used for security of outstanding letters of credit, resulting in availability of $205.1 million . Borrowings under the U.S. Line bear interest at a rate equal to, at our option, either (a) the LIBOR rate or (b) a base rate determined by reference to the highest of (i) the rate of interest per annum determined from time to time by Wells Fargo as its prime rate in effect at its principal office in San Francisco, (ii) the federal funds rate plus 0.50% per annum and (iii) the one-month adjusted LIBOR plus 1.00% per annum, in each case plus an applicable margin. Borrowings under the Canadian Line bear interest at a rate equal to, at Forum Canada’s option, either (a) the CDOR rate or (b) a base rate determined by reference to the highest of (i) the prime rate for Canadian dollar commercial loans made in Canada as reported from time to time by Thomson Reuters and (ii) the CDOR rate plus 1.00% , in each case plus an applicable margin. The applicable margin for LIBOR and CDOR loans will initially range from 1.75% to 2.25% , depending upon average excess availability under the Credit Facility. After the first quarter in which our total leverage ratio is less than or equal to 4.00 : 1.00 , the applicable margin for LIBOR and CDOR loans will range from 1.50% to 2.00% , depending upon average excess availability under the Credit Facility. The weighted average interest rate under the Credit Facility was approximately 4.48% for the six months ended June 30, 2019 . The Credit Facility also provides for a commitment fee in the amount of (a) 0.375% per annum on the unused portion of commitments if average usage of the Credit Facility is greater than 50% and (b) 0.500% per annum on the unused portion of commitments if average usage of the Credit Facility is less than or equal to 50% . After the first quarter in which our total leverage ratio is less than or equal to 4.00 : 1.00 , the commitment fees will range from 0.25% to 0.375% , depending upon average usage of the Credit Facility. If excess availability under the Credit Facility falls below the greater of 10% of the borrowing base and $20.0 million , we 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 excess availability under the Credit Facility exceeds such thresholds for at least 60 consecutive days. Deferred Loan Costs We have incurred loan costs that have been deferred and are amortized to interest expense over the term of the Senior Notes and the Credit Facility. Other Debt Other debt consists primarily of various capital leases. Letters of Credit and Guarantees We execute letters of credit in the normal course of business to secure the delivery of product from specific vendors and also to guarantee our fulfillment of performance obligations relating to certain large contracts. We had $15.8 million and $13.6 million in total outstanding letters of credit as of June 30, 2019 and December 31, 2018 , respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases We determine if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded in our condensed consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our condensed consolidated balance sheets based on lease classification as either operating or financing. Operating leases are included in operating lease assets, accrued liabilities and operating lease liabilities. Finance leases are included in property and equipment, current portion of long-term debt, and long-term debt. Some of our lease agreements include lease and non-lease components for which we have elected to not separate for all classes of underlying assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We sublease certain real estate to third parties when we have no future use for the property. Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. Operating lease Right of Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments at the commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Our leases have remaining terms of 1 year to 14 years and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. The operating lease ROU assets also include any upfront lease payments made and exclude lease incentives and initial direct costs incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The following table summarizes the supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, unaudited): As of Classification June 30, 2019 Assets Operating lease assets Operating lease assets 53,958 Finance lease assets Property and equipment, net of accumulated depreciation 1,045 Total lease assets 55,003 Liabilities Current Operating Accrued liabilities 13,416 Finance Current portion of long-term debt 269 Noncurrent Operating Operating lease liabilities 53,206 Finance Long-term debt, net of current portion 578 Total lease liabilities 67,469 The following table summarizes the components of lease expenses for the three and six months ended June 30, 2019 (in thousands, unaudited): Lease Cost Classification Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 4,072 $ 8,212 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 93 165 Interest on lease liabilities Interest expense 16 32 Sublease income Cost of sales and Selling, general and administrative expenses (357 ) (566 ) Net lease cost $ 3,824 $ 7,843 The maturities of lease liabilities as of June 30, 2019 are as follows (in thousands, unaudited): Operating Leases Finance Leases Total Remainder of 2019 $ 8,974 $ 73 $ 9,047 2020 15,931 365 16,296 2021 13,561 365 13,926 2022 10,473 67 10,540 2023 7,407 17 7,424 2024 6,237 10 6,247 Thereafter 25,218 1 25,219 Total lease payments 87,801 898 88,699 Less: present value discount (21,179 ) (51 ) (21,230 ) Present value of lease liabilities $ 66,622 $ 847 $ 67,469 The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of June 30, 2019 : Lease Term and Discount Rate June 30, 2019 Weighted-average remaining lease term (years) Operating leases 8.0 years Financing leases 3.0 years Weighted-average discount rate Operating leases 6.58 % Financing leases 6.58 % The following table summarizes the supplemental cash flow information related to leases as of June 30, 2019 : Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,050 Operating cash flows from finance leases 32 Financing cash flows from finance leases 1,083 Noncash activities from right-of-use assets obtained in exchange for lease obligations: Operating leases $ 8,798 Finance leases 525 Noncash activities from adoption of ASC 842 as of January 1, 2019 Prepaid expenses and other current assets $ (884 ) Operating lease assets 54,069 Operating lease liabilities 64,506 Accrued liabilities (11,321 )
Leases	Leases We determine if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded in our condensed consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our condensed consolidated balance sheets based on lease classification as either operating or financing. Operating leases are included in operating lease assets, accrued liabilities and operating lease liabilities. Finance leases are included in property and equipment, current portion of long-term debt, and long-term debt. Some of our lease agreements include lease and non-lease components for which we have elected to not separate for all classes of underlying assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We sublease certain real estate to third parties when we have no future use for the property. Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. Operating lease Right of Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments at the commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Our leases have remaining terms of 1 year to 14 years and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. The operating lease ROU assets also include any upfront lease payments made and exclude lease incentives and initial direct costs incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The following table summarizes the supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, unaudited): As of Classification June 30, 2019 Assets Operating lease assets Operating lease assets 53,958 Finance lease assets Property and equipment, net of accumulated depreciation 1,045 Total lease assets 55,003 Liabilities Current Operating Accrued liabilities 13,416 Finance Current portion of long-term debt 269 Noncurrent Operating Operating lease liabilities 53,206 Finance Long-term debt, net of current portion 578 Total lease liabilities 67,469 The following table summarizes the components of lease expenses for the three and six months ended June 30, 2019 (in thousands, unaudited): Lease Cost Classification Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 4,072 $ 8,212 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 93 165 Interest on lease liabilities Interest expense 16 32 Sublease income Cost of sales and Selling, general and administrative expenses (357 ) (566 ) Net lease cost $ 3,824 $ 7,843 The maturities of lease liabilities as of June 30, 2019 are as follows (in thousands, unaudited): Operating Leases Finance Leases Total Remainder of 2019 $ 8,974 $ 73 $ 9,047 2020 15,931 365 16,296 2021 13,561 365 13,926 2022 10,473 67 10,540 2023 7,407 17 7,424 2024 6,237 10 6,247 Thereafter 25,218 1 25,219 Total lease payments 87,801 898 88,699 Less: present value discount (21,179 ) (51 ) (21,230 ) Present value of lease liabilities $ 66,622 $ 847 $ 67,469 The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of June 30, 2019 : Lease Term and Discount Rate June 30, 2019 Weighted-average remaining lease term (years) Operating leases 8.0 years Financing leases 3.0 years Weighted-average discount rate Operating leases 6.58 % Financing leases 6.58 % The following table summarizes the supplemental cash flow information related to leases as of June 30, 2019 : Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,050 Operating cash flows from finance leases 32 Financing cash flows from finance leases 1,083 Noncash activities from right-of-use assets obtained in exchange for lease obligations: Operating leases $ 8,798 Finance leases 525 Noncash activities from adoption of ASC 842 as of January 1, 2019 Prepaid expenses and other current assets $ (884 ) Operating lease assets 54,069 Operating lease liabilities 64,506 Accrued liabilities (11,321 )

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2019 , we recorded a tax expense of $8.4 million and $10.1 million , respectively, including $5.9 million of tax expense to increase our valuation allowance as discussed further below. For the three and six months ended June 30, 2018 , we recorded a tax expense of $1.6 million and a tax benefit of $11.3 million , respectively. For interim periods, our income tax expense or benefit is computed based upon our estimated annual effective tax rate and any discrete items that impact the interim periods. The estimated annual effective tax rate for the six months ended June 30, 2019 is different than the comparable period in 2018 primarily due to losses in jurisdictions where the recording of a tax benefit is not available. For the three and six months ended June 30, 2019 , tax expense includes an increase in our valuation allowance of $5.9 million to write down our deferred tax assets in the U.S. and Saudi Arabia to what in our judgment is more likely than not realizable. In addition, income tax benefit for the six months ended June 30, 2018 includes a $15.9 million tax benefit related to an adjustment of the provisional tax impact of U.S. tax reform as discussed further below. The tax benefit or expense recorded can vary from period to period depending on the Company’s relative mix of U.S. and non-U.S. earnings and losses by jurisdiction. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017, a comprehensive U.S. tax reform package that, effective January 1, 2018, among other things, lowered the corporate income tax rate from 35% to 21% and moved the country towards a territorial tax system with a one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries. The effects of U.S. tax reform on us include two major categories: (i) recognition of liabilities for taxes on mandatory deemed repatriation and (ii) re-measurement of deferred taxes. During 2018, we completed our analysis of the impact of U.S. tax reform based on further guidance provided on the new tax law by the U.S. Treasury Department and Internal Revenue Service. We finalized our accounting for the effects of U.S. tax reform during 2018 based on the additional guidance issued and recognized an income tax benefit of $15.6 million for the year ended December 31, 2018, including the $15.9 million provisional tax benefit recorded for the six months ended June 30, 2018 . We have deferred tax assets related to net operating loss carryforwards in the U.S. and in certain states and foreign jurisdictions. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, including the effect of U.S. tax reform, tax-planning and recent operating results. As of June 30, 2019 , we do not anticipate being able to fully utilize all of the losses prior to their expiration in the following jurisdictions: the U.S., the U.K., Germany, Saudi Arabia and Singapore. As a result, we have certain valuation allowances against our deferred tax assets as of June 30, 2019

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements At June 30, 2019 and December 31, 2018 , the Company had $79.0 million and $119.0 million , respectively, of debt outstanding under the Credit Facility which incurs interest at a variable interest rate, and therefore, the carrying amount approximates fair value. The fair value of the debt is classified as a Level 2 measurement because interest rates charged are similar to other financial instruments with similar terms and maturities. The fair value of our 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 June 30, 2019 , the fair value and the carrying value of our Senior Notes approximated $369.5 million and $398.4 million , respectively. At December 31, 2018 , the fair value and the carrying value of our Senior Notes approximated $362.0 million and $398.1 million , respectively. There were no other outstanding financial assets as of June 30, 2019 and December 31, 2018 that required measuring the amounts at fair value. We did not change our 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 six months ended June 30, 2019 .

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Business Segments	Business Segments In the first quarter 2019, we changed our reporting segments in order to align with business activity drivers and the manner in which management reviews and evaluates operating performance. Forum now operates in the following three reporting segments: Drilling & Downhole, Completions and Production. This move better aligns with the key phases of the well cycle and provides improved operating efficiencies. Historically, we operated in three business segments: Drilling & Subsea, Completions, and Production & Infrastructure. We have moved the Downhole product line from Completions to Drilling & Subsea to form the new Drilling & Downhole segment. Completions retains the Stimulation & Intervention and Coiled Tubing product lines. Finally, we renamed Production & Infrastructure as the Production segment. Our historical results of operations have been recast to retrospectively reflect these changes in accordance with generally accepted accounting principles. The Drilling & Downhole segment designs and manufactures products and provides related services to the drilling, well construction, artificial lift and subsea energy construction and services markets as well as other markets such as alternative energy, defense and communications. The Completions segment designs, manufactures and supplies products and provides related services to the completion, stimulation and intervention markets. The Production segment designs, manufactures and supplies products, and provides related equipment and services for production and infrastructure markets. The Company’s reportable segments are strategic units that offer distinct products and services. They are managed separately since each business segment requires different marketing strategies. Operating segments have not been aggregated as part of a reportable segment. The Company evaluates the performance of its reportable segments based on operating income. This segmentation is representative of the manner in which our Chief Operating Decision Maker and our board of directors view the business. We consider the Chief Operating Decision Maker to be the Chief Executive Officer. 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 Six Months Ended 2019 2018 2019 2018 Revenue: Drilling & Downhole $ 82,352 $ 86,476 $ 168,292 $ 163,340 Completions 81,520 100,049 176,179 188,103 Production 83,255 88,599 175,250 175,020 Eliminations (1,479 ) (1,121 ) (2,231 ) (2,229 ) Total revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234 Operating income (loss) Drilling & Downhole $ 1,342 $ (7,520 ) $ (1,157 ) $ (17,830 ) Completions 2,841 14,190 9,692 23,151 Production 3,589 3,704 7,924 7,866 Corporate (6,895 ) (8,843 ) (15,301 ) (17,423 ) Segment operating income (loss) 877 1,531 1,158 (4,236 ) Transaction expenses 125 59 718 1,395 Intangible asset impairments — 14,477 — 14,477 Contingent consideration benefit — — (4,629 ) — Loss (gain) on disposal of assets and other 16 (1,303 ) 36 (1,700 ) Operating income (loss) $ 736 $ (11,702 ) $ 5,033 $ (18,408 ) A summary of consolidated assets by reportable segment is as follows (in thousands): June 30, December 31, Drilling & Downhole $ 670,333 $ 663,414 Completions 848,010 872,731 Production 247,030 243,354 Corporate 56,338 50,153 Total assets $ 1,821,711 $ 1,829,652 Corporate assets include, among other items, cash, prepaid assets and deferred financing costs. The following table presents our revenues disaggregated by product line (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Drilling Technologies $ 37,311 $ 46,393 $ 79,237 $ 89,150 Downhole Technologies 28,785 26,571 59,210 51,098 Subsea Technologies 16,256 13,512 29,845 23,092 Stimulation and Intervention 46,898 60,526 98,209 111,586 Coiled Tubing 34,622 39,523 77,970 76,517 Production Equipment 33,009 35,269 69,577 66,725 Valve Solutions 50,246 53,330 105,673 108,295 Eliminations (1,479 ) (1,121 ) (2,231 ) (2,229 ) Total revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234 The following table presents our revenues disaggregated by geography (in thousands): Three months ended June 30, Six Months Ended 2019 2018 2019 2018 United States $ 183,700 $ 203,966 $ 380,667 $ 394,030 Canada 13,754 16,511 30,217 35,705 Europe & Africa 17,815 17,237 35,412 31,127 Middle East 12,460 16,388 31,745 26,958 Asia-Pacific 11,459 14,087 26,218 22,937 Latin America 6,460 5,814 13,231 13,477 Total Revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
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 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 June 30, 2019 and December 31, 2018 , 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	6 Months Ended
	Jun. 30, 2019
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 Six Months Ended 2019 2018 2019 2018 Net income (loss) $ (13,734 ) $ (15,349 ) $ (21,622 ) $ 12,717 Basic - weighted average shares outstanding 109,987 108,714 109,816 108,569 Dilutive effect of stock options and restricted stock — — — 2,252 Diluted - weighted average shares outstanding 109,987 108,714 109,816 110,821 Earnings (loss) per share Basic $ (0.12 ) $ (0.14 ) $ (0.20 ) $ 0.12 Diluted $ (0.12 ) $ (0.14 ) $ (0.20 ) $ 0.11 The calculation of diluted earnings per share excludes approximately 3.5 million shares that were anti-dilutive for the six months ended June 30, 2018 . The calculation of diluted loss per share excludes all potentially dilutive shares for the three months ended June 30, 2018 , and three and six months ended June 30, 2019

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stock-based compensation During the six months ended June 30, 2019 , the Company granted 1,362,621 shares of restricted stock and restricted stock units and 390,896 performance share awards with a market condition. The 1,362,621 shares of restricted stock and restricted stock units include 1,128,173 shares granted to employees that vest ratably over 3 years and 234,448 shares granted to non-employee members of the Board of Directors that have a vesting period of 12 months . 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 award agreements will be determined based on the total shareholder return of the Company’s common stock as compared to a group of peer companies. The performance share awards granted in February 2019 are measured over a three year performance period.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 205,953 $ 49,964 $ (10,269 ) $ 245,648 Cost of sales — 157,317 35,780 (10,637 ) 182,460 Gross Profit — 48,636 14,184 368 63,188 Operating Expenses Selling, general and administrative expenses — 52,148 10,733 — 62,881 Transaction Expenses — 175 (50 ) — 125 Loss (gain) on disposal of assets and other — 81 (65 ) — 16 Total operating expenses — 52,404 10,618 — 63,022 Earnings from equity investment — 107 463 — 570 Equity earnings (loss) from affiliate, net of tax (5,386 ) 4,187 — 1,199 — Operating income (loss) (5,386 ) 526 4,029 1,567 736 Other expense (income) Interest expense (income) 8,348 (70 ) (55 ) — 8,223 Foreign exchange and other gains, net — (123 ) (2,023 ) — (2,146 ) Total other (income) expense, net 8,348 (193 ) (2,078 ) — 6,077 Income (loss) before income taxes (13,734 ) 719 6,107 1,567 (5,341 ) Income tax expense — 6,105 2,288 — 8,393 Net income (loss) (13,734 ) (5,386 ) 3,819 1,567 (13,734 ) Other comprehensive income (loss), net of tax: Net income (loss) (13,734 ) (5,386 ) 3,819 1,567 (13,734 ) Change in foreign currency translation, net of tax of $0 (1,407 ) (1,407 ) (1,407 ) 2,814 (1,407 ) Gain on pension liability 5 5 5 (10 ) 5 Comprehensive income (loss) $ (15,136 ) $ (6,788 ) $ 2,417 $ 4,371 $ (15,136 ) Condensed consolidating statements of comprehensive loss Three Months Ended June 30, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 241,127 $ 47,987 $ (15,111 ) $ 274,003 Cost of sales — 177,090 39,801 (15,557 ) 201,334 Gross Profit — 64,037 8,186 446 72,669 Operating Expenses Selling, general and administrative expenses — 58,739 12,749 — 71,488 Transaction Expenses — 59 — — 59 Goodwill and intangible asset impairments — — 14,477 — 14,477 Loss (gain) on disposal of assets and other — (1,703 ) 400 — (1,303 ) Total operating expenses — 57,095 27,626 — 84,721 Earnings from equity investment — 15 335 — 350 Equity loss from affiliate, net of tax (9,072 ) (18,300 ) — 27,372 — Operating loss (9,072 ) (11,343 ) (19,105 ) 27,818 (11,702 ) Other expense (income) Interest expense (income) 7,946 31 (116 ) — 7,861 Foreign exchange and other gains, net — (109 ) (5,751 ) — (5,860 ) Total other expense (income), net 7,946 (78 ) (5,867 ) — 2,001 Loss before income taxes (17,018 ) (11,265 ) (13,238 ) 27,818 (13,703 ) Income tax expense (benefit) (1,669 ) (2,193 ) 5,508 — 1,646 Net loss (15,349 ) (9,072 ) (18,746 ) 27,818 (15,349 ) Other comprehensive income (loss), net of tax: Net loss (15,349 ) (9,072 ) (18,746 ) 27,818 (15,349 ) Change in foreign currency translation, net of tax of $0 (18,635 ) (18,635 ) (18,635 ) 37,270 (18,635 ) Gain on pension liability 55 55 55 (110 ) 55 Comprehensive loss $ (33,929 ) $ (27,652 ) $ (37,326 ) $ 64,978 $ (33,929 ) Condensed consolidating balance sheets June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ — $ 20,277 $ 17,088 $ — $ 37,365 Accounts receivable—trade, net — 148,730 31,883 — 180,613 Inventories, net — 396,518 80,253 (7,698 ) 469,073 Prepaid expenses and other current assets — 30,230 1,290 — 31,520 Accrued revenue — 376 497 — 873 Costs and estimated profits in excess of billings — 4,037 4,401 — 8,438 Total current assets — 600,168 135,412 (7,698 ) 727,882 Property and equipment, net of accumulated depreciation — 151,462 20,084 — 171,546 Operating lease assets — 33,973 19,985 — 53,958 Deferred financing costs, net 1,657 — — — 1,657 Intangible assets — 304,866 37,054 — 341,920 Goodwill — 434,029 37,437 — 471,466 Investment in unconsolidated subsidiary — 858 43,679 — 44,537 Deferred income taxes, net — — — — — Other long-term assets — 4,331 4,414 — 8,745 Investment in affiliates 876,161 266,720 — (1,142,881 ) — Long-term advances to affiliates 626,446 — 97,481 (723,927 ) — Total assets $ 1,504,264 $ 1,796,407 $ 395,546 $ (1,874,506 ) $ 1,821,711 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,143 $ 26 $ — $ 1,169 Accounts payable—trade — 110,500 27,319 — 137,819 Accrued liabilities 6,650 30,554 37,774 — 74,978 Deferred revenue — 2,651 5,395 — 8,046 Billings in excess of costs and profits recognized — 1,567 717 — 2,284 Total current liabilities 6,650 146,415 71,231 — 224,296 Long-term debt, net of current portion 477,403 525 54 — 477,982 Deferred income taxes, net — 4,632 15,480 — 20,112 Operating lease liabilities — 32,255 20,951 — 53,206 Other long-term liabilities — 12,492 13,412 — 25,904 Long-term payables to affiliates — 723,927 — (723,927 ) — Total liabilities 484,053 920,246 121,128 (723,927 ) 801,500 Total equity 1,020,211 876,161 274,418 (1,150,579 ) 1,020,211 Total liabilities and equity $ 1,504,264 $ 1,796,407 $ 395,546 $ (1,874,506 ) $ 1,821,711 Condensed consolidating balance sheets December 31, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ — $ 24,977 $ 22,264 $ — $ 47,241 Accounts receivable—trade, net — 177,986 28,069 — 206,055 Inventories, net — 416,237 69,878 (7,092 ) 479,023 Prepaid expenses and other current assets — 23,585 92 — 23,677 Accrued revenue — — 862 — 862 Costs and estimated profits in excess of billings — 6,202 2,957 — 9,159 Total current assets — 648,987 124,122 (7,092 ) 766,017 Property and equipment, net of accumulated depreciation — 156,434 20,924 — 177,358 Deferred financing costs, net 2,071 — — — 2,071 Intangible assets — 320,056 38,992 — 359,048 Goodwill — 433,415 36,232 — 469,647 Investment in unconsolidated subsidiary — 1,222 43,760 44,982 Deferred income taxes, net — 1,170 64 — 1,234 Other long-term assets — 4,194 5,101 — 9,295 Investment in affiliates 877,764 265,714 — (1,143,478 ) — Long-term advances to affiliates 674,220 — 98,532 (772,752 ) — Total assets $ 1,554,055 $ 1,831,192 $ 367,727 $ (1,923,322 ) $ 1,829,652 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,150 $ 17 $ — $ 1,167 Accounts payable—trade — 121,019 22,167 — 143,186 Accrued liabilities 6,873 40,913 33,246 — 81,032 Deferred revenue — 4,742 3,593 — 8,335 Billings in excess of costs and profits recognized — 84 3,126 — 3,210 Total current liabilities 6,873 167,908 62,149 — 236,930 Long-term debt, net of current portion 517,056 480 8 — 517,544 Deferred income taxes, net — — 15,299 — 15,299 Other long-term liabilities — 12,288 17,465 — 29,753 Long-term payables to affiliates — 772,752 — (772,752 ) — Total liabilities 523,929 953,428 94,921 (772,752 ) 799,526 Total equity 1,030,126 877,764 272,806 (1,150,570 ) 1,030,126 Total liabilities and equity $ 1,554,055 $ 1,831,192 $ 367,727 $ (1,923,322 ) $ 1,829,652 Condensed consolidating statements of cash flows Six Months Ended June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities $ (7,138 ) $ 53,246 $ (5,324 ) $ — $ 40,784 Cash flows from investing activities Capital expenditures for property and equipment — (8,452 ) (819 ) — (9,271 ) Proceeds from sale of business, property and equipment — 425 — — 425 Long-term loans and advances to affiliates 48,175 (606 ) — (47,569 ) — Net cash provided by (used in) investing activities $ 48,175 $ (8,633 ) $ (819 ) $ (47,569 ) $ (8,846 ) Cash flows from financing activities Borrowings of debt 82,000 — — — 82,000 Repayments of debt (122,000 ) (1,138 ) 55 — (123,083 ) Repurchases of stock (1,037 ) — — — (1,037 ) Long-term loans and advances from affiliates — (48,175 ) 606 47,569 — Net cash provided by (used in) financing activities $ (41,037 ) $ (49,313 ) $ 661 $ 47,569 $ (42,120 ) Effect of exchange rate changes on cash — — 306 — 306 Net decrease in cash, cash equivalents and restricted cash — (4,700 ) (5,176 ) — (9,876 ) Cash, cash equivalents and restricted cash at beginning of period — 24,977 22,264 — 47,241 Cash, cash equivalents and restricted cash at end of period $ — $ 20,277 $ 17,088 $ — $ 37,365 Condensed consolidating statements of cash flows Six Months Ended June 30, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities $ (34 ) $ (3,738 ) $ 1,985 $ (23,950 ) $ (25,737 ) Cash flows from investing activities Capital expenditures for property and equipment — (12,339 ) (1,801 ) — (14,140 ) Proceeds from sale of business, property and equipment — 4,743 4,066 — 8,809 Long-term loans and advances to affiliates 43,049 (6,282 ) — (36,767 ) — Net cash provided by (used in) investing activities $ 43,049 $ (13,878 ) $ 2,265 $ (36,767 ) $ (5,331 ) Cash flows from financing activities Borrowings of debt 50,000 — — — 50,000 Repayments of debt (90,803 ) (805 ) (70 ) — (91,678 ) Repurchases of stock (2,212 ) — — — (2,212 ) Long-term loans and advances to affiliates — (43,049 ) 6,282 36,767 — Dividend paid to affiliates — — (23,950 ) 23,950 — Net cash used in financing activities $ (43,015 ) $ (43,854 ) $ (17,738 ) $ 60,717 $ (43,890 ) Effect of exchange rate changes on cash — — (1,153 ) — (1,153 ) Net decrease in cash, cash equivalents and restricted cash — (61,470 ) (14,641 ) — (76,111 ) Cash, cash equivalents and restricted cash at beginning of period — 73,981 41,235 — 115,216 Cash, cash equivalents and restricted cash at end of period $ — $ 12,511 $ 26,594 $ — $ 39,105

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2019
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 we adopt 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 our consolidated financial statements upon adoption. Accounting Standards Adopted in 2019 Stranded Tax Effects from the Tax Cuts and Jobs Act. In February 2018, the FASB issued ASU No. 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. U.S. GAAP requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates, with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income (referred to as “stranded tax effects”). The amendments in this ASU allow a specific exception for reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. In addition, the amendments in this update also require certain disclosures about stranded tax effects. We applied the update beginning January 1, 2019. The adoption of this new guidance had no material impact on our unaudited condensed consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 842”). Under this new guidance, lessees are required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases (finance and operating). The classification as either a financing or operating lease determines whether lease expense is recognized on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new standard as of January 1, 2019 using the modified retrospective transition method which requires leases existing at, or entered into after, January 1, 2019 to be recognized and measured. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We took advantage of various practical expedients provided by the new standard, including: • use of the transition package of practical expedients which, among other things, allows us to carry forward the historical lease classification for existing leases; • making an accounting policy election for leases with an initial term of 12 months or less to be excluded from the balance sheet; and • electing to not separate non-lease components from lease components for all classes of underlying lease assets. The adoption of this standard resulted in the recording of net operating lease assets of approximately $54 million and operating lease liabilities of approximately $65 million as of January 1, 2019. The new standard did not materially affect our Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and six months ended June 30, 2019 . For additional information, please refer to Note 8 Leases . Accounting Standards Issued But Not Yet Adopted Accounting for Implementation Costs Related to a Cloud Computing Arrangement . In August 2018, the FASB issued ASU No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This new guidance aligns the requirements for capitalizing implementation costs incurred by an entity related to a cloud computing arrangement with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Accordingly, this guidance requires an entity to capitalize certain implementation costs incurred and then amortize them over the term of the cloud hosting arrangement. Furthermore, this guidance also requires an entity to present the expense, cash flows, and capitalized implementation costs in the same financial statement line items as the associated hosting service. This new guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and early adoption is permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the impact of adopting this guidance. Fair Value Measurement Disclosure . In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement. This new guidance eliminated, modified and added certain disclosure requirements related to fair value measurements. The amended disclosure requirements are effective for all entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the impact of adopting this guidance. However, we currently expect that the adoption of this guidance will not have a material impact on our unaudited condensed consolidated financial statements. Financial Instruments—Credit Losses. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses (Topic 326), which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. It requires an entity to estimate credit losses expected over the life of an exposure based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are currently evaluating the impact of adopting this guidance.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Changes in Contract Assets and Contract Liabilities	The following table reflects the changes in our contract assets and contract liabilities balances for the six months ended June 30, 2019 : June 30, December 31, Decrease $ % Accrued revenue $ 873 $ 862 Costs and estimated profits in excess of billings 8,438 9,159 Contract assets $ 9,311 $ 10,021 $ (710 ) (7 )% Deferred revenue $ 8,046 $ 8,335 Billings in excess of costs and profits recognized 2,284 3,210 Contract liabilities $ 10,330 $ 11,545 $ (1,215 ) (11 )%

Acquisitions & Dispositions (Ta

Acquisitions & Dispositions (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands): Current assets, net of cash acquired $ 18,468 Property and equipment 2,408 Non-current assets 238 Intangible assets (primarily customer relationships) 30,400 Tax-deductible goodwill 20,746 Current liabilities (12,633 ) Long-term liabilities $ (2,355 ) Net assets acquired, net of cash acquired $ 57,272

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	Our significant components of inventory at June 30, 2019 and December 31, 2018 were as follows (in thousands): June 30, December 31, Raw materials and parts $ 189,834 $ 212,526 Work in process 36,113 39,494 Finished goods 304,938 302,590 Gross inventories 530,885 554,610 Inventory reserve (61,812 ) (75,587 ) Inventories $ 469,073 $ 479,023

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill from December 31, 2018 to June 30, 2019 , were as follows (in thousands): Drilling & Downhole Completions Production Total Goodwill Balance at December 31, 2018 $ 191,151 $ 259,280 $ 19,216 $ 469,647 Purchase accounting adjustments 427 187 — 614 Impact of non-U.S. local currency translation (12 ) 1,110 107 1,205 Goodwill Balance at June 30, 2019 $ 191,566 $ 260,577 $ 19,323 $ 471,466
Summary of Intangible Assets	Intangible assets consisted of the following as of June 30, 2019 and December 31, 2018 , respectively (in thousands): June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Amortizable Intangibles Amortization Period (In Years) Customer relationships $ 337,838 $ (121,150 ) $ 216,688 4-15 Patents and technology 104,548 (20,624 ) 83,924 5-17 Non-compete agreements 6,261 (5,765 ) 496 3-6 Trade names 47,546 (20,385 ) 27,161 10-15 Distributor relationships 22,160 (18,234 ) 3,926 8-15 Trademarks 10,319 (594 ) 9,725 15 - Indefinite Intangible Assets Total $ 528,672 $ (186,752 ) $ 341,920 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Amortizable Intangibles Amortization Period (In Years) Customer relationships $ 337,546 $ (110,228 ) $ 227,318 4-15 Patents and technology 104,394 (17,148 ) 87,246 5-17 Non-compete agreements 6,245 (5,600 ) 645 3-6 Trade names 47,493 (18,107 ) 29,386 10-15 Distributor relationships 22,160 (17,602 ) 4,558 8-15 Trademarks 10,319 (424 ) 9,895 15 - Indefinite Intangible Assets Total $ 528,157 $ (169,109 ) $ 359,048

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	Notes payable and lines of credit as of June 30, 2019 and December 31, 2018 consisted of the following (in thousands): June 30, December 31, 6.25% Senior Notes due October 2021 $ 400,000 $ 400,000 Unamortized debt premium 973 1,176 Debt issuance cost (2,570 ) (3,121 ) Senior secured revolving credit facility 79,000 119,000 Other debt 1,748 1,656 Total debt 479,151 518,711 Less: current maturities (1,169 ) (1,167 ) Long-term debt $ 477,982 $ 517,544

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Lease Assets and Liabilities	The following table summarizes the supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, unaudited): As of Classification June 30, 2019 Assets Operating lease assets Operating lease assets 53,958 Finance lease assets Property and equipment, net of accumulated depreciation 1,045 Total lease assets 55,003 Liabilities Current Operating Accrued liabilities 13,416 Finance Current portion of long-term debt 269 Noncurrent Operating Operating lease liabilities 53,206 Finance Long-term debt, net of current portion 578 Total lease liabilities 67,469
Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates	The following table summarizes the components of lease expenses for the three and six months ended June 30, 2019 (in thousands, unaudited): Lease Cost Classification Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 4,072 $ 8,212 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 93 165 Interest on lease liabilities Interest expense 16 32 Sublease income Cost of sales and Selling, general and administrative expenses (357 ) (566 ) Net lease cost $ 3,824 $ 7,843 The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of June 30, 2019 : Lease Term and Discount Rate June 30, 2019 Weighted-average remaining lease term (years) Operating leases 8.0 years Financing leases 3.0 years Weighted-average discount rate Operating leases 6.58 % Financing leases 6.58 % The following table summarizes the supplemental cash flow information related to leases as of June 30, 2019 : Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,050 Operating cash flows from finance leases 32 Financing cash flows from finance leases 1,083 Noncash activities from right-of-use assets obtained in exchange for lease obligations: Operating leases $ 8,798 Finance leases 525 Noncash activities from adoption of ASC 842 as of January 1, 2019 Prepaid expenses and other current assets $ (884 ) Operating lease assets 54,069 Operating lease liabilities 64,506 Accrued liabilities (11,321 )
Schedule of Finance Lease Liability Maturity	The maturities of lease liabilities as of June 30, 2019 are as follows (in thousands, unaudited): Operating Leases Finance Leases Total Remainder of 2019 $ 8,974 $ 73 $ 9,047 2020 15,931 365 16,296 2021 13,561 365 13,926 2022 10,473 67 10,540 2023 7,407 17 7,424 2024 6,237 10 6,247 Thereafter 25,218 1 25,219 Total lease payments 87,801 898 88,699 Less: present value discount (21,179 ) (51 ) (21,230 ) Present value of lease liabilities $ 66,622 $ 847 $ 67,469
Schedule of Operating Lease Liability Maturity	The maturities of lease liabilities as of June 30, 2019 are as follows (in thousands, unaudited): Operating Leases Finance Leases Total Remainder of 2019 $ 8,974 $ 73 $ 9,047 2020 15,931 365 16,296 2021 13,561 365 13,926 2022 10,473 67 10,540 2023 7,407 17 7,424 2024 6,237 10 6,247 Thereafter 25,218 1 25,219 Total lease payments 87,801 898 88,699 Less: present value discount (21,179 ) (51 ) (21,230 ) Present value of lease liabilities $ 66,622 $ 847 $ 67,469

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summary financial data by segment follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Revenue: Drilling & Downhole $ 82,352 $ 86,476 $ 168,292 $ 163,340 Completions 81,520 100,049 176,179 188,103 Production 83,255 88,599 175,250 175,020 Eliminations (1,479 ) (1,121 ) (2,231 ) (2,229 ) Total revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234 Operating income (loss) Drilling & Downhole $ 1,342 $ (7,520 ) $ (1,157 ) $ (17,830 ) Completions 2,841 14,190 9,692 23,151 Production 3,589 3,704 7,924 7,866 Corporate (6,895 ) (8,843 ) (15,301 ) (17,423 ) Segment operating income (loss) 877 1,531 1,158 (4,236 ) Transaction expenses 125 59 718 1,395 Intangible asset impairments — 14,477 — 14,477 Contingent consideration benefit — — (4,629 ) — Loss (gain) on disposal of assets and other 16 (1,303 ) 36 (1,700 ) Operating income (loss) $ 736 $ (11,702 ) $ 5,033 $ (18,408 ) A summary of consolidated assets by reportable segment is as follows (in thousands): June 30, December 31, Drilling & Downhole $ 670,333 $ 663,414 Completions 848,010 872,731 Production 247,030 243,354 Corporate 56,338 50,153 Total assets $ 1,821,711 $ 1,829,652
Schedule of Disaggregation of Revenue	The following table presents our revenues disaggregated by product line (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Drilling Technologies $ 37,311 $ 46,393 $ 79,237 $ 89,150 Downhole Technologies 28,785 26,571 59,210 51,098 Subsea Technologies 16,256 13,512 29,845 23,092 Stimulation and Intervention 46,898 60,526 98,209 111,586 Coiled Tubing 34,622 39,523 77,970 76,517 Production Equipment 33,009 35,269 69,577 66,725 Valve Solutions 50,246 53,330 105,673 108,295 Eliminations (1,479 ) (1,121 ) (2,231 ) (2,229 ) Total revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234
Schedule of Revenue by Geography	The following table presents our revenues disaggregated by geography (in thousands): Three months ended June 30, Six Months Ended 2019 2018 2019 2018 United States $ 183,700 $ 203,966 $ 380,667 $ 394,030 Canada 13,754 16,511 30,217 35,705 Europe & Africa 17,815 17,237 35,412 31,127 Middle East 12,460 16,388 31,745 26,958 Asia-Pacific 11,459 14,087 26,218 22,937 Latin America 6,460 5,814 13,231 13,477 Total Revenue $ 245,648 $ 274,003 $ 517,490 $ 524,234

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
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 Six Months Ended 2019 2018 2019 2018 Net income (loss) $ (13,734 ) $ (15,349 ) $ (21,622 ) $ 12,717 Basic - weighted average shares outstanding 109,987 108,714 109,816 108,569 Dilutive effect of stock options and restricted stock — — — 2,252 Diluted - weighted average shares outstanding 109,987 108,714 109,816 110,821 Earnings (loss) per share Basic $ (0.12 ) $ (0.14 ) $ (0.20 ) $ 0.12 Diluted $ (0.12 ) $ (0.14 ) $ (0.20 ) $ 0.11

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed consolidating statements of comprehensive income (loss)	Condensed consolidating statements of comprehensive income (loss) Three Months Ended June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 205,953 $ 49,964 $ (10,269 ) $ 245,648 Cost of sales — 157,317 35,780 (10,637 ) 182,460 Gross Profit — 48,636 14,184 368 63,188 Operating Expenses Selling, general and administrative expenses — 52,148 10,733 — 62,881 Transaction Expenses — 175 (50 ) — 125 Loss (gain) on disposal of assets and other — 81 (65 ) — 16 Total operating expenses — 52,404 10,618 — 63,022 Earnings from equity investment — 107 463 — 570 Equity earnings (loss) from affiliate, net of tax (5,386 ) 4,187 — 1,199 — Operating income (loss) (5,386 ) 526 4,029 1,567 736 Other expense (income) Interest expense (income) 8,348 (70 ) (55 ) — 8,223 Foreign exchange and other gains, net — (123 ) (2,023 ) — (2,146 ) Total other (income) expense, net 8,348 (193 ) (2,078 ) — 6,077 Income (loss) before income taxes (13,734 ) 719 6,107 1,567 (5,341 ) Income tax expense — 6,105 2,288 — 8,393 Net income (loss) (13,734 ) (5,386 ) 3,819 1,567 (13,734 ) Other comprehensive income (loss), net of tax: Net income (loss) (13,734 ) (5,386 ) 3,819 1,567 (13,734 ) Change in foreign currency translation, net of tax of $0 (1,407 ) (1,407 ) (1,407 ) 2,814 (1,407 ) Gain on pension liability 5 5 5 (10 ) 5 Comprehensive income (loss) $ (15,136 ) $ (6,788 ) $ 2,417 $ 4,371 $ (15,136 ) Condensed consolidating statements of comprehensive loss Three Months Ended June 30, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 241,127 $ 47,987 $ (15,111 ) $ 274,003 Cost of sales — 177,090 39,801 (15,557 ) 201,334 Gross Profit — 64,037 8,186 446 72,669 Operating Expenses Selling, general and administrative expenses — 58,739 12,749 — 71,488 Transaction Expenses — 59 — — 59 Goodwill and intangible asset impairments — — 14,477 — 14,477 Loss (gain) on disposal of assets and other — (1,703 ) 400 — (1,303 ) Total operating expenses — 57,095 27,626 — 84,721 Earnings from equity investment — 15 335 — 350 Equity loss from affiliate, net of tax (9,072 ) (18,300 ) — 27,372 — Operating loss (9,072 ) (11,343 ) (19,105 ) 27,818 (11,702 ) Other expense (income) Interest expense (income) 7,946 31 (116 ) — 7,861 Foreign exchange and other gains, net — (109 ) (5,751 ) — (5,860 ) Total other expense (income), net 7,946 (78 ) (5,867 ) — 2,001 Loss before income taxes (17,018 ) (11,265 ) (13,238 ) 27,818 (13,703 ) Income tax expense (benefit) (1,669 ) (2,193 ) 5,508 — 1,646 Net loss (15,349 ) (9,072 ) (18,746 ) 27,818 (15,349 ) Other comprehensive income (loss), net of tax: Net loss (15,349 ) (9,072 ) (18,746 ) 27,818 (15,349 ) Change in foreign currency translation, net of tax of $0 (18,635 ) (18,635 ) (18,635 ) 37,270 (18,635 ) Gain on pension liability 55 55 55 (110 ) 55 Comprehensive loss $ (33,929 ) $ (27,652 ) $ (37,326 ) $ 64,978 $ (33,929 ) Condensed consolidating statements of comprehensive income (loss) Six Months Ended June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 442,759 $ 100,177 $ (25,446 ) $ 517,490 Cost of sales — 333,171 75,873 (24,840 ) 384,204 Gross Profit — 109,588 24,304 (606 ) 133,286 Operating Expenses Selling, general and administrative expenses — 109,558 22,291 — 131,849 Transaction Expenses — 718 — — 718 Contingent consideration benefit — (4,629 ) — — (4,629 ) Loss (gain) on disposal of assets and other — 159 (123 ) — 36 Total operating expenses — 105,806 22,168 — 127,974 Earnings (loss) from equity investment — (364 ) 85 — (279 ) Equity loss from affiliate, net of tax (5,028 ) (2,421 ) — 7,449 — Operating income (loss) (5,028 ) 997 2,221 6,843 5,033 Other expense (income) Interest expense (income) 16,594 (81 ) (109 ) — 16,404 Foreign exchange and other losses (gains), net — (51 ) 182 — 131 Total other (income) expense, net 16,594 (132 ) 73 — 16,535 Income (loss) before income taxes (21,622 ) 1,129 2,148 6,843 (11,502 ) Income tax expense — 6,157 3,963 — 10,120 Net loss (21,622 ) (5,028 ) (1,815 ) 6,843 (21,622 ) Other comprehensive income (loss), net of tax: Net loss (21,622 ) (5,028 ) (1,815 ) 6,843 (21,622 ) Change in foreign currency translation, net of tax of $0 3,427 3,427 3,427 (6,854 ) 3,427 Loss on pension liability (4 ) (4 ) (4 ) 8 (4 ) Comprehensive income (loss) $ (18,199 ) $ (1,605 ) $ 1,608 $ (3 ) $ (18,199 ) Condensed consolidating statements of comprehensive income (loss) Six Months Ended June 30, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Revenue $ — $ 460,076 $ 91,740 $ (27,582 ) $ 524,234 Cost of sales — 336,395 75,699 (27,816 ) 384,278 Gross Profit — 123,681 16,041 234 139,956 Operating Expenses Selling, general and administrative expenses — 118,812 24,767 — 143,579 Transaction Expenses — 1,388 7 — 1,395 Goodwill and intangible asset impairments — — 14,477 — 14,477 Loss (gain) on disposal of assets and other — (2,334 ) 634 — (1,700 ) Total operating expenses — 117,866 39,885 — 157,751 Earnings (loss) from equity investment — 5 (618 ) — (613 ) Equity earnings from affiliate, net of tax 25,249 10,007 — (35,256 ) — Operating income (loss) 25,249 15,827 (24,462 ) (35,022 ) (18,408 ) Other expense (income) Interest expense (income) 15,864 374 (290 ) — 15,948 Foreign exchange and other gains, net — (109 ) (2,200 ) — (2,309 ) (Gain) loss on contribution of subsea rentals business — 5,856 (39,362 ) — (33,506 ) Total other (income) expense, net 15,864 6,121 (41,852 ) — (19,867 ) Income before taxes 9,385 9,706 17,390 (35,022 ) 1,459 Income tax expense (benefit) (3,332 ) (15,543 ) 7,617 — (11,258 ) Net income 12,717 25,249 9,773 (35,022 ) 12,717 Other comprehensive income (loss), net of tax: Net income 12,717 25,249 9,773 (35,022 ) 12,717 Change in foreign currency translation, net of tax of $0 (12,348 ) (12,348 ) (12,348 ) 24,696 (12,348 ) Gain on pension liability 71 71 71 (142 ) 71 Comprehensive income (loss) $ 440 $ 12,972 $ (2,504 ) $ (10,468 ) $ 440
Condensed consolidating balance sheets	Condensed consolidating balance sheets June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ — $ 20,277 $ 17,088 $ — $ 37,365 Accounts receivable—trade, net — 148,730 31,883 — 180,613 Inventories, net — 396,518 80,253 (7,698 ) 469,073 Prepaid expenses and other current assets — 30,230 1,290 — 31,520 Accrued revenue — 376 497 — 873 Costs and estimated profits in excess of billings — 4,037 4,401 — 8,438 Total current assets — 600,168 135,412 (7,698 ) 727,882 Property and equipment, net of accumulated depreciation — 151,462 20,084 — 171,546 Operating lease assets — 33,973 19,985 — 53,958 Deferred financing costs, net 1,657 — — — 1,657 Intangible assets — 304,866 37,054 — 341,920 Goodwill — 434,029 37,437 — 471,466 Investment in unconsolidated subsidiary — 858 43,679 — 44,537 Deferred income taxes, net — — — — — Other long-term assets — 4,331 4,414 — 8,745 Investment in affiliates 876,161 266,720 — (1,142,881 ) — Long-term advances to affiliates 626,446 — 97,481 (723,927 ) — Total assets $ 1,504,264 $ 1,796,407 $ 395,546 $ (1,874,506 ) $ 1,821,711 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,143 $ 26 $ — $ 1,169 Accounts payable—trade — 110,500 27,319 — 137,819 Accrued liabilities 6,650 30,554 37,774 — 74,978 Deferred revenue — 2,651 5,395 — 8,046 Billings in excess of costs and profits recognized — 1,567 717 — 2,284 Total current liabilities 6,650 146,415 71,231 — 224,296 Long-term debt, net of current portion 477,403 525 54 — 477,982 Deferred income taxes, net — 4,632 15,480 — 20,112 Operating lease liabilities — 32,255 20,951 — 53,206 Other long-term liabilities — 12,492 13,412 — 25,904 Long-term payables to affiliates — 723,927 — (723,927 ) — Total liabilities 484,053 920,246 121,128 (723,927 ) 801,500 Total equity 1,020,211 876,161 274,418 (1,150,579 ) 1,020,211 Total liabilities and equity $ 1,504,264 $ 1,796,407 $ 395,546 $ (1,874,506 ) $ 1,821,711 Condensed consolidating balance sheets December 31, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Assets Current assets Cash and cash equivalents $ — $ 24,977 $ 22,264 $ — $ 47,241 Accounts receivable—trade, net — 177,986 28,069 — 206,055 Inventories, net — 416,237 69,878 (7,092 ) 479,023 Prepaid expenses and other current assets — 23,585 92 — 23,677 Accrued revenue — — 862 — 862 Costs and estimated profits in excess of billings — 6,202 2,957 — 9,159 Total current assets — 648,987 124,122 (7,092 ) 766,017 Property and equipment, net of accumulated depreciation — 156,434 20,924 — 177,358 Deferred financing costs, net 2,071 — — — 2,071 Intangible assets — 320,056 38,992 — 359,048 Goodwill — 433,415 36,232 — 469,647 Investment in unconsolidated subsidiary — 1,222 43,760 44,982 Deferred income taxes, net — 1,170 64 — 1,234 Other long-term assets — 4,194 5,101 — 9,295 Investment in affiliates 877,764 265,714 — (1,143,478 ) — Long-term advances to affiliates 674,220 — 98,532 (772,752 ) — Total assets $ 1,554,055 $ 1,831,192 $ 367,727 $ (1,923,322 ) $ 1,829,652 Liabilities and equity Current liabilities Current portion of long-term debt $ — $ 1,150 $ 17 $ — $ 1,167 Accounts payable—trade — 121,019 22,167 — 143,186 Accrued liabilities 6,873 40,913 33,246 — 81,032 Deferred revenue — 4,742 3,593 — 8,335 Billings in excess of costs and profits recognized — 84 3,126 — 3,210 Total current liabilities 6,873 167,908 62,149 — 236,930 Long-term debt, net of current portion 517,056 480 8 — 517,544 Deferred income taxes, net — — 15,299 — 15,299 Other long-term liabilities — 12,288 17,465 — 29,753 Long-term payables to affiliates — 772,752 — (772,752 ) — Total liabilities 523,929 953,428 94,921 (772,752 ) 799,526 Total equity 1,030,126 877,764 272,806 (1,150,570 ) 1,030,126 Total liabilities and equity $ 1,554,055 $ 1,831,192 $ 367,727 $ (1,923,322 ) $ 1,829,652
Condensed consolidating statements of cash flows	Condensed consolidating statements of cash flows Six Months Ended June 30, 2019 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities $ (7,138 ) $ 53,246 $ (5,324 ) $ — $ 40,784 Cash flows from investing activities Capital expenditures for property and equipment — (8,452 ) (819 ) — (9,271 ) Proceeds from sale of business, property and equipment — 425 — — 425 Long-term loans and advances to affiliates 48,175 (606 ) — (47,569 ) — Net cash provided by (used in) investing activities $ 48,175 $ (8,633 ) $ (819 ) $ (47,569 ) $ (8,846 ) Cash flows from financing activities Borrowings of debt 82,000 — — — 82,000 Repayments of debt (122,000 ) (1,138 ) 55 — (123,083 ) Repurchases of stock (1,037 ) — — — (1,037 ) Long-term loans and advances from affiliates — (48,175 ) 606 47,569 — Net cash provided by (used in) financing activities $ (41,037 ) $ (49,313 ) $ 661 $ 47,569 $ (42,120 ) Effect of exchange rate changes on cash — — 306 — 306 Net decrease in cash, cash equivalents and restricted cash — (4,700 ) (5,176 ) — (9,876 ) Cash, cash equivalents and restricted cash at beginning of period — 24,977 22,264 — 47,241 Cash, cash equivalents and restricted cash at end of period $ — $ 20,277 $ 17,088 $ — $ 37,365 Condensed consolidating statements of cash flows Six Months Ended June 30, 2018 FET (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities $ (34 ) $ (3,738 ) $ 1,985 $ (23,950 ) $ (25,737 ) Cash flows from investing activities Capital expenditures for property and equipment — (12,339 ) (1,801 ) — (14,140 ) Proceeds from sale of business, property and equipment — 4,743 4,066 — 8,809 Long-term loans and advances to affiliates 43,049 (6,282 ) — (36,767 ) — Net cash provided by (used in) investing activities $ 43,049 $ (13,878 ) $ 2,265 $ (36,767 ) $ (5,331 ) Cash flows from financing activities Borrowings of debt 50,000 — — — 50,000 Repayments of debt (90,803 ) (805 ) (70 ) — (91,678 ) Repurchases of stock (2,212 ) — — — (2,212 ) Long-term loans and advances to affiliates — (43,049 ) 6,282 36,767 — Dividend paid to affiliates — — (23,950 ) 23,950 — Net cash used in financing activities $ (43,015 ) $ (43,854 ) $ (17,738 ) $ 60,717 $ (43,890 ) Effect of exchange rate changes on cash — — (1,153 ) — (1,153 ) Net decrease in cash, cash equivalents and restricted cash — (61,470 ) (14,641 ) — (76,111 ) Cash, cash equivalents and restricted cash at beginning of period — 73,981 41,235 — 115,216 Cash, cash equivalents and restricted cash at end of period $ — $ 12,511 $ 26,594 $ — $ 39,105

Organization and Basis of Pre_2

Organization and Basis of Presentation - Narrative (Details) - segment	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3	3

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 53,958	$ 54,069
Operating lease liabilities	$ 66,622	64,506
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		54,000
Operating lease liabilities		$ 65,000

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Decrease in contract with customer assets	$ 710
Decrease in contract with customer liabilities	1,215
Revenue recognized	$ 8,000

Revenues - Schedule of Changes

Revenues - Schedule of Changes in Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Contract with Customer, Asset, after Allowance for Credit Loss [Abstract]
Accrued revenue	$ 873	$ 862
Costs and estimated profits in excess of billings	8,438	9,159
Contract assets	9,311	10,021
Decrease in contract with customer assets	$ (710)
Decrease in contract with customer asset, percentage	(7.00%)
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 8,046	8,335
Billings in excess of costs and profits recognized	2,284	3,210
Contract liabilities	10,330	$ 11,545
Decrease in contract with customer liabilities	$ (1,215)
Decrease in contract with customer liability, percentage	(11.00%)

Acquisitions & Dispositions - N

Acquisitions & Dispositions - Narrative (Details) $ in Thousands, £ in Millions	Oct. 05, 2018USD ($)	Jul. 02, 2018USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jan. 03, 2018USD ($)	Jan. 03, 2018GBP (£)
Business Acquisition [Line Items]
Reduction to contingent cash liability			$ 0		$ 0		$ 4,629	$ 0
(Gain) loss on contribution of subsea rentals business			$ 0		$ 0		$ 0	$ 33,506
Houston Global Heat Transfer LLC
Business Acquisition [Line Items]
Percentage of ownership acquired	100.00%
Acquisition of businesses, net of cash acquired	$ 57,300
Reduction to contingent cash liability				$ (4,600)
ESP Completion Technologies LLC
Business Acquisition [Line Items]
Payments to acquire business		$ 8,000
Subsea Rentals
Business Acquisition [Line Items]
Cash consideration received in sale of business | £										£ 2.7
Note receivable received as consideration in sale of business | £										£ 3
(Gain) loss on contribution of subsea rentals business						$ 33,500
Subsea rental assets carry value									$ 18,100
Ashtead Technology | Subsea Rentals
Business Acquisition [Line Items]
Equity interest received in sale of business									40.00%	40.00%
Equity ownership interest fair value									$ 43,800

Acquisitions & Dispositions - S

Acquisitions & Dispositions - Schedule of Assets Acquired and Liabilities Assumed (Details) - Houston Global Heat Transfer LLC $ in Thousands	Oct. 05, 2018USD ($)
Business Acquisition [Line Items]
Current assets, net of cash acquired	$ 18,468
Property and equipment	2,408
Non-current assets	238
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,746
Current liabilities	(12,633)
Long-term liabilities	(2,355)
Net assets acquired, net of cash acquired	$ 57,272

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and parts	$ 189,834	$ 212,526
Work in process	36,113	39,494
Finished goods	304,938	302,590
Gross inventories	530,885	554,610
Inventory reserve	(61,812)	(75,587)
Inventories	$ 469,073	$ 479,023

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 469,647
Purchase accounting adjustments	614
Impact of non-U.S. local currency translation	1,205
Goodwill ending balance	471,466
Drilling & Downhole
Goodwill [Roll Forward]
Goodwill beginning balance	191,151
Purchase accounting adjustments	427
Impact of non-U.S. local currency translation	(12)
Goodwill ending balance	191,566
Completions
Goodwill [Roll Forward]
Goodwill beginning balance	259,280
Purchase accounting adjustments	187
Impact of non-U.S. local currency translation	1,110
Goodwill ending balance	260,577
Production
Goodwill [Roll Forward]
Goodwill beginning balance	19,216
Purchase accounting adjustments	0
Impact of non-U.S. local currency translation	107
Goodwill ending balance	$ 19,323

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairments	$ 0	$ 0	$ 0	$ 0
Accumulated impairment loss on goodwill	$ 535,600,000		535,600,000		$ 535,600,000
Intangible asset impairment		$ 14,500,000	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (186,752)	$ (169,109)
Gross Carrying Amount	528,672	528,157
Net Amortizable Intangibles	341,920	359,048
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	337,838	337,546
Accumulated Amortization	(121,150)	(110,228)
Net Amortizable Intangibles	216,688	227,318
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	104,548	104,394
Accumulated Amortization	(20,624)	(17,148)
Net Amortizable Intangibles	83,924	87,246
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,261	6,245
Accumulated Amortization	(5,765)	(5,600)
Net Amortizable Intangibles	496	645
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	47,546	47,493
Accumulated Amortization	(20,385)	(18,107)
Net Amortizable Intangibles	27,161	29,386
Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,160	22,160
Accumulated Amortization	(18,234)	(17,602)
Net Amortizable Intangibles	3,926	4,558
Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,319	10,319
Accumulated Amortization	(594)	(424)
Net Amortizable Intangibles	$ 9,725	$ 9,895
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
Minimum | Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	15 years	15 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

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Oct. 31, 2013
Debt Instrument [Line Items]
Total debt	$ 479,151	$ 518,711
Unamortized debt premium	973	1,176
Debt issuance cost	(2,570)	(3,121)
Less: current maturities	(1,169)	(1,167)
Long-term debt	477,982	517,544
6.25% Senior Notes due October 2021
Debt Instrument [Line Items]
Total debt	$ 400,000	400,000
Debt stated interest rate	6.25%		6.25%
Other debt
Debt Instrument [Line Items]
Total debt	$ 1,748	1,656
2017 Credit Facility | Senior secured revolving credit facility
Debt Instrument [Line Items]
Total debt	$ 79,000	$ 119,000

Debt - Narrative (Details)

Debt - Narrative (Details)	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 30, 2017USD ($)	Nov. 30, 2013USD ($)	Oct. 31, 2013USD ($)
Debt Instrument [Line Items]
Debt instrument, carrying value		$ 479,151,000	$ 518,711,000
Outstanding letters of credit		$ 15,800,000	13,600,000
Senior Notes
Debt Instrument [Line Items]
Face amount					$ 100,000,000	$ 300,000,000
Debt stated interest rate		6.25%				6.25%
Issuance price of par percent					103.25%
Debt instrument, carrying value		$ 400,000,000	400,000,000
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		20,000,000
Line of credit facility, remaining borrowing capacity		$ 205,100,000
Percentage of borrowing base		10.00%
Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity				$ 140,000,000
Line of credit facility, maximum borrowing capacity				300,000,000
Credit Facility | Foreign Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				25,000,000
Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				30,000,000
Credit Facility | Letter of Credit | Canadian Subsidiaries
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				3,000,000
2017 Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate		4.48%
Unused capacity commitment fee percentage		0.375%
2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit accordion feature increase limit				$ 100,000,000
2017 Credit Facility | Credit Facility
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity		$ 299,400,000
Debt instrument, carrying value		79,000,000	$ 119,000,000
2017 Credit Facility | Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit outstanding		$ 15,200,000
Federal Funds Effective Swap Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		0.50%
London Interbank Offered Rate (LIBOR) | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		1.00%
CDOR Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		1.00%
Debt Instrument, Redemption, Period One | Credit Facility
Debt Instrument [Line Items]
Minimum leverage ratio		0.0175
Maximum leverage ratio		0.0225
Debt Instrument, Redemption, Period Two | Credit Facility
Debt Instrument [Line Items]
Maximum leverage ratio	4
Debt Instrument, Redemption, Period Three | Credit Facility
Debt Instrument [Line Items]
Minimum leverage ratio		0.0200
Maximum leverage ratio		0.0150
Percentage of borrowing base		50.00%
Debt Instrument, Redemption, Period Four | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Debt Instrument, Redemption, Period Five | Credit Facility
Debt Instrument [Line Items]
Maximum leverage ratio	4
Minimum | Credit Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio		1
Fixed charge coverage ratio consecutive days threshold		60 days
Minimum | Debt Instrument, Redemption, Period Five | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Maximum | Debt Instrument, Redemption, Period Five | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.375%

Leases - Narrative (Details)

Leases - Narrative (Details)	6 Months Ended
	Jun. 30, 2019
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	14 years

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Assets
Operating lease assets	$ 53,958	$ 54,069
Finance lease assets	1,045
Total lease assets	55,003
Current
Operating	13,416
Finance	269
Noncurrent
Operating	53,206
Finance	578
Total lease liabilities	$ 67,469

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 4,072	$ 8,212
Finance lease cost
Amortization of leased assets	93	165
Interest on lease liabilities	16	32
Sublease income	(357)	(566)
Net lease cost	$ 3,824	$ 7,843

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Operating Leases
2019	$ 8,974
2020	15,931
2021	13,561
2022	10,473
2023	7,407
2024	6,237
Thereafter	25,218
Total lease payments	87,801
Less: present value discount	(21,179)
Present value of lease liabilities	66,622	$ 64,506
Finance Leases
2019	73
2020	365
2021	365
2022	67
2023	17
2024	10
Thereafter	1
Total lease payments	898
Less: present value discount	(51)
Present value of lease liabilities	847
Total
2019	9,047
2020	16,296
2021	13,926
2022	10,540
2023	7,424
2024	6,247
Thereafter	25,219
Total lease payments	88,699
Less: present value discount	(21,230)
Total lease liabilities	$ 67,469

Leases - Schedule of Remaining

Leases - Schedule of Remaining Lease Term and Discount Rates (Details)	Jun. 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8 years
Financing leases	3 years
Weighted-average discount rate
Operating leases	6.58%
Financing leases	6.58%

Leases - Schedule of Lease Cash

Leases - Schedule of Lease Cash Flows (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Jun. 30, 2019	Jun. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$ 9,050
Operating cash flows from finance leases		32
Financing cash flows from finance leases		1,083
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases		8,798
Finance leases		525
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$ (884)	(1,268)	$ (2,122)
Operating lease assets	54,069	53,958
Operating lease liabilities	64,506	$ 66,622
Accrued liabilities	$ (11,321)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 8,393	$ 1,646	$ 10,120	$ (11,258)
Change in valuation allowance	$ 5,900		$ 5,900
Tax Cuts and Jobs Act measurement period tax benefit				$ 15,900
Tax Cuts and Jobs Act income tax benefit					$ 15,600

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 479,151	$ 518,711
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	400,000
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, carrying value	398,400	398,100
Debt instrument, fair value disclosure	369,500	362,000
2017 Credit Facility | Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 79,000	$ 119,000

Business Segments - Income Stat

Business Segments - Income Statement by Segment (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Dec. 31, 2018segment
Segment Reporting [Abstract]
Number of operating segments | segment			3		3
Segment Reporting Information [Line Items]
Total revenue	$ 245,648	$ 274,003	$ 517,490	$ 524,234
Segment operating income (loss)	736	(11,702)	5,033	(18,408)
Transaction expenses	125	59	718	1,395
Intangible asset impairments	0	14,477	0	14,477
Contingent consideration benefit	0	0	(4,629)	0
Loss (gain) on disposal of assets and other	16	(1,303)	36	(1,700)
Operating Segments
Segment Reporting Information [Line Items]
Segment operating income (loss)	877	1,531	1,158	(4,236)
Operating Segments | Drilling & Downhole
Segment Reporting Information [Line Items]
Total revenue	82,352	86,476	168,292	163,340
Segment operating income (loss)	1,342	(7,520)	(1,157)	(17,830)
Operating Segments | Completions
Segment Reporting Information [Line Items]
Total revenue	81,520	100,049	176,179	188,103
Segment operating income (loss)	2,841	14,190	9,692	23,151
Operating Segments | Production
Segment Reporting Information [Line Items]
Total revenue	83,255	88,599	175,250	175,020
Segment operating income (loss)	3,589	3,704	7,924	7,866
Eliminations
Segment Reporting Information [Line Items]
Total revenue	(1,479)	(1,121)	(2,231)	(2,229)
Corporate
Segment Reporting Information [Line Items]
Segment operating income (loss)	(6,895)	(8,843)	(15,301)	(17,423)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Transaction expenses	125	59	718	1,395
Intangible asset impairments	0	14,477	0	14,477
Contingent consideration benefit	0	0	(4,629)	0
Loss (gain) on disposal of assets and other	$ 16	$ (1,303)	$ 36	$ (1,700)

Business Segments - Assets by S

Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 1,821,711	$ 1,829,652
Operating Segments | Drilling & Downhole
Segment Reporting Information [Line Items]
Assets	670,333	663,414
Operating Segments | Completions
Segment Reporting Information [Line Items]
Assets	848,010	872,731
Operating Segments | Production
Segment Reporting Information [Line Items]
Assets	247,030	243,354
Corporate
Segment Reporting Information [Line Items]
Assets	$ 56,338	$ 50,153

Business Segments - Schedule of

Business Segments - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 245,648	$ 274,003	$ 517,490	$ 524,234
Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(1,479)	(1,121)	(2,231)	(2,229)
Drilling & Downhole | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	82,352	86,476	168,292	163,340
Completions | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	81,520	100,049	176,179	188,103
Production | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	83,255	88,599	175,250	175,020
Drilling Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	37,311	46,393	79,237	89,150
Downhole Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	28,785	26,571	59,210	51,098
Subsea Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	16,256	13,512	29,845	23,092
Stimulation and Intervention | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	46,898	60,526	98,209	111,586
Coiled Tubing | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	34,622	39,523	77,970	76,517
Production Equipment | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	33,009	35,269	69,577	66,725
Valve Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	$ 50,246	$ 53,330	$ 105,673	$ 108,295

Business Segments - Schedule _2

Business Segments - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 245,648	$ 274,003	$ 517,490	$ 524,234
United States
Segment Reporting Information [Line Items]
Total revenue	183,700	203,966	380,667	394,030
Canada
Segment Reporting Information [Line Items]
Total revenue	13,754	16,511	30,217	35,705
Europe & Africa
Segment Reporting Information [Line Items]
Total revenue	17,815	17,237	35,412	31,127
Middle East
Segment Reporting Information [Line Items]
Total revenue	12,460	16,388	31,745	26,958
Asia-Pacific
Segment Reporting Information [Line Items]
Total revenue	11,459	14,087	26,218	22,937
Latin America
Segment Reporting Information [Line Items]
Total revenue	$ 6,460	$ 5,814	$ 13,231	$ 13,477

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ (13,734)	$ (7,888)	$ (15,349)	$ 28,066	$ (21,622)	$ 12,717
Basic - weighted average shares outstanding (in shares)	109,987		108,714		109,816	108,569
Dilutive effect of stock options and restricted stock (in shares)	0		0		0	2,252
Diluted - weighted average shares outstanding (in shares)	109,987		108,714		109,816	110,821
Earnings (loss) per share
Basic (in USD per share)	$ (0.12)		$ (0.14)		$ (0.20)	$ 0.12
Diluted (in USD per share)	$ (0.12)		$ (0.14)		$ (0.20)	$ 0.11
Anti-dilutive shares excluded (in shares)						3,500

Stockholders' Equity (Details)

Stockholders' Equity (Details)	6 Months Ended
	Jun. 30, 2019shares
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)	1,362,621
Restricted Stock and Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	1,128,173
Award vesting period	3 years
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)	234,448
Award vesting period	12 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	390,896
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio (in shares)	0
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio (in shares)	2
February 2019 | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period	3 years

Condensed Consolidating Finan_3

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	$ 245,648		$ 274,003		$ 517,490	$ 524,234
Cost of sales	182,460		201,334		384,204	384,278
Gross profit	63,188		72,669		133,286	139,956
Operating Expenses
Selling, general and administrative expenses	62,881		71,488		131,849	143,579
Transaction expenses	125		59		718	1,395
Intangible asset impairments	0		14,477		0	14,477
Contingent consideration benefit	0		0		(4,629)	0
Loss (gain) on disposal of assets and other	16		(1,303)		36	(1,700)
Total operating expenses	63,022		84,721		127,974	157,751
Earnings from equity investment	570		350		(279)	(613)
Equity earnings (loss) from affiliate, net of tax	0		0		0	0
Operating income (loss)	736		(11,702)		5,033	(18,408)
Other expense (income)
Interest expense (income)	8,223		7,861		16,404	15,948
Foreign exchange and other gains, net	(2,146)		(5,860)		131	(2,309)
(Gain) loss on contribution of subsea rentals business	0		0		0	33,506
Total other expense (income), net	6,077		2,001		16,535	(19,867)
Income (loss) before income taxes	(5,341)		(13,703)		(11,502)	1,459
Income tax expense (benefit)	8,393		1,646		10,120	(11,258)
Net income (loss)	(13,734)	$ (7,888)	(15,349)	$ 28,066	(21,622)	12,717
Other comprehensive income, net of tax:
Net income (loss)	(13,734)	(7,888)	(15,349)	28,066	(21,622)	12,717
Change in foreign currency translation, net of tax of $0	(1,407)	4,834	(18,635)	6,287	3,427	(12,348)
Gain (loss) on pension liability	5	$ (9)	55	$ 16	(4)	71
Comprehensive income (loss)	(15,136)		(33,929)		(18,199)	440
Reportable Legal Entities | FET (Parent)
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	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
Intangible asset impairments			0			0
Contingent consideration benefit					0
Loss (gain) on disposal 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 (loss) from affiliate, net of tax	(5,386)		(9,072)		(5,028)	25,249
Operating income (loss)	(5,386)		(9,072)		(5,028)	25,249
Other expense (income)
Interest expense (income)	8,348		7,946		16,594	15,864
Foreign exchange and other gains, net	0		0		0	0
(Gain) loss on contribution of subsea rentals business						0
Total other expense (income), net	8,348		7,946		16,594	15,864
Income (loss) before income taxes	(13,734)		(17,018)		(21,622)	9,385
Income tax expense (benefit)	0		(1,669)		0	(3,332)
Net income (loss)	(13,734)		(15,349)		(21,622)	12,717
Other comprehensive income, net of tax:
Net income (loss)	(13,734)		(15,349)		(21,622)	12,717
Change in foreign currency translation, net of tax of $0	(1,407)		(18,635)		3,427	(12,348)
Gain (loss) on pension liability	5		55		(4)	71
Comprehensive income (loss)	(15,136)		(33,929)		(18,199)	440
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	205,953		241,127		442,759	460,076
Cost of sales	157,317		177,090		333,171	336,395
Gross profit	48,636		64,037		109,588	123,681
Operating Expenses
Selling, general and administrative expenses	52,148		58,739		109,558	118,812
Transaction expenses	175		59		718	1,388
Intangible asset impairments			0			0
Contingent consideration benefit					(4,629)
Loss (gain) on disposal of assets and other	81		(1,703)		159	(2,334)
Total operating expenses	52,404		57,095		105,806	117,866
Earnings from equity investment	107		15		(364)	5
Equity earnings (loss) from affiliate, net of tax	4,187		(18,300)		(2,421)	10,007
Operating income (loss)	526		(11,343)		997	15,827
Other expense (income)
Interest expense (income)	(70)		31		(81)	374
Foreign exchange and other gains, net	(123)		(109)		(51)	(109)
(Gain) loss on contribution of subsea rentals business						(5,856)
Total other expense (income), net	(193)		(78)		(132)	6,121
Income (loss) before income taxes	719		(11,265)		1,129	9,706
Income tax expense (benefit)	6,105		(2,193)		6,157	(15,543)
Net income (loss)	(5,386)		(9,072)		(5,028)	25,249
Other comprehensive income, net of tax:
Net income (loss)	(5,386)		(9,072)		(5,028)	25,249
Change in foreign currency translation, net of tax of $0	(1,407)		(18,635)		3,427	(12,348)
Gain (loss) on pension liability	5		55		(4)	71
Comprehensive income (loss)	(6,788)		(27,652)		(1,605)	12,972
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	49,964		47,987		100,177	91,740
Cost of sales	35,780		39,801		75,873	75,699
Gross profit	14,184		8,186		24,304	16,041
Operating Expenses
Selling, general and administrative expenses	10,733		12,749		22,291	24,767
Transaction expenses	(50)		0		0	7
Intangible asset impairments			14,477			14,477
Contingent consideration benefit					0
Loss (gain) on disposal of assets and other	(65)		400		(123)	634
Total operating expenses	10,618		27,626		22,168	39,885
Earnings from equity investment	463		335		85	(618)
Equity earnings (loss) from affiliate, net of tax	0		0		0	0
Operating income (loss)	4,029		(19,105)		2,221	(24,462)
Other expense (income)
Interest expense (income)	(55)		(116)		(109)	(290)
Foreign exchange and other gains, net	(2,023)		(5,751)		182	(2,200)
(Gain) loss on contribution of subsea rentals business						39,362
Total other expense (income), net	(2,078)		(5,867)		73	(41,852)
Income (loss) before income taxes	6,107		(13,238)		2,148	17,390
Income tax expense (benefit)	2,288		5,508		3,963	7,617
Net income (loss)	3,819		(18,746)		(1,815)	9,773
Other comprehensive income, net of tax:
Net income (loss)	3,819		(18,746)		(1,815)	9,773
Change in foreign currency translation, net of tax of $0	(1,407)		(18,635)		3,427	(12,348)
Gain (loss) on pension liability	5		55		(4)	71
Comprehensive income (loss)	2,417		(37,326)		1,608	(2,504)
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	(10,269)		(15,111)		(25,446)	(27,582)
Cost of sales	(10,637)		(15,557)		(24,840)	(27,816)
Gross profit	368		446		(606)	234
Operating Expenses
Selling, general and administrative expenses	0		0		0	0
Transaction expenses	0		0		0	0
Intangible asset impairments			0			0
Contingent consideration benefit					0
Loss (gain) on disposal 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 (loss) from affiliate, net of tax	1,199		27,372		7,449	(35,256)
Operating income (loss)	1,567		27,818		6,843	(35,022)
Other expense (income)
Interest expense (income)	0		0		0	0
Foreign exchange and other gains, net	0		0		0	0
(Gain) loss on contribution of subsea rentals business						0
Total other expense (income), net	0		0		0	0
Income (loss) before income taxes	1,567		27,818		6,843	(35,022)
Income tax expense (benefit)	0		0		0	0
Net income (loss)	1,567		27,818		6,843	(35,022)
Other comprehensive income, net of tax:
Net income (loss)	1,567		27,818		6,843	(35,022)
Change in foreign currency translation, net of tax of $0	2,814		37,270		(6,854)	24,696
Gain (loss) on pension liability	(10)		(110)		8	(142)
Comprehensive income (loss)	$ 4,371		$ 64,978		$ (3)	$ (10,468)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 37,365			$ 47,241
Accounts receivable—trade, net	180,613			206,055
Inventories, net	469,073			479,023
Prepaid expenses and other current assets	31,520			23,677
Accrued revenue	873			862
Costs and estimated profits in excess of billings	8,438			9,159
Total current assets	727,882			766,017
Property and equipment, net of accumulated depreciation	171,546			177,358
Operating lease assets	53,958		$ 54,069
Deferred financing costs, net	1,657			2,071
Intangible assets	341,920			359,048
Goodwill	471,466			469,647
Investment in unconsolidated subsidiary	44,537			44,982
Deferred income taxes, net	0			1,234
Other long-term assets	8,745			9,295
Investment in affiliates	0			0
Long-term advances to affiliates	0			0
Total assets	1,821,711			1,829,652
Current liabilities
Current portion of long-term debt	1,169			1,167
Accounts payable—trade	137,819			143,186
Accrued liabilities	74,978			81,032
Deferred revenue	8,046			8,335
Billings in excess of costs and profits recognized	2,284			3,210
Total current liabilities	224,296			236,930
Long-term debt, net of current portion	477,982			517,544
Deferred income taxes, net	20,112			15,299
Operating lease liabilities	53,206
Other long-term liabilities	25,904			29,753
Long-term payables to affiliates	0			0
Total liabilities	801,500			799,526
Total equity	1,020,211	$ 1,031,059		1,030,126	$ 1,417,975	$ 1,446,856	$ 1,409,016
Total liabilities and equity	1,821,711			1,829,652
Reportable Legal Entities | FET (Parent)
Current assets
Cash and cash equivalents	0			0
Accounts receivable—trade, net	0			0
Inventories, net	0			0
Prepaid expenses and other current assets	0			0
Accrued revenue	0			0
Costs and estimated profits in excess of billings	0			0
Total current assets	0			0
Property and equipment, net of accumulated depreciation	0			0
Operating lease assets	0
Deferred financing costs, net	1,657			2,071
Intangible assets	0			0
Goodwill	0			0
Investment in unconsolidated subsidiary	0			0
Deferred income taxes, net	0			0
Other long-term assets	0			0
Investment in affiliates	876,161			877,764
Long-term advances to affiliates	626,446			674,220
Total assets	1,504,264			1,554,055
Current liabilities
Current portion of long-term debt	0			0
Accounts payable—trade	0			0
Accrued liabilities	6,650			6,873
Deferred revenue	0			0
Billings in excess of costs and profits recognized	0			0
Total current liabilities	6,650			6,873
Long-term debt, net of current portion	477,403			517,056
Deferred income taxes, net	0			0
Operating lease liabilities	0
Other long-term liabilities	0			0
Long-term payables to affiliates	0			0
Total liabilities	484,053			523,929
Total equity	1,020,211			1,030,126
Total liabilities and equity	1,504,264			1,554,055
Reportable Legal Entities | Guarantor Subsidiaries
Current assets
Cash and cash equivalents	20,277			24,977
Accounts receivable—trade, net	148,730			177,986
Inventories, net	396,518			416,237
Prepaid expenses and other current assets	30,230			23,585
Accrued revenue	376			0
Costs and estimated profits in excess of billings	4,037			6,202
Total current assets	600,168			648,987
Property and equipment, net of accumulated depreciation	151,462			156,434
Operating lease assets	33,973
Deferred financing costs, net	0			0
Intangible assets	304,866			320,056
Goodwill	434,029			433,415
Investment in unconsolidated subsidiary	858			1,222
Deferred income taxes, net	0			1,170
Other long-term assets	4,331			4,194
Investment in affiliates	266,720			265,714
Long-term advances to affiliates	0			0
Total assets	1,796,407			1,831,192
Current liabilities
Current portion of long-term debt	1,143			1,150
Accounts payable—trade	110,500			121,019
Accrued liabilities	30,554			40,913
Deferred revenue	2,651			4,742
Billings in excess of costs and profits recognized	1,567			84
Total current liabilities	146,415			167,908
Long-term debt, net of current portion	525			480
Deferred income taxes, net	4,632			0
Operating lease liabilities	32,255
Other long-term liabilities	12,492			12,288
Long-term payables to affiliates	723,927			772,752
Total liabilities	920,246			953,428
Total equity	876,161			877,764
Total liabilities and equity	1,796,407			1,831,192
Reportable Legal Entities | Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	17,088			22,264
Accounts receivable—trade, net	31,883			28,069
Inventories, net	80,253			69,878
Prepaid expenses and other current assets	1,290			92
Accrued revenue	497			862
Costs and estimated profits in excess of billings	4,401			2,957
Total current assets	135,412			124,122
Property and equipment, net of accumulated depreciation	20,084			20,924
Operating lease assets	19,985
Deferred financing costs, net	0			0
Intangible assets	37,054			38,992
Goodwill	37,437			36,232
Investment in unconsolidated subsidiary	43,679			43,760
Deferred income taxes, net	0			64
Other long-term assets	4,414			5,101
Investment in affiliates	0			0
Long-term advances to affiliates	97,481			98,532
Total assets	395,546			367,727
Current liabilities
Current portion of long-term debt	26			17
Accounts payable—trade	27,319			22,167
Accrued liabilities	37,774			33,246
Deferred revenue	5,395			3,593
Billings in excess of costs and profits recognized	717			3,126
Total current liabilities	71,231			62,149
Long-term debt, net of current portion	54			8
Deferred income taxes, net	15,480			15,299
Operating lease liabilities	20,951
Other long-term liabilities	13,412			17,465
Long-term payables to affiliates	0			0
Total liabilities	121,128			94,921
Total equity	274,418			272,806
Total liabilities and equity	395,546			367,727
Eliminations
Current assets
Cash and cash equivalents	0			0
Accounts receivable—trade, net	0			0
Inventories, net	(7,698)			(7,092)
Prepaid expenses and other current assets	0			0
Accrued revenue	0			0
Costs and estimated profits in excess of billings	0			0
Total current assets	(7,698)			(7,092)
Property and equipment, net of accumulated depreciation	0			0
Operating lease assets	0
Deferred financing costs, net	0			0
Intangible assets	0			0
Goodwill	0			0
Investment in unconsolidated subsidiary	0
Deferred income taxes, net	0			0
Other long-term assets	0			0
Investment in affiliates	(1,142,881)			(1,143,478)
Long-term advances to affiliates	(723,927)			(772,752)
Total assets	(1,874,506)			(1,923,322)
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
Deferred income taxes, net	0			0
Operating lease liabilities	0
Other long-term liabilities	0			0
Long-term payables to affiliates	(723,927)			(772,752)
Total liabilities	(723,927)			(772,752)
Total equity	(1,150,579)			(1,150,570)
Total liabilities and equity	$ (1,874,506)			$ (1,923,322)

Condensed Consolidating Finan_5

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	$ 40,784	$ (25,737)
Cash flows from investing activities
Capital expenditures for property and equipment	(9,271)	(14,140)
Proceeds from sale of business, property and equipment	425	8,809
Long-term loans and advances to affiliates	0	0
Net cash used in investing activities	(8,846)	(5,331)
Cash flows from financing activities
Borrowings of debt	82,000	50,000
Repayments of debt	(123,083)	(91,678)
Repurchases of stock	(1,037)	(2,212)
Long-term loans and advances from affiliates	0	0
Dividend paid to affiliates		0
Net cash used in financing activities	(42,120)	(43,890)
Effect of exchange rate changes on cash	306	(1,153)
Net decrease in cash, cash equivalents and restricted cash	(9,876)	(76,111)
Cash, cash equivalents and restricted cash at beginning of period	47,241	115,216
Cash, cash equivalents and restricted cash at end of period	37,365	39,105
Reportable Legal Entities | FET (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(7,138)	(34)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0
Proceeds from sale of business, property and equipment	0	0
Long-term loans and advances to affiliates	48,175	43,049
Net cash used in investing activities	48,175	43,049
Cash flows from financing activities
Borrowings of debt	82,000	50,000
Repayments of debt	(122,000)	(90,803)
Repurchases of stock	(1,037)	(2,212)
Long-term loans and advances from affiliates	0	0
Dividend paid to affiliates		0
Net cash used in financing activities	(41,037)	(43,015)
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	53,246	(3,738)
Cash flows from investing activities
Capital expenditures for property and equipment	(8,452)	(12,339)
Proceeds from sale of business, property and equipment	425	4,743
Long-term loans and advances to affiliates	(606)	(6,282)
Net cash used in investing activities	(8,633)	(13,878)
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	(1,138)	(805)
Repurchases of stock	0	0
Long-term loans and advances from affiliates	(48,175)	(43,049)
Dividend paid to affiliates		0
Net cash used in financing activities	(49,313)	(43,854)
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	(4,700)	(61,470)
Cash, cash equivalents and restricted cash at beginning of period	24,977	73,981
Cash, cash equivalents and restricted cash at end of period	20,277	12,511
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(5,324)	1,985
Cash flows from investing activities
Capital expenditures for property and equipment	(819)	(1,801)
Proceeds from sale of business, property and equipment	0	4,066
Long-term loans and advances to affiliates	0	0
Net cash used in investing activities	(819)	2,265
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	55	(70)
Repurchases of stock	0	0
Long-term loans and advances from affiliates	606	6,282
Dividend paid to affiliates		(23,950)
Net cash used in financing activities	661	(17,738)
Effect of exchange rate changes on cash	306	(1,153)
Net decrease in cash, cash equivalents and restricted cash	(5,176)	(14,641)
Cash, cash equivalents and restricted cash at beginning of period	22,264	41,235
Cash, cash equivalents and restricted cash at end of period	17,088	26,594
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	0	(23,950)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0
Proceeds from sale of business, property and equipment	0	0
Long-term loans and advances to affiliates	(47,569)	(36,767)
Net cash used in investing activities	(47,569)	(36,767)
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	0	0
Repurchases of stock	0	0
Long-term loans and advances from affiliates	47,569	36,767
Dividend paid to affiliates		23,950
Net cash used in financing activities	47,569	60,717
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	$ 0	$ 0

Uncategorized Items - fet2019q2

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,006,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,006,000)