Forum Energy (FET) 10-K 4 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Feb. 25, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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	713
Local Phone Number	351-7900
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	FET
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 104.7
Entity Common Stock, Shares Outstanding		5,652,723
Documents Incorporated by Reference	Portions of our Proxy Statement for the 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this report.
Entity Central Index Key	0001401257
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Houston, Texas
Auditor Firm ID	34

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 541,068	$ 512,476
Cost of sales	417,727	523,497
Gross profit	123,341	(11,021)
Operating expenses
Selling, general and administrative expenses	168,886	197,677
Impairments of intangible assets, property and equipment	0	20,394
Loss (gain) on disposal of assets and other	(1,052)	2,531
Total operating expenses	167,834	220,602
Operating loss	(44,493)	(231,623)
Other expense (income)
Interest expense	32,009	30,268
Loss (gain) on extinguishment of debt	5,290	(72,478)
Deferred loan costs written off	0	2,262
Foreign exchange losses and other, net	217	6,470
Gain on disposition of business	0	(88,375)
Total other expense (income), net	37,516	(121,853)
Loss before income taxes	(82,009)	(109,770)
Income tax expense (benefit)	642	(12,881)
Net loss	$ (82,651)	$ (96,889)
Weighted average shares outstanding
Basic (in shares)	5,643	5,577
Diluted (in shares)	5,643	5,577
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ (14.65)	$ (17.37)
Diluted (in dollars per share)	$ (14.65)	$ (17.37)
Other comprehensive income (loss), net of tax of $0:
Net loss	$ (82,651)	$ (96,889)
Change in foreign currency translation	(1,479)	9,249
Gain (loss) on pension liability	840	(700)
Comprehensive loss	$ (83,290)	$ (88,340)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 46,858	$ 128,617
Accounts receivable—trade, net of allowances of $11,114 and $9,217	123,903	80,606
Inventories, net	241,740	251,747
Prepaid expenses and other current assets	23,702	19,018
Costs and estimated profits in excess of billings	8,285	8,516
Accrued revenue	2,245	1,687
Total current assets	446,733	490,191
Property and equipment, net of accumulated depreciation	94,005	113,668
Operating lease assets	25,431	31,520
Deferred financing costs, net	1,484	249
Intangibles, net	217,405	240,444
Deferred income taxes, net	203	102
Other long-term assets	6,075	13,752
Total assets	791,336	889,926
Current liabilities
Current portion of long-term debt	860	1,322
Accounts payable—trade	99,379	46,351
Accrued liabilities	58,436	67,581
Deferred revenue	7,276	7,863
Billings in excess of costs and profits recognized	9,705	1,817
Total current liabilities	175,656	124,934
Long-term debt, net of current portion	232,370	293,373
Deferred income taxes, net	834	1,952
Operating lease liabilities	34,745	44,536
Other long-term liabilities	18,605	18,895
Total liabilities	462,210	483,690
Commitments and contingencies
Equity
Common stock, $0.01 par value, 14,800,000 shares authorized, 6,100,886 and 5,992,400 shares issued	61	60
Additional paid-in capital	1,249,962	1,242,720
Treasury stock at cost, 467,153 and 410,877 shares	(135,562)	(134,499)
Retained deficit	(684,307)	(601,656)
Accumulated other comprehensive loss	(101,028)	(100,389)
Total equity	329,126	406,236
Total liabilities and equity	$ 791,336	$ 889,926

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 11,114	$ 9,217
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	14,800,000	14,800,000
Common stock, shares issued (in shares)	6,100,886	5,992,400
Treasury stock, shares, at cost (in shares)	467,153	410,877

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (82,651,000)	$ (96,889,000)
Adjustments to reconcile net loss to net cash provided by (used in) investing activities:
Impairments of intangible assets, property and equipment	0	20,394,000
Impairments of operating lease assets	0	15,370,000
Depreciation expense	17,064,000	24,484,000
Amortization of intangible assets	25,112,000	26,516,000
Stock-based compensation expense	7,594,000	9,784,000
Inventory write downs	8,096,000	100,794,000
Provision for doubtful accounts	2,424,000	1,127,000
Deferred income taxes	2,791,000	(149,000)
Gain on disposition of business	0	(88,375,000)
Loss (gain) on extinguishment of debt	5,290,000	(72,478,000)
Deferred loan costs written off	0	2,262,000
Other	5,210,000	3,703,000
Changes in operating assets and liabilities
Accounts receivable—trade	(44,959,000)	65,541,000
Inventories	1,935,000	51,621,000
Prepaid expenses and other current assets	(8,078,000)	17,794,000
Cost and estimated profits in excess of billings	84,000	(4,317,000)
Accounts payable, deferred revenue and other accrued liabilities	36,327,000	(69,399,000)
Billings in excess of costs and estimated profits earned	7,986,000	(3,900,000)
Net cash provided by (used in) operating activities	(15,775,000)	3,883,000
Cash flows from investing activities
Capital expenditures for property and equipment	(2,399,000)	(2,246,000)
Proceeds from the sale of property and equipment	7,007,000	5,292,000
Proceeds from settlement of note receivable	10,784,000	0
Acquisition of businesses, net of cash acquired	(3,411,000)	0
Proceeds from the sale of business	(1,283,000)	105,204,000
Net cash provided by investing activities	10,698,000	108,250,000
Cash flows from financing activities
Borrowings on revolving Credit Facility	0	182,322,000
Repayments on revolving Credit Facility	(13,126,000)	(169,196,000)
Cash paid to repurchase 2025 Notes and 2021 Notes	(58,596,000)	(40,270,000)
Bond exchange early participation payment	0	(3,500,000)
Repurchases of stock	(1,414,000)	(195,000)
Payment of capital lease obligations	(1,517,000)	(1,179,000)
Deferred financing costs	(1,590,000)	(9,747,000)
Net cash used in financing activities	(76,243,000)	(41,765,000)
Effect of exchange rate changes on cash	(439,000)	338,000
Net increase (decrease) in cash, cash equivalents and restricted cash	(81,759,000)	70,706,000
Cash, cash equivalents and restricted cash at beginning of period	128,617,000	57,911,000
Cash, cash equivalents and restricted cash at end of period	46,858,000	128,617,000
Supplemental cash flow disclosures
Cash paid for interest	27,068,000	23,763,000
Cash paid (refunded) for income taxes	2,444,000	(13,941,000)
Noncash investing and financing activities
Operating lease right of use assets obtained in exchange for lease obligations	2,340,000	4,505,000
Finance lease right of use assets obtained in exchange for lease obligations	463,000	1,401,000
Accrued purchases of property and equipment	$ 0	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Treasury stock	Retained deficit	Retained deficitCumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive income / (loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment for adoption of ASU	$ 486,039	$ (1,398)	$ 1,189	$ 1,231,650	$ (134,493)	$ (503,369)	$ (1,398)	$ (108,938)
Beginning balance at Dec. 31, 2019	486,039	$ (1,398)	1,189	1,231,650	(134,493)	(503,369)	$ (1,398)	(108,938)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures	(189)		7	(196)
Stock-based compensation expense	9,784			9,784
Shares issued in employee stock purchase plan	346		2	344
Treasury stock	(6)				(6)
Change in pension liability	(700)							(700)
Currency translation adjustment	9,249							9,249
1-for-20 reverse stock split	0		(1,138)	1,138
Net loss	(96,889)					(96,889)
Ending balance at Dec. 31, 2020	406,236		60	1,242,720	(134,499)	(601,656)		(100,389)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment for adoption of ASU	406,236		60	1,242,720	(134,499)	(601,656)		(100,389)
Restricted stock issuance, net of forfeitures	(351)		1	(352)
Stock-based compensation expense	7,594			7,594
Treasury stock	(1,063)				(1,063)
Change in pension liability	840							840
Currency translation adjustment	(1,479)							(1,479)
Net loss	(82,651)					(82,651)
Ending balance at Dec. 31, 2021	329,126		61	1,249,962	(135,562)	(684,307)		(101,028)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment for adoption of ASU	$ 329,126		$ 61	$ 1,249,962	$ (135,562)	$ (684,307)		$ (101,028)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	Nov. 09, 2020
Statement of Stockholders' Equity [Abstract]
Stock split, conversion ratio	0.05

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Forum Energy Technologies, Inc. (the “Company,” “FET,” “we,” “our,” or “us”), a Delaware corporation, is a global company serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, Texas with manufacturing, distribution and service facilities strategically located throughout the world.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain reclassifications have been made to prior year amounts to conform with the current year presentation. Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly and majority owned subsidiaries after elimination of intercompany balances and transactions. COVID-19 Impacts The outbreak of COVID-19 in 2020 caused significant disruptions in the U.S. and world economies which led to significant reductions in demand for crude oil. During 2021, distribution of vaccines resulted in reopening of certain economies and increasing demand for oil and natural gas. However, ongoing COVID-19 outbreaks and related work restrictions continue to contribute to disruptions in global supply chains which have led to inflationary pressures for certain goods and services. We anticipate that our liquidity, financial condition and future results of operations will continue to be impacted by ongoing developments from the COVID-19 pandemic. Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the preparation of these consolidated financial statements, estimates and assumptions have been made by management including, among others, an assessment of percentage of completion of projects based on costs to complete contracts, the selection of useful lives of tangible and intangible assets, expected future cash flows from long lived assets to support impairment tests, provisions necessary for trade receivables, amounts of deferred taxes and income tax contingencies. Actual results could differ from these estimates. The financial reporting of contracts depends on estimates, which are assessed continually during the term of those contracts. The amounts of revenues and income recognized are subject to revisions as the contract progresses to completion and changes in estimates are reflected in the period in which the facts that give rise to the revisions become known. Additional information that enhances and refines the estimating process that is obtained after the balance sheet date, but before issuance of the consolidated financial statements, is reflected in the consolidated financial statements. Cash and cash equivalents Cash and cash equivalents consist of cash on deposit and high quality, short term money market instruments with an original maturity of three months or less. Cash equivalents are based on quoted market prices, a Level 1 fair value measure. Accounts receivable-trade Trade accounts receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus receivables do not bear interest, although a finance charge may be applied to amounts past due. We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of our customers to make required payments. Such allowances are based upon several factors including, but not limited to, credit approval practices, industry and customer historical experience as well as the current and projected financial condition of the specific customer. Accounts receivable outstanding longer than contractual terms are considered past due. We write off accounts receivable to the allowance for doubtful accounts when they become uncollectible. Any payments subsequently received on receivables previously written off are credited to bad debt expense. The change in amounts of the allowance for doubtful accounts during the two year period ended December 31, 2021 is as follows (in thousands): Period ended Balance at beginning of period Charged to expense Deductions or other Balance at end of period December 31, 2020 9,048 1,127 (958) 9,217 December 31, 2021 9,217 2,424 (527) 11,114 Inventories Inventory consisting of finished goods and materials and supplies held for resale is carried at the lower of cost or net realizable value. For certain operations, cost, which includes the cost of raw materials and labor for finished goods, is determined using standard cost which approximates a first-in first-out basis. For other operations, this cost is determined on an average cost, first-in first-out or specific identification basis. Net realizable value means estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. We continuously evaluate inventories based on an analysis of inventory levels, historical sales experience and future sales forecasts, to determine obsolete, slow-moving and excess inventory. For the years ended December 31, 2021 and 2020, we recognized inventory write downs totaling $8.1 million and $100.8 million, respectively. These charges are all included in “ Cost of sales ” in the consolidated statements of comprehensive loss. See Note 5 Inventories for further information related to these charges. Property and equipment Property and equipment are stated at cost less accumulated depreciation. Finance leases of property and equipment are stated at the present value of future minimum lease payments. Expenditures for property and equipment and for items which substantially increase the useful lives of existing assets are capitalized at cost and depreciated over their estimated useful life utilizing the straight-line method. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method based on the estimated useful lives of assets, generally 2 to 30 years. Property and equipment held under finance leases are amortized straight-line over the shorter of the lease term or estimated useful life of the asset. Gains or losses resulting from the disposition of assets are recognized in income with the related asset cost and accumulated depreciation removed from the balance sheet. Assets acquired in connection with business combinations are recorded at fair value. We review long-lived assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization. For the year ended December 31, 2021, we did not recognize any property and equipment impairment charges. For the year ended December 31, 2020, we recognized property and equipment impairment charges totaling $15.1 million which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges. Lease Obligations 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 consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our 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 12 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. We review lease ROU assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined by means of an analysis of discounted future cash flows based on expected utilization. For the year ended December 31, 2021, we did not recognize any impairments of operating lease assets. For the year ended December 31, 2020, we recognized impairments of operating lease assets totaling $15.4 million which are included in “Cost of Sales” and “Selling, general and administrative expenses” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges. Intangible assets Intangible assets with definite lives are comprised of customer and distributor relationships, patents and technology, trade names, trademarks and non-compete agreements which are amortized on a straight-line basis over the life of the intangible asset, generally two For the year ended December 31, 2021, we did not recognize any impairments of intangible assets. For the year ended December 31, 2020, we recognized intangible asset impairment charges totaling $5.3 million which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges. Recognition of provisions for contingencies In the ordinary course of business, we are subject to various claims, suits and complaints. We, in consultation with internal and external legal advisors, will provide for a contingent loss in the consolidated financial statements if, at the date of the consolidated financial statements, it is probable that a liability has been incurred and the amount can be reasonably estimated. If it is determined that the reasonable estimate of the loss is a range and that there is no best estimate within that range, a provision will be made for the lower amount of the range. Legal costs are expensed as incurred. An assessment is made of the areas where potential claims may arise under contract warranty clauses. Where a specific risk is identified, and the potential for a claim is assessed as probable and can be reasonably estimated, an appropriate warranty provision is recorded. Warranty provisions are eliminated at the end of the warranty period except where warranty claims are still outstanding. The liability for product warranty is included in other accrued liabilities in the consolidated balance sheets. Revenue recognition and deferred revenue Revenue is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), 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. Contract Identification . We account for a contract when it is approved, both parties are committed, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collection of consideration is probable. Performance Obligations . A performance obligation is a promise in a contract to transfer a distinct good or service to the customer under ASC 606. The majority of our contracts with customers contain a single performance obligation to provide agreed-upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. In accordance with ASC 606, we do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We have elected to apply the practical expedient to account for shipping and handling costs associated with outbound freight after control of a product has transferred to a customer as a fulfillment cost which is included in Cost of Sales. Furthermore, since our customer payment terms are short-term in nature, we have also elected to apply the practical expedient which allows an entity to not adjust for the effects of a significant financing component if it expects that the customer’s payment period will be less than one year in duration. Contract Value . Revenue is measured based on the amount of consideration specified in the contracts with our customers and excludes any amounts collected on behalf of third parties. We have elected the practical expedient to exclude amounts collected from customers for all sales (and other similar) taxes. The estimation of total revenue from a customer contract is subject to elements of variable consideration. Certain customers may receive rebates or discounts which are accounted for as variable consideration. We estimate variable consideration as the most likely amount to which we expect to be entitled, and we include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue will not occur when the uncertainty associated with the variable consideration is resolved. Our estimate of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historic, current, forecast) that is reasonably available to us. Timing of Recognition . We recognize revenue when we satisfy a performance obligation by transferring control of a product or service to a customer. Our performance obligations are satisfied at a point in time or over time as work progresses. Revenue from goods transferred to customers at a point in time accounted for 91% of revenues for the year ended December 31, 2021. The majority of this revenue is product sales, which are generally recognized when items are shipped from our facilities and title passes to the customer. The amount of revenue recognized for products is adjusted for expected returns, which are estimated based on historical data. Revenue from goods transferred to customers over time accounted for 9% of revenues for the year ended December 31, 2021, which is related to certain contracts in our Subsea and Production Equipment product lines. Recognition over time for these contracts is supported by our assessment of the products supplied as having no alternative use to us and by clauses in the contracts that provide us with an enforceable right to payment for performance completed to date. We use the cost-to-cost method to measure progress for these contracts because it best depicts the transfer of assets to the customer which occurs as costs are incurred on the contract. The amount of revenue recognized is calculated based on the ratio of costs incurred to-date compared to total estimated costs which requires management to calculate reasonably dependable estimates of total contract costs. Whenever revisions of estimated contract costs and contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. We recognize revenue and cost of sales each period based upon the advancement of the work-in-progress unless the stage of completion is insufficient to enable a reasonably certain forecast of profit to be established. In such cases, no profit is recognized during the period. Accounting estimates during the course of projects may change, primarily related to our remotely operated vehicles (“ROVs”) which may take longer to manufacture. The effect of such a change, which can be upward as well as downward, is accounted for in the period of change, and the cumulative income recognized to date is adjusted to reflect the latest estimates. These revisions to estimates are accounted for on a prospective basis. Contracts are sometimes modified to account for changes in product specifications or requirements. Most of our contract modifications are for goods and services that are not distinct from the existing contract. As such, these modifications are accounted for as if they were part of the existing contract, and therefore, the effect of the modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue on a cumulative catch-up basis. No adjustment to any one contract was material to our consolidated financial statements for the years ended December 31, 2021 and 2020. We sell our products through a number of channels including a direct sales force, marketing representatives, and distributors. We have elected to expense sales commissions when incurred as the amortization period would be less than one year. These costs are recorded within cost of sales. Portfolio Approach . We have elected to apply ASC 606 to a portfolio of contracts with similar characteristics as we reasonably expect that the effects on the financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts within that portfolio. Disaggregated Revenue . Refer to Note 18 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, 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, we record a contract liability. Such contract liabilities typically result from billings in excess of costs incurred and advance payments received on product sales. Concentration of credit risk Trade accounts receivable are financial instruments which potentially subject the Company to credit risk. Trade accounts receivable consist of uncollateralized receivables from domestic and international customers. For the years ended December 31, 2021 and 2020, no one customer accounted for 10% or more of the total revenue or 10% or more of the total accounts receivable balance at the end of the respective period. Stock based compensation We measure all stock based compensation awards at fair value on the date they are granted to employees and directors, and recognize compensation cost over the requisite service period for awards with only a service condition, and over a graded vesting period for awards with service and performance or market conditions. The fair value of stock based compensation awards with market conditions is measured using a Monte Carlo Simulation model and, in accordance with Accounting Standards Codification Topic 718, is not adjusted based on actual achievement of the performance goals. The Black-Scholes option pricing model is used to measure the fair value of options. Forfeitures are accounted for as they occur. Income taxes We follow the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based upon temporary differences between the carrying amounts and tax bases of our assets and liabilities at the balance sheet date, and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period in which the change occurs. We record a valuation allowance in each reporting period when management believes that it is more likely than not that any deferred tax asset created will not be realized. See Note 11 Income Taxes for more information on valuation allowances recognized. Accounting guidance for income taxes requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. If a tax position meets the “more likely than not” recognition criteria, accounting guidance requires the tax position be measured at the largest amount of benefit greater than 50% likely of being realized upon ultimate settlement. Non-U.S. local currency translation We have global operations and the majority of our non-U.S. operations have designated the local currency as the functional currency. Realized and unrealized gains and losses resulting from re-measurements of monetary assets and liabilities denominated in a currency other than the local entity’s functional currency are included in the consolidated statements of comprehensive loss as incurred. Financial statements of our foreign operations where the functional currency is not the U.S. dollar are translated into U.S. dollars using the current rate method whereby assets and liabilities are translated at the balance sheet rate and income and expenses are translated at the average exchange rates in effect during the period. The resultant translation adjustments are reported as a component of accumulated other comprehensive loss within stockholders’ equity in our consolidated balance sheets. Fair value The carrying amounts for financial instruments classified as current assets and current liabilities approximate fair value, due to the short maturity of such instruments. The book values of other financial instruments, such as our debt related to the Credit Facility, approximates fair value because interest rates charged are similar to other financial instruments with similar terms and maturities and the rates vary in accordance with a market index. For financial assets and liabilities disclosed at fair value, fair value is determined as the exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The established fair value hierarchy divides fair value measurement into three broad levels: • Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; • Level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and • Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management. The financial assets and liabilities that are disclosed at fair value for disclosure purposes are categorized in one of the above three levels based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. 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 2021 Income Tax. In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740) - Disclosure Framework - Simplifying the Accounting for Income Taxes, which simplified the accounting for income taxes by removing certain exceptions to the general principles of Topic 740 and clarifying and amending existing guidance. We adopted this new standard as of January 1, 2021. The adoption of this new standard did not have a material impact on our consolidated financial statements. Accounting Standards Issued But Not Yet Adopted Convertible Debt. In August 2020, the FASB issued ASU No. 2020-06 Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. This update reduces the number of accounting models for convertible debt instruments resulting in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the

Revenues

Revenues	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Disaggregated Revenue Refer to Note 18 Business Segments for disaggregated revenue by product line and geography. Contract Balances The following table reflects the changes in our contract assets and contract liabilities balances for the year ended December 31, 2021: December 31, 2021 December 31, 2020 Increase $ % Accrued revenue $ 2,245 $ 1,687 Costs and estimated profits in excess of billings 8,285 8,516 Contract assets $ 10,530 $ 10,203 $ 327 3 % Deferred revenue $ 7,276 $ 7,863 Billings in excess of costs and profits recognized 9,705 1,817 Contract liabilities $ 16,981 $ 9,680 $ 7,301 75 % During the year ended December 31, 2021, our contract assets increased by $0.3 million and our contract liabilities increased by $7.3 million primarily due to the timing of billings on large projects in our Subsea Technologies product line. During the year ended December 31, 2021, we recognized revenue of $8.2 million that was included in the contract liability balance at the beginning of the period.

Acquisitions & Dispositions

Acquisitions & Dispositions	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions & Dispositions	Acquisitions & Dispositions 2021 Acquisition of Hawker Equipment Solutions On December 20, 2021, we acquired certain assets of Hawker Equipment Solutions, LLC (“Hawker”) for total cash consideration of $5.1 million, of which, $3.4 million was paid in the fourth quarter of 2021 with the balance expected to be paid over the next five years. Hawker is a manufacturer of hydraulic pickup and laydown units. This acquisition is included in the Drilling product line within 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. 2020 Disposition of ABZ and Quadrant Valves On December 31, 2020, we sold certain assets of our ABZ and Quadrant valve brands for cash consideration of $104.6 million. This transaction was accounted for as a disposition of a business. We recognized a gain on disposition of $88.4 million based on the difference in cash received less $15.0 million of net book value of assets sold and a $1.2 million working capital settlement liability which was paid in 2021. Pro forma results of operations for this disposition have not been presented because the effects were not material to the consolidated financial statements.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories The Company’s significant components of inventory at December 31, 2021 and 2020 were as follows (in thousands): December 31, December 31, Raw materials and parts $ 97,053 $ 151,531 Work in process 24,618 15,946 Finished goods 182,954 229,212 Gross inventories 304,625 396,689 Inventory reserve (62,885) (144,942) Inventories $ 241,740 $ 251,747 The change in the amounts of the inventory reserve during the two year period ended December 31, 2021 is as follows (in thousands): Period ended Balance at beginning of period Charged to expense Deductions or other Balance at end of period December 31, 2020 66,075 100,794 (21,927) $ 144,942 December 31, 2021 144,942 8,096 (90,153) $ 62,885 The $100.8 million charged to expense during the year ended December 31, 2020 includes significant write downs of inventory related to the Company’s decision to discontinue certain products and other changes to sourcing and manufacturing strategies.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consists of the following (in thousands): Estimated useful lives December 31, 2021 2020 Land $ 7,502 $ 8,476 Buildings and leasehold improvements 5-30 85,810 93,645 Computer equipment 3-5 43,853 44,607 Machinery & equipment 5-10 124,254 148,019 Furniture & fixtures 3-10 5,961 6,275 Vehicles 3-5 2,944 3,835 Right of use assets - finance leases 2-6 3,530 3,823 Rental equipment 3-10 2,112 3,830 Construction in progress 1,960 968 277,926 313,478 Less: accumulated depreciation (183,921) (199,810) Total property and equipment, net $ 94,005 $ 113,668 Depreciation expense was $17.1 million and $24.5 million for the years ended December 31, 2021 and 2020, respectively. For the year ended December 31, 2021, we did not recognize any property and equipment impairment charges. For the year ended December 31, 2020, we recognized property and equipment impairment charges totaling $15.1 million, which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets At December 31, 2021 and 2020, intangible assets consisted of the following, respectively (in thousands): December 31, 2021 Gross carrying Accumulated Net intangibles Amortization Customer relationships $ 269,589 $ (133,451) $ 136,138 10 - 15 Patents and technology 89,449 (29,785) 59,664 5 - 19 Non-compete agreements 191 (173) 18 2 - 6 Trade names 43,125 (25,187) 17,938 7 - 19 Trademark 5,089 (1,442) 3,647 15 Intangible Assets Total $ 407,443 $ (190,038) $ 217,405 December 31, 2020 Gross carrying Accumulated Net intangibles Amortization Customer relationships $ 272,470 $ (121,294) $ 151,176 10 - 15 Patents and technology 89,626 (24,440) 65,186 5 - 19 Non-compete agreements 190 (137) 53 2 - 6 Trade names 42,984 (22,941) 20,043 7 - 19 Trademark 5,089 (1,103) 3,986 15 Intangible Assets Total $ 410,359 $ (169,915) $ 240,444 Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. For the year ended December 31, 2021, we did not recognize any intangible asset impairment charges. For the year ended December 31, 2020, we recognized intangible asset impairment charges totaling $5.3 million, which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges. Amortization expense was $25.1 million and $26.5 million for the years ended December 31, 2021 and 2020, respectively. The estimated future amortization expense for the next five years is as follows (in thousands): Year ending December 31, Amount 2022 $ 25,161 2023 24,200 2024 22,881 2025 21,694 2026 20,837

Impairments of Long-Lived Asset

Impairments of Long-Lived Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairments of Long-Lived Assets	Impairments of Long-Lived Assets During the year ended December 31, 2020, the COVID-19 pandemic and associated preventative actions taken around the world to mitigate its spread caused oil demand to deteriorate and economic activity to decrease. As a result, oil prices declined significantly during the period and created an extremely challenging market for all sub-sectors of the oil and natural gas industry. In addition, responses to the spread of COVID-19, including significant government restrictions on movement, led to sharp declines in global economic activity. As a result, we determined that certain long-lived assets were impaired as their carrying values exceeded their fair values. The amount of the impairment charges were measured as the difference between the carrying value and the estimated fair value of the assets. The fair value was determined either through analysis of discounted future cash flows or, for certain real estate, based on a third party's sales price estimate (classified within level 3 of the fair value hierarchy). Following is a summary of impairment charges recognized in our segments during the year ended December 31, 2020 (in thousands): Impairments of: Drilling & Downhole Completions Production Corporate Total Impairments Property and equipment (1) 1,069 9,608 4,460 — 15,137 Intangible assets (1) 5,257 — — — 5,257 Operating lease right of use assets (2) 5,366 6,140 2,366 1,498 15,370 Total impairments $ 11,692 $ 15,748 $ 6,826 $ 1,498 $ 35,764 (1) These charges are included in Impairments of intangible assets, property and equipment in the condensed consolidated statements of comprehensive loss. (2) $10.8 million of these charges are included in Cost of sales, while $4.5 million are included in Selling, general and administrative expenses

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Notes payable and lines of credit as of December 31, 2021 and 2020 consisted of the following (in thousands): December 31, December 31, 2025 Notes 256,970 316,863 Unamortized debt discount (20,035) (30,248) Debt issuance cost (4,918) (7,318) Credit Facility — 13,126 Other debt 1,213 2,272 Total debt 233,230 294,695 Less: current maturities (860) (1,322) Long-term debt $ 232,370 $ 293,373 2025 Notes In August 2020, we exchanged $315.5 million principal amount of our previous 6.25% unsecured notes due 2021 (“2021 Notes”) for new 9.00% convertible secured notes due August 2025 (the “2025 Notes”). This transaction was accounted for as an extinguishment of the 2021 Notes with the new 2025 Notes recorded at fair value on the transaction date. We estimated the fair value of the 2025 Notes to be $282.6 million at the issuance date, resulting in a $32.9 million discount (“Debt Discount”) at issuance. As a result, we recognized a $28.7 million gain on extinguishment of debt that reflects the difference in the $314.8 million net carrying value of the 2021 Notes exchanged, including debt issuance costs and unamortized debt premium, less the $282.6 million estimated fair value of 2025 Notes and a $3.5 million early participation fee paid to bondholders that participated in the exchange. The Debt Discount is being amortized as non-cash interest expense over the term of the 2025 Notes using the effective interest method. The 2025 Notes pay interest at the rate of 9.00%, of which 6.25% is payable in cash and 2.75% is payable in cash or additional notes, at the Company’s option. The 2025 Notes are secured by a first lien on substantially all of the Company’s assets, except for Credit Facility priority collateral, which secures the 2025 Notes on a second lien basis. As of December 31, 2021, approximately $116.0 million principal amount of the 2025 Notes is mandatorily convertible into shares of our common stock at a conversion rate of 37.0370 shares per $1,000 principal amount of 2025 Notes converted, equivalent to a conversion price of $27.00 per share, subject, however, to the condition that the average of the daily trading prices for the common stock over the preceding 20-trading day period is at least $30.00 per share. Holders of the 2025 Notes also have optional conversion rights in the event that the Company elects to redeem the 2025 Notes in cash and at the final maturity of the new notes. Any interest that the Company elects to pay in additional notes is also subject to the mandatory and optional conversion rights. During the year ended December 31, 2021, we repurchased an aggregate $59.9 million of principal amount of our 2025 Notes for $58.6 million. The net carrying value of the extinguished debt, including unamortized debt discount and debt issuance costs, was $53.3 million, resulting in a $5.3 million loss on extinguishment of debt. Credit Facility In September 2021, we amended our senior secured revolving credit facility ("Credit Facility") to, among other things, extend the maturity date to September 2026, reduce the aggregate amount of the commitment under the Credit Facility, and change the interest rate applicable to outstanding loans. Following such amendment, our Credit Facility provides revolving credit commitments of $179.0 million (with a sublimit of up to $45.0 million available for the issuance of letters of credit for the account of the Company and certain of its domestic subsidiaries) (the “U.S. Line”), of which up to $20.0 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”). 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. Such eligible accounts receivable and eligible inventory serve as priority collateral for the Credit Facility, which is also secured on a second lien basis by substantially all of the Company's other assets. The amount of eligible inventory included in the borrowing base is restricted to the lesser of $127.5 million (subject to a quarterly reduction of $0.5 million ) and 80.0% of the total borrowing base. Our borrowing capacity under the Credit Facility could be reduced or eliminated, depending on future fluctuations in our receivables and inventory. As of December 31, 2021, our total borrowing base was $146.1 million , of which no amounts were drawn and $18.7 million was used for security of outstanding letters of credit, resulting in remaining availability of $127.4 million . Borrowings under the U.S. line bear interest at a rate equal to, at our option, either (a) the LIBOR rate, subject to a floor of 0.00%, plus a margin of 2.25% to 2.75%, or (b) a base rate plus a margin of 1.25% to 1.75%, in each case based upon the Company's quarterly total net leverage ratio. The U.S. line base rate is determined by reference to the greatest of (i) the federal funds rate plus 0.50% per annum, (ii) the one-month adjusted LIBOR plus 1.00% per annum, and (iii) the rate of interest announced, from time to time, by Wells Fargo at its principal office in San Francisco as its prime rate, subject to a floor of 0.00%. Borrowings under the Canadian Line bear interest at a rate equal to, at Forum Canada’s option, either (a) the CDOR rate, subject to a floor of 0.00%, plus a margin of 2.25% to 2.75%, or (b) a base rate plus a margin of 1.25% to 1.75%, in each case based upon the Company's quarterly net leverage ratio. The Canadian line base rate is determined by reference to the greater of (i) the one-month CDOR rate plus 1.00% and (ii) the prime rate for Canadian dollar commercial loans made in Canada as reported by Thomson Reuters, subject to a floor of 0.00%. The Credit Facility also provides for a commitment fee in the amount of (a) 0.375% on the unused portion of commitments if average usage of the Credit Facility is greater than 50% and (b) 0.500% on the unused portion of commitments if average usage of the Credit Facility is less than or equal to 50%. If excess availability under the Credit Facility falls below the greater of 12.5% of the borrowing base and $22.4 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. Furthermore, the Credit Facility includes an obligation to prepay outstanding loans with cash on hand in excess of certain thresholds and includes a cross-default to the 2025 Notes. Other Debt Other debt consists of various finance leases of equipment. Deferred loan costs We have incurred loan costs that have been deferred and are amortized to interest expense over the term of the 2025 Notes and the Credit Facility. In the first quarter of 2020, we wrote-off $2.0 million of deferred loan costs for the termination of previous discussions related to a potential exchange offer for our 2021 Notes. In connection with the September 2021 Credit Facility amendment, we deferred approximately $1.6 million of loan costs that will be amortized over the facility's remaining life. Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands): 2022 $ 860 2023 317 2024 97 2025 256,975 2026 — Thereafter — Total future payment $ 258,249 Add: Unamortized debt discount (20,035) Less: Debt issuance cost (4,918) Less: present value discount on finance leases $ (66) Total debt $ 233,230

Leases (Notes)

Leases (Notes)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands): As of Classification December 31, 2021 December 31, 2020 Assets Operating lease assets Operating lease assets $ 25,431 $ 31,520 Finance lease assets Property and equipment, net of accumulated depreciation 1,727 2,464 Total lease assets $ 27,158 $ 33,984 Liabilities Current Operating Accrued liabilities $ 10,956 $ 11,974 Finance Current portion of long-term debt 860 1,322 Noncurrent Operating Operating lease liabilities $ 34,745 44,536 Finance Long-term debt, net of current portion 353 $ 950 Total lease liabilities $ 46,914 $ 58,782 The following table summarizes the components of lease expenses for the twelve months ended December 31, 2021 (in thousands): Twelve Months Ended Lease Cost Classification 2021 2020 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 11,123 $ 8,439 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 1,061 932 Interest on lease liabilities Interest expense 110 155 Sublease income Cost of sales and Selling, general and administrative expenses (2,184) (2,001) Net lease cost $ 10,110 $ 7,525 The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2022 $ 13,199 $ 860 $ 14,059 2023 8,631 316 8,947 2024 7,053 97 7,150 2025 6,105 6 6,111 2026 5,053 — 5,053 Thereafter 15,862 — 15,862 Total lease payments 55,903 1,279 57,182 Less: present value discount (10,202) (66) (10,268) Present value of lease liabilities $ 45,701 $ 1,213 $ 46,914 The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2021: Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term (years) Operating leases 6.4 years 6.6 years Financing leases 1.5 years 1.8 years Weighted-average discount rate Operating leases 6.58 % 6.58 % Financing leases 6.58 % 6.58 % The following table summarizes the supplemental cash flow information related to leases as of December 31, 2021: Twelve Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 13,053 $ 11,038 Operating cash flows from finance leases 92 80 Financing cash flows from finance leases $ 1,517 $ 1,179
Leases	Leases Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands): As of Classification December 31, 2021 December 31, 2020 Assets Operating lease assets Operating lease assets $ 25,431 $ 31,520 Finance lease assets Property and equipment, net of accumulated depreciation 1,727 2,464 Total lease assets $ 27,158 $ 33,984 Liabilities Current Operating Accrued liabilities $ 10,956 $ 11,974 Finance Current portion of long-term debt 860 1,322 Noncurrent Operating Operating lease liabilities $ 34,745 44,536 Finance Long-term debt, net of current portion 353 $ 950 Total lease liabilities $ 46,914 $ 58,782 The following table summarizes the components of lease expenses for the twelve months ended December 31, 2021 (in thousands): Twelve Months Ended Lease Cost Classification 2021 2020 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 11,123 $ 8,439 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 1,061 932 Interest on lease liabilities Interest expense 110 155 Sublease income Cost of sales and Selling, general and administrative expenses (2,184) (2,001) Net lease cost $ 10,110 $ 7,525 The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2022 $ 13,199 $ 860 $ 14,059 2023 8,631 316 8,947 2024 7,053 97 7,150 2025 6,105 6 6,111 2026 5,053 — 5,053 Thereafter 15,862 — 15,862 Total lease payments 55,903 1,279 57,182 Less: present value discount (10,202) (66) (10,268) Present value of lease liabilities $ 45,701 $ 1,213 $ 46,914 The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2021: Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term (years) Operating leases 6.4 years 6.6 years Financing leases 1.5 years 1.8 years Weighted-average discount rate Operating leases 6.58 % 6.58 % Financing leases 6.58 % 6.58 % The following table summarizes the supplemental cash flow information related to leases as of December 31, 2021: Twelve Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 13,053 $ 11,038 Operating cash flows from finance leases 92 80 Financing cash flows from finance leases $ 1,517 $ 1,179

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of loss before income taxes for the years ended December 31, 2021 and 2020 are as follows (in thousands): 2021 2020 U.S. $ (98,445) $ (106,785) Non-U.S. 16,436 (2,985) Loss before income taxes $ (82,009) $ (109,770) The components of income tax expense (benefit) for the years ended December 31, 2021 and 2020 are as follows (in thousands): 2021 2020 Current U.S. federal and state $ 1,235 $ (17,219) Non-U.S. (3,384) 4,487 Total current (2,149) (12,732) Deferred U.S. federal and state (169) 723 Non-U.S. 2,960 (872) Total deferred 2,791 (149) Income tax expense (benefit) $ 642 $ (12,881) The reconciliation between the actual provision for income taxes and that computed by applying the U.S. statutory rate to loss before income taxes are outlined below (in thousands): 2021 2020 Income tax benefit at the statutory rate $ (17,222) (21.0) % $ (23,052) (21.0) % State taxes, net of federal tax benefit 22 — % (4,190) (3.8) % Non-U.S. operations (7,594) (9.3) % 625 0.6 % Domestic incentives (264) (0.3) % (264) (0.2) % Prior year federal, non-U.S. and state tax (7,183) (8.8) % (1,827) (1.7) % Nondeductible expenses 1,624 2.0 % 2,053 1.9 % U.S. CAREs Act 113 0.1 % (15,981) (14.6) % Valuation allowance 31,079 37.9 % 25,349 23.1 % Other 67 0.2 % 4,406 4.0 % Income tax benefit $ 642 0.8 % $ (12,881) (11.7) % Our effective tax rate was 0.8% and (11.7)% for the years ended December 31, 2021 and 2020, respectively. For the year ended December 31, 2020, we recognized a $16.0 million benefit related to a carryback claim for U.S. federal tax losses based on provisions in the U.S. Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) which was signed into law on March 27, 2020. The CARES Act provided relief to corporate taxpayers by permitting a five-year carryback of 2018-2020 NOLs, increased the 30% limitation on interest expense deductibility to 50% of adjusted taxable income for 2019 and 2020, and accelerated refunds for minimum tax credit carryforwards, among other provisions. The tax effects of changes in tax laws are recognized in the period in which the law is enacted. The tax benefit for the year ended December 31, 2021 and 2020 includes an increase in our valuation allowance of $31.1 million and $25.3 million, respectively, consisting of a full valuation allowance against our deferred tax assets in the U.S., U.K., Germany, Singapore, China and Saudi Arabia as further described below under the primary components of deferred taxes. The primary components of deferred taxes include (in thousands): 2021 2020 Deferred tax assets Reserves and accruals $ 3,978 $ 14,917 Operating lease liabilities 11,176 3,097 Inventory 14,692 37,784 Stock awards 2,340 2,180 Net operating loss and other tax carryforwards 109,402 53,781 Goodwill and intangible assets 32,513 39,381 Fair value discount on 2025 Notes 22,250 30,564 Property and equipment 6,424 — Other 1,912 931 Gross deferred tax assets 204,687 182,635 Valuation allowance (198,366) (167,287) Total deferred tax assets 6,321 15,348 Deferred tax liabilities Property and equipment — (6,861) Operating lease assets (6,490) (6,818) Prepaid expenses and other (462) (3,519) Total deferred tax liabilities (6,952) (17,198) Net deferred tax liabilities $ (631) $ (1,850) Goodwill from certain acquisitions is tax deductible due to the acquisition structure as an asset purchase or due to tax elections made by the Company and the respective sellers at the time of acquisition. We have deferred tax assets related to net operating loss and other tax 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. At December 31, 2021, we had $243.6 million of U.S. net operating loss carryforwards and $10.1 million of state net operating losses. Of these losses, $14.9 million will expire no later than 2037 if they are not utilized prior to that date. The remaining $238.8 million will not expire. We also had $186.9 million of non-U.S. net operating loss carryforwards with indefinite expiration dates. The ultimate realization of income tax benefits for these net operating loss carryforwards depends on our ability to generate sufficient taxable income in the respective taxing jurisdictions. Where we have unrecognized tax benefits in jurisdictions with existing net operating losses, we utilize the unrecognized tax benefits as a source of income to offset such losses. 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, Singapore, China and Saudi Arabia. During 2021, we recognized $31.1 million of tax expense related to the increase in our valuation allowance provided against our deferred tax assets to write down our deferred tax assets in these jurisdictions to what is more likely than not realizable. We increased our valuation allowance related to our U.S. and foreign deferred tax assets by $15.6 million and $15.5 million, respectively. In making such a determination for each of these jurisdictions, we considered all available positive and negative evidence, including our recent history of pretax losses over the prior three year period, the goodwill and intangible asset impairments for various reporting units, the future reversals of existing taxable temporary differences, the projected future taxable income or loss and tax-planning. Deferred tax liabilities arising from the difference between the financial reporting and income tax bases inherent in our foreign subsidiaries, referred to as outside basis differences, have not been provided for U.S. income tax purposes because we do not intend to sell, liquidate or otherwise trigger the recognition of U.S. taxable income with regard to our investment in these foreign subsidiaries. Determining the amount of U.S. deferred tax liabilities associated with outside basis differences is not practicable at this time. We file income tax returns in the U.S. as well as in various states and non-U.S. jurisdictions. With few exceptions, we are no longer subject to income tax examination by tax authorities in these jurisdictions prior to 2015. We account for uncertain tax positions in accordance with guidance in Accounting Standards Codification Topic 740, which prescribes the minimum recognition threshold a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands): Balance at January 1, 2021 $ 12,382 Additional based on tax positions related to prior years 367 Additional based on tax positions related to current year 1,712 Reduction based on tax positions related to prior years — Settlement with tax authorities — Lapse of statute of limitations (6,103) Balance at December 31, 2021 8,358 The total amount of unrecognized tax benefits at December 31, 2021 was $8.4 million, of which it is reasonably possible that $1.6 million could be settled during the next twelve-month period as a result of the conclusion of various tax audits or due to the expiration of the applicable statute of limitations. We estimate that $8.4 million of the unrecognized tax benefits at December 31, 2021, excluding consideration of valuation allowance, would impact our future effective income tax rate, if recognized. We recognize interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statements of comprehensive loss. As of December 31, 2021 and 2020, we had accrued approximately $0.5 million and $1.4 million in interest and penalties, respectively. During the years ended December 31, 2021 and 2020, we recognized no material change in the interest and penalties related to uncertain tax positions.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company had zero and $13.1 million outstanding under the Credit Facility at December 31, 2021 and December 31, 2020, respectively. The Credit Facility 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 the Company’s Senior Notes is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those or similar instruments. At December 31, 2021, the fair value and the carrying value of the Company’s 2025 Notes approximated $225.0 million and $232.0 million, respectively. At December 31, 2020, the fair value and the carrying value of the Company’s 2021 Notes approximated $200.3 million and $279.3 million, respectively. There were no other significant outstanding financial instruments as of December 31, 2021 and 2020 that required measuring the amounts at fair value on a recurring basis. The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods. and there were no transfers between levels of the fair value hierarchy during the year ended December 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation In the ordinary course of business, the Company is, and in the future, could be involved in various pending or threatened legal actions, some of which may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are believed to be probable and can be estimated. The reserves accrued at December 31, 2021 and 2020 are immaterial. In the opinion of management, 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. Asbestos litigation One of our subsidiaries has been named as one of many defendants in a number of product liability claims for alleged exposure to asbestos used in valves. These lawsuits are typically filed on behalf of plaintiffs who allege exposure to asbestos, against numerous defendants, often forty or more, who are alleged to have manufactured or distributed products containing asbestos. The injuries alleged by plaintiffs in these cases range from mesothelioma and other cancers to asbestosis. The earliest claims against our subsidiary were filed in New Jersey in 1998, and our subsidiary currently has active cases in Missouri, New Jersey, New York, Illinois and Delaware. These complaints do not typically include requests for a specific amount of damages. Our subsidiary acquired the trademark for the product line in question in 1985. To date, most of the claims against our subsidiary alleging illnesses due to asbestos have generally been based on products manufactured by the previous owner prior to 1985 that are alleged to have contained asbestos. Many claimants alleging illnesses due to asbestos sue on the basis of exposure prior to 1985, as by that date the hazards of asbestos exposure were well known and asbestos had begun to fall into disuse. Our subsidiary has been successful in obtaining dismissals in most lawsuits without any cash contribution including because the “successor liability” law in most states does not hold a purchaser in good faith liable for the actions of the seller prior to the acquisition date unless the purchaser contractually assumed the liabilities, which our subsidiary did not. There are exceptions to the successor liability doctrine in many states, so there are no assurances that our subsidiary will not be found liable for the actions of its predecessor. The law in other states on so called “successor liability” may be different or ambiguous in this regard, and could also expose our subsidiary to liability. Our subsidiary could also be found liable should a trier of fact reject our subsidiary’s position that it is not responsible for the alleged asbestos injuries, such as in a case where a plaintiff alleges post-1985 exposure. To date, asbestos claims have not had a material adverse effect on our business, financial condition, results of operations, or cash flow, as our annual out-of-pocket costs over the last five years has been less than $200,000. There were fewer than 25 new cases filed against our subsidiary in each of last two years, and a significant number of existing cases were dismissed, settled or otherwise disposed of over the last year. We currently have fewer than 150 lawsuits pending against this subsidiary. Our subsidiary has over $17 million in face amount of insurance per occurrence and over $23 million of aggregate primary insurance coverage. In addition, our subsidiary has over $950 million in face amount of excess coverage applicable to the claims. There can be no guarantee that all of this can be collected due to policy terms and conditions and insurer insolvencies in the past or in the future. In January 2011, we entered into an agreement with seven of our primary insurers under which they have agreed to pay 80% of the costs of handling and settling each asbestos claim against the affected subsidiary. The insurers’ portion of the settlements is funded by our primary insurance limits, which are eroded only by settlements and not legal fees. Approximately $2.0 million in settlements has been paid by insurers and our subsidiary to date, with approximately $40,000 paid over the course of the last two years. Our subsidiary and the subscribing insurers have the right to withdraw from this agreement, but to date, no party has exercised this right or expressed an intent to do so. Portland Harbor Superfund litigation In May 2009, one of the Company’s subsidiaries (which is presently a dormant company with nominal assets except for rights under insurance policies) was named along with many defendants in a suit filed by the Port of Portland, Oregon seeking reimbursement of costs related to a five-year study of contaminated sediments at the port. In March 2010, the subsidiary also received a notice letter from the Environmental Protection Agency indicating that it had been identified as a potentially responsible party with respect to environmental contamination in the “study area” for the Portland Harbor Superfund Site. Under a 1997 indemnity agreement, the subsidiary is indemnified by a third party with respect to losses relating to environmental contamination. As required under the indemnity agreement, the subsidiary provided notice of these claims, and the indemnitor has assumed responsibility and is providing a defense of the claims. Although the Company believes that it is unlikely that the subsidiary contributed to the contamination at the Portland Harbor Superfund Site, the potential liability of the subsidiary and the ability of the indemnitor to fulfill its indemnity obligations cannot be quantified at this time. Tenaris litigation In October of 2017, one of our subsidiaries, Global Tubing, LLC, filed suit against Tenaris Coiled Tubes, LLC and Tenaris, S.A. (together “Tenaris”) in the United States District Court for the Southern District of Texas seeking a declaration that its DURACOIL TM products do not infringe certain Tenaris patents related to coiled tubing. Tenaris filed counterclaims against Global Tubing alleging DURACOIL TM products infringe three patents. Tenaris seeks unspecified damages and a permanent injunction. Global Tubing is vigorously defending itself and alleges the Tenaris patents are invalid and unenforceable. While Global Tubing believes that it will prevail on all claims, if Tenaris were to obtain a permanent injunction, Global Tubing may be barred from selling certain of its DURACOIL TM products. Operating leases The Company has operating leases for warehouses, office space, manufacturing facilities and equipment. The leases generally require the Company to pay certain expenses including taxes, insurance, maintenance, and utilities. See Note 10 Leases for further information. Letters of credit and guarantees

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share The reconciliation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts): Year ended December 31, 2021 2020 Net loss attributable to common stockholders $ (82,651) $ (96,889) Basic - weighted average shares outstanding 5,643 5,577 Dilutive effect of stock options and restricted stock — — Dilutive effect of convertible 2025 Notes — — Diluted - weighted average shares outstanding 5,643 5,577 Loss per share Basic $ (14.65) $ (17.37) Diluted $ (14.65) $ (17.37)

Stockholders' Equity and Employ

Stockholders' Equity and Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Stockholders' Equity and Employee Benefit Plans	Stockholders' Equity and Employee Benefit Plans Employee benefit plans We sponsor a 401(k) savings plan for U.S. employees and related savings plans for certain non-U.S. employees. These plans benefit eligible employees by allowing them the opportunity to make contributions up to certain limits. We contribute by matching a percentage of each employee’s contributions. In 2020, for certain plans, the Company temporarily suspended the matching of contributions. Matching contributions were reinstated at the beginning of 2022. Subsequent to the closing of all acquisitions, employees of those acquired entities will generally be eligible to participate in the Company’s 401(k) savings plan. We also have the discretion to provide a profit sharing contribution to each participant depending on the Company’s performance for the applicable year. The expense under the Company’s plan was zero and $2.3 million for the years ended December 31, 2021 and 2020, respectively. Reverse stock split In order to bring the Company into compliance with the listing requirements of the New York Stock Exchange, our Board of Directors approved a 1-for-20 reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock, par value $0.01 per share, accompanied by a corresponding decrease in the Company’s authorized shares of common stock. The Company’s stockholders previously approved the Reverse Stock Split at the annual meeting of stockholders on May 12, 2020. The effective time of the Reverse Stock Split was after market close on November 9, 2020, with the common stock trading on a post-split basis under the Company’s existing trading symbol, “FET,” at the market open on November 10, 2020. No fractional shares of common stock were issued as a result of the Reverse Stock Split. Instead, any stockholder who would have been entitled to a fractional share received a cash payment in lieu of such fractional shares.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Long-Term Incentive Compensation	Long-Term Incentive Compensation FET stock based compensation plan The following share and per-share information has been retroactively adjusted to reflect the effect of the 1-for-20 Reverse Stock Split. See Note 15. Stockholders' Equity and Employee Benefit Plans for further information. In August 2010, we created the 2010 Stock Incentive Plan (the “2010 Plan”) to allow for employees, directors and consultants of the Company and its subsidiaries to maintain stock ownership in the Company through the award of stock options, restricted stock, restricted stock units, performance shares or any combination thereof. Under the terms of the 2010 Plan, a total of 925 thousand shares were authorized for awards. In May 2016, we created a new 2016 Stock and Incentive Plan (the “2016 Plan”). Under the terms of the 2016 Plan, the aggregate number of shares that may be issued may not exceed the number of shares reserved but not issued under the 2010 Plan as of May 17, 2016, the effective date of the 2016 plan, a total of 285 thousand shares. No further awards will be made under the 2010 Plan after such date, and outstanding awards granted under the 2010 Plan shall continue to be outstanding. In May 2019, our stockholders approved to amend and restate the 2016 Plan (the “2016 Amended Plan”) to provide for an additional 145 thousand shares and revised certain terms thereof. In May 2020, our stockholders approved an amendment to the 2016 Amended Plan to provide for an additional 60 thousand shares. Approximately 105 thousand shares remained available under the 2016 Amended Plan for future grants as of December 31, 2021. The total amount of stock based compensation expense recorded was $7.6 million and $9.8 million for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the Company expects to record stock based compensation expense of approximately $11.4 million over a weighted average remaining term of approximately two years. Future grants will result in additional compensation expense. Stock options The exercise price of each option is based on the fair market value of the Company’s stock at the date of grant. Options generally have a ten-year life and vest annually in equal increments over four years. Our policy for issuing stock upon a stock option exercise is to issue new shares. Compensation expense is recognized on a straight line basis over the vesting period. The following table provides additional information related to stock options: 2021 Activity Number of shares Weighted average exercise price Remaining weighted average contractual life in years Intrinsic value Beginning balance 95 $ 358.31 3.5 $ — Forfeited/expired (20) $ 362.07 Total outstanding 75 $ 357.34 3.2 $ — Options exercisable 75 $ 358.46 3.2 $ — The intrinsic value is the amount by which the fair value of the underlying share exceeds the exercise price of the stock option. No stock options were exercised in 2021 or 2020. As of December 31, 2021 and 2020, the share price of the Company was less than the exercise price for all outstanding stock options. Therefore, the intrinsic value for stock options outstanding and exercisable were both zero. No stock options were granted in 2021 or 2020. Restricted stock Restricted stock generally vests over a period of one 2021 Activity Restricted stock (shares in thousands) Nonvested at beginning of year — Granted 10 Vested — Nonvested at the end of year 10 The weighted average grant date fair value of restricted stock granted during the year ended December 31, 2021 was $23.36 per share. The total grant date fair value of shares vested was $1.5 million during 2020. Restricted stock units Restricted stock units generally vest over a three four 2021 Activity Restricted stock units (shares in thousands) Nonvested at beginning of year 331 Granted 140 Vested (113) Forfeited (2) Nonvested at the end of year 356 Of the restricted stock units granted during 2021, 73,839 shares vest ratably over three years and 66,524 shares vest ratably over three years dependent upon achieving a minimum stock price of $23.49 for 20 trading days during each performance period. The weighted average grant date fair value of the restricted stock units was $18.20 and $12.83 per share during the years ended December 31, 2021, and 2020, respectively. The total grant date fair value of units vested was $5.3 million and $10.3 million during 2021 and 2020, respectively. Liability-classified awards During 2021, we granted 66,524 cash-settled phantom stock units to employees that vest ratably over three years. These awards have a maximum payout that is calculated based on five times the stock price on the date of grant. The Company also granted 73,839 cash-settled contingent phantom stock units to employees that vest ratably over three years dependent upon achieving a minimum stock price of $23.49 for 20 trading days during each performance period. These awards also have a maximum payout that is calculated based on five times the stock price on the date of grant. Stock appreciation rights In the fourth quarter of 2019, we granted stock appreciation rights with service-vesting and market-vesting conditions. The following table provides additional information related to our stock appreciation rights: 2021 Activity Stock Appreciation Rights (in thousands) Nonvested at beginning of year 248 Granted — Forfeited (11) Nonvested at the end of year 237 The grant date fair value of the stock appreciation rights was $3.86. The stock appreciation rights will vest on the third anniversary from the grant date if the a verage closing price of a share of our Common Stock over the twenty

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe Company has sold and purchased inventory, services and fixed assets to and from various affiliates of certain directors. The dollar amounts related to these related party activities are not significant to our consolidated financial statements.

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Business Segments	Business Segments The Company reports results of operations in the following three reporting segments: Drilling & Downhole, Completions and Production. The amounts indicated below as “Corporate” relate to costs and assets not allocated to the reportable segments. 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, including applications in oil and natural gas, renewable energy, defense, and communications. The Completions segment designs, manufactures and supplies products and provides related services to the coiled tubing, well 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. Summary financial data by segment follows (in thousands): Year ended December 31, 2021 2020 Revenue: Drilling & Downhole $ 239,895 $ 216,836 Completions 185,018 118,685 Production 116,710 177,510 Eliminations (555) (555) Total revenue $ 541,068 $ 512,476 Segment operating income (loss): Drilling & Downhole $ 4,749 $ (47,964) Completions (4,532) (97,304) Production (14,354) (33,418) Corporate (31,408) (30,012) Total segment operating loss (45,545) (208,698) Impairments of intangible assets, property and equipment — 20,394 Loss (gain) on disposal of assets and other (1,052) 2,531 Operating loss $ (44,493) $ (231,623) Depreciation and amortization Drilling & Downhole $ 14,536 $ 17,895 Completions 22,568 24,831 Production 4,769 7,755 Corporate 303 519 Total depreciation and amortization $ 42,176 $ 51,000 A summary of capital expenditures by reportable segment is as follows (in thousands): Year ended December 31, Capital expenditures 2021 2020 Drilling & Downhole $ 1,476 $ 462 Completions 512 275 Production 411 287 Corporate — 1,222 Total capital expenditures $ 2,399 $ 2,246 A summary of consolidated assets by reportable segment is as follows (in thousands): Year ended December 31, Assets 2021 2020 Drilling & Downhole $ 313,493 $ 314,375 Completions 351,908 356,645 Production 83,150 92,949 Corporate 42,785 125,957 Total assets $ 791,336 $ 889,926 Corporate assets primarily include cash, certain prepaid expenses and deferred loan costs. A summary of long-lived assets by country is as follows (in thousands): Year ended December 31, Long-lived assets: 2021 2020 United States $ 298,171 $ 332,554 Europe 25,956 42,424 Canada 14,977 17,796 Asia-Pacific 221 836 Middle East 4,412 4,877 Latin America 866 1,248 Total long-lived assets $ 344,603 $ 399,735 The following table presents our revenues disaggregated by geography based on shipping destination (in thousands): Year ended December 31, 2021 2020 Revenue: $ % $ % United States $ 324,376 60.0 % $ 323,322 63.2 % Canada 41,822 7.7 % 30,492 5.9 % Europe & Africa 59,207 10.9 % 37,438 7.3 % Middle East 48,352 8.9 % 43,192 8.4 % Asia-Pacific 36,641 6.8 % 48,067 9.4 % Latin America 30,670 5.7 % 29,965 5.8 % Total Revenue $ 541,068 100.0 % $ 512,476 100.0 % The following table presents our revenues disaggregated by product line (in thousands): Year ended December 31, 2021 2020 Revenue: $ % $ % Drilling Technologies $ 96,680 17.8 % $ 97,232 19.1 % Downhole Technologies 69,215 12.8 % 64,083 12.5 % Subsea Technologies 74,000 13.7 % 55,521 10.8 % Stimulation and Intervention 96,731 17.9 % 56,460 11.0 % Coiled Tubing 88,287 16.3 % 62,225 12.1 % Production Equipment 60,981 11.3 % 65,763 12.8 % Valve Solutions 55,729 10.3 % 111,747 21.8 % Eliminations (555) (0.1) % (555) (0.1) % Total revenue $ 541,068 100.0 % $ 512,476 100.0 %

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain reclassifications have been made to prior year amounts to conform with the current year presentation.
Principles of consolidation	Principles of consolidationThe consolidated financial statements include the accounts of the Company and its wholly and majority owned subsidiaries after elimination of intercompany balances and transactions.
COVID-19 Impacts	COVID-19 Impacts The outbreak of COVID-19 in 2020 caused significant disruptions in the U.S. and world economies which led to significant reductions in demand for crude oil. During 2021, distribution of vaccines resulted in reopening of certain economies and increasing demand for oil and natural gas. However, ongoing COVID-19 outbreaks and related work restrictions continue to contribute to disruptions in global supply chains which have led to inflationary pressures for certain goods and services. We anticipate that our liquidity, financial condition and future results of operations will continue to be impacted by ongoing developments from the COVID-19 pandemic.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the preparation of these consolidated financial statements, estimates and assumptions have been made by management including, among others, an assessment of percentage of completion of projects based on costs to complete contracts, the selection of useful lives of tangible and intangible assets, expected future cash flows from long lived assets to support impairment tests, provisions necessary for trade receivables, amounts of deferred taxes and income tax contingencies. Actual results could differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash on deposit and high quality, short term money market instruments with an original maturity of three months or less. Cash equivalents are based on quoted market prices, a Level 1 fair value measure.
Accounts receivable-trade	Accounts receivable-trade Trade accounts receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus receivables do not bear interest, although a finance charge may be applied to amounts past due. We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of our customers to make required payments. Such allowances are based upon several factors including, but not limited to, credit approval practices, industry and customer historical experience as well as the current and projected financial condition of the specific customer. Accounts receivable outstanding longer than contractual terms are considered past due. We write off accounts receivable to the allowance for doubtful accounts when they become uncollectible. Any payments subsequently received on receivables previously written off are credited to bad debt expense.
Inventories	Inventories Inventory consisting of finished goods and materials and supplies held for resale is carried at the lower of cost or net realizable value. For certain operations, cost, which includes the cost of raw materials and labor for finished goods, is determined using standard cost which approximates a first-in first-out basis. For other operations, this cost is determined on an average cost, first-in first-out or specific identification basis. Net realizable value means estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. We continuously evaluate inventories based on an analysis of inventory levels, historical sales experience and future sales forecasts, to determine obsolete, slow-moving and excess inventory. For the years ended December 31, 2021 and 2020, we recognized inventory write downs totaling $8.1 million and $100.8 million, respectively. These charges are all included in “ Cost of sales ” in the consolidated statements of comprehensive loss. See Note 5 Inventories
Property and equipment	Property and equipment Property and equipment are stated at cost less accumulated depreciation. Finance leases of property and equipment are stated at the present value of future minimum lease payments. Expenditures for property and equipment and for items which substantially increase the useful lives of existing assets are capitalized at cost and depreciated over their estimated useful life utilizing the straight-line method. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method based on the estimated useful lives of assets, generally 2 to 30 years. Property and equipment held under finance leases are amortized straight-line over the shorter of the lease term or estimated useful life of the asset. Gains or losses resulting from the disposition of assets are recognized in income with the related asset cost and accumulated depreciation removed from the balance sheet. Assets acquired in connection with business combinations are recorded at fair value. We review long-lived assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization. For the year ended December 31, 2021, we did not recognize any property and equipment impairment charges. For the year ended December 31, 2020, we recognized property and equipment impairment charges totaling $15.1 million which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges.
Lease Obligations	Lease Obligations 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 consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our 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 12 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. We review lease ROU assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined by means of an analysis of discounted future cash flows based on expected utilization. For the year ended December 31, 2021, we did not recognize any impairments of operating lease assets. For the year ended December 31, 2020, we recognized impairments of operating lease assets totaling $15.4 million which are included in “Cost of Sales” and “Selling, general and administrative expenses” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets for further information related to these charges.
Intangible assets	Intangible assets Intangible assets with definite lives are comprised of customer and distributor relationships, patents and technology, trade names, trademarks and non-compete agreements which are amortized on a straight-line basis over the life of the intangible asset, generally two For the year ended December 31, 2021, we did not recognize any impairments of intangible assets. For the year ended December 31, 2020, we recognized intangible asset impairment charges totaling $5.3 million which are included in “Impairments of intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 8 Impairments of Long-Lived Assets
Recognition of provisions for contingencies	Recognition of provisions for contingencies In the ordinary course of business, we are subject to various claims, suits and complaints. We, in consultation with internal and external legal advisors, will provide for a contingent loss in the consolidated financial statements if, at the date of the consolidated financial statements, it is probable that a liability has been incurred and the amount can be reasonably estimated. If it is determined that the reasonable estimate of the loss is a range and that there is no best estimate within that range, a provision will be made for the lower amount of the range. Legal costs are expensed as incurred.
Revenue recognition and deferred revenue	Revenue recognition and deferred revenue Revenue is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), 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. Contract Identification . We account for a contract when it is approved, both parties are committed, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collection of consideration is probable. Performance Obligations . A performance obligation is a promise in a contract to transfer a distinct good or service to the customer under ASC 606. The majority of our contracts with customers contain a single performance obligation to provide agreed-upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. In accordance with ASC 606, we do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We have elected to apply the practical expedient to account for shipping and handling costs associated with outbound freight after control of a product has transferred to a customer as a fulfillment cost which is included in Cost of Sales. Furthermore, since our customer payment terms are short-term in nature, we have also elected to apply the practical expedient which allows an entity to not adjust for the effects of a significant financing component if it expects that the customer’s payment period will be less than one year in duration. Contract Value . Revenue is measured based on the amount of consideration specified in the contracts with our customers and excludes any amounts collected on behalf of third parties. We have elected the practical expedient to exclude amounts collected from customers for all sales (and other similar) taxes. The estimation of total revenue from a customer contract is subject to elements of variable consideration. Certain customers may receive rebates or discounts which are accounted for as variable consideration. We estimate variable consideration as the most likely amount to which we expect to be entitled, and we include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue will not occur when the uncertainty associated with the variable consideration is resolved. Our estimate of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historic, current, forecast) that is reasonably available to us. Timing of Recognition . We recognize revenue when we satisfy a performance obligation by transferring control of a product or service to a customer. Our performance obligations are satisfied at a point in time or over time as work progresses. Revenue from goods transferred to customers at a point in time accounted for 91% of revenues for the year ended December 31, 2021. The majority of this revenue is product sales, which are generally recognized when items are shipped from our facilities and title passes to the customer. The amount of revenue recognized for products is adjusted for expected returns, which are estimated based on historical data. Revenue from goods transferred to customers over time accounted for 9% of revenues for the year ended December 31, 2021, which is related to certain contracts in our Subsea and Production Equipment product lines. Recognition over time for these contracts is supported by our assessment of the products supplied as having no alternative use to us and by clauses in the contracts that provide us with an enforceable right to payment for performance completed to date. We use the cost-to-cost method to measure progress for these contracts because it best depicts the transfer of assets to the customer which occurs as costs are incurred on the contract. The amount of revenue recognized is calculated based on the ratio of costs incurred to-date compared to total estimated costs which requires management to calculate reasonably dependable estimates of total contract costs. Whenever revisions of estimated contract costs and contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. We recognize revenue and cost of sales each period based upon the advancement of the work-in-progress unless the stage of completion is insufficient to enable a reasonably certain forecast of profit to be established. In such cases, no profit is recognized during the period. Accounting estimates during the course of projects may change, primarily related to our remotely operated vehicles (“ROVs”) which may take longer to manufacture. The effect of such a change, which can be upward as well as downward, is accounted for in the period of change, and the cumulative income recognized to date is adjusted to reflect the latest estimates. These revisions to estimates are accounted for on a prospective basis. Contracts are sometimes modified to account for changes in product specifications or requirements. Most of our contract modifications are for goods and services that are not distinct from the existing contract. As such, these modifications are accounted for as if they were part of the existing contract, and therefore, the effect of the modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue on a cumulative catch-up basis. No adjustment to any one contract was material to our consolidated financial statements for the years ended December 31, 2021 and 2020. We sell our products through a number of channels including a direct sales force, marketing representatives, and distributors. We have elected to expense sales commissions when incurred as the amortization period would be less than one year. These costs are recorded within cost of sales. Portfolio Approach . We have elected to apply ASC 606 to a portfolio of contracts with similar characteristics as we reasonably expect that the effects on the financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts within that portfolio. Disaggregated Revenue . Refer to Note 18 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, 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, we record a contract liability. Such contract liabilities typically result from billings in excess of costs incurred and advance payments received on product sales.
Concentration of credit risk	Concentration of credit risk Trade accounts receivable are financial instruments which potentially subject the Company to credit risk. Trade accounts receivable consist of uncollateralized receivables from domestic and international customers. For the years ended December 31, 2021 and 2020, no one customer accounted for 10% or more of the total revenue or 10% or more of the total accounts receivable balance at the end of the respective period.
Stock based compensation	Stock based compensation We measure all stock based compensation awards at fair value on the date they are granted to employees and directors, and recognize compensation cost over the requisite service period for awards with only a service condition, and over a graded vesting period for awards with service and performance or market conditions. The fair value of stock based compensation awards with market conditions is measured using a Monte Carlo Simulation model and, in accordance with Accounting Standards Codification Topic 718, is not adjusted based on actual achievement of the performance goals. The Black-Scholes option pricing model is used to measure the fair value of options. Forfeitures are accounted for as they occur.
Income taxes	Income taxes We follow the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based upon temporary differences between the carrying amounts and tax bases of our assets and liabilities at the balance sheet date, and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period in which the change occurs. We record a valuation allowance in each reporting period when management believes that it is more likely than not that any deferred tax asset created will not be realized. See Note 11 Income Taxes for more information on valuation allowances recognized. Accounting guidance for income taxes requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an
Non-U.S. local currency translation	Non-U.S. local currency translation We have global operations and the majority of our non-U.S. operations have designated the local currency as the functional currency. Realized and unrealized gains and losses resulting from re-measurements of monetary assets and liabilities denominated in a currency other than the local entity’s functional currency are included in the consolidated statements of comprehensive loss as incurred. Financial statements of our foreign operations where the functional currency is not the U.S. dollar are translated into U.S. dollars using the current rate method whereby assets and liabilities are translated at the balance sheet rate and income and expenses are translated at the average exchange rates in effect during the period. The resultant translation adjustments are reported as a component of accumulated other comprehensive loss within stockholders’ equity in our consolidated balance sheets.
Fair value	Fair value The carrying amounts for financial instruments classified as current assets and current liabilities approximate fair value, due to the short maturity of such instruments. The book values of other financial instruments, such as our debt related to the Credit Facility, approximates fair value because interest rates charged are similar to other financial instruments with similar terms and maturities and the rates vary in accordance with a market index. For financial assets and liabilities disclosed at fair value, fair value is determined as the exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The established fair value hierarchy divides fair value measurement into three broad levels: • Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; • Level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and • Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management.
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 2021 Income Tax. In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740) - Disclosure Framework - Simplifying the Accounting for Income Taxes, which simplified the accounting for income taxes by removing certain exceptions to the general principles of Topic 740 and clarifying and amending existing guidance. We adopted this new standard as of January 1, 2021. The adoption of this new standard did not have a material impact on our consolidated financial statements. Accounting Standards Issued But Not Yet Adopted Convertible Debt. In August 2020, the FASB issued ASU No. 2020-06 Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. This update reduces the number of accounting models for convertible debt instruments resulting in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful Accounts	The change in amounts of the allowance for doubtful accounts during the two year period ended December 31, 2021 is as follows (in thousands): Period ended Balance at beginning of period Charged to expense Deductions or other Balance at end of period December 31, 2020 9,048 1,127 (958) 9,217 December 31, 2021 9,217 2,424 (527) 11,114

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2021
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 year ended December 31, 2021: December 31, 2021 December 31, 2020 Increase $ % Accrued revenue $ 2,245 $ 1,687 Costs and estimated profits in excess of billings 8,285 8,516 Contract assets $ 10,530 $ 10,203 $ 327 3 % Deferred revenue $ 7,276 $ 7,863 Billings in excess of costs and profits recognized 9,705 1,817 Contract liabilities $ 16,981 $ 9,680 $ 7,301 75 %

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	The Company’s significant components of inventory at December 31, 2021 and 2020 were as follows (in thousands): December 31, December 31, Raw materials and parts $ 97,053 $ 151,531 Work in process 24,618 15,946 Finished goods 182,954 229,212 Gross inventories 304,625 396,689 Inventory reserve (62,885) (144,942) Inventories $ 241,740 $ 251,747
Schedule of Inventory Reserve	The change in the amounts of the inventory reserve during the two year period ended December 31, 2021 is as follows (in thousands): Period ended Balance at beginning of period Charged to expense Deductions or other Balance at end of period December 31, 2020 66,075 100,794 (21,927) $ 144,942 December 31, 2021 144,942 8,096 (90,153) $ 62,885

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment consists of the following (in thousands): Estimated useful lives December 31, 2021 2020 Land $ 7,502 $ 8,476 Buildings and leasehold improvements 5-30 85,810 93,645 Computer equipment 3-5 43,853 44,607 Machinery & equipment 5-10 124,254 148,019 Furniture & fixtures 3-10 5,961 6,275 Vehicles 3-5 2,944 3,835 Right of use assets - finance leases 2-6 3,530 3,823 Rental equipment 3-10 2,112 3,830 Construction in progress 1,960 968 277,926 313,478 Less: accumulated depreciation (183,921) (199,810) Total property and equipment, net $ 94,005 $ 113,668

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	At December 31, 2021 and 2020, intangible assets consisted of the following, respectively (in thousands): December 31, 2021 Gross carrying Accumulated Net intangibles Amortization Customer relationships $ 269,589 $ (133,451) $ 136,138 10 - 15 Patents and technology 89,449 (29,785) 59,664 5 - 19 Non-compete agreements 191 (173) 18 2 - 6 Trade names 43,125 (25,187) 17,938 7 - 19 Trademark 5,089 (1,442) 3,647 15 Intangible Assets Total $ 407,443 $ (190,038) $ 217,405 December 31, 2020 Gross carrying Accumulated Net intangibles Amortization Customer relationships $ 272,470 $ (121,294) $ 151,176 10 - 15 Patents and technology 89,626 (24,440) 65,186 5 - 19 Non-compete agreements 190 (137) 53 2 - 6 Trade names 42,984 (22,941) 20,043 7 - 19 Trademark 5,089 (1,103) 3,986 15 Intangible Assets Total $ 410,359 $ (169,915) $ 240,444
Schedule of Future Amortization Expense	The estimated future amortization expense for the next five years is as follows (in thousands): Year ending December 31, Amount 2022 $ 25,161 2023 24,200 2024 22,881 2025 21,694 2026 20,837

Impairments of Long-Lived Ass_2

Impairments of Long-Lived Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Impairment of Long-Lived Assets	Following is a summary of impairment charges recognized in our segments during the year ended December 31, 2020 (in thousands): Impairments of: Drilling & Downhole Completions Production Corporate Total Impairments Property and equipment (1) 1,069 9,608 4,460 — 15,137 Intangible assets (1) 5,257 — — — 5,257 Operating lease right of use assets (2) 5,366 6,140 2,366 1,498 15,370 Total impairments $ 11,692 $ 15,748 $ 6,826 $ 1,498 $ 35,764 (1) These charges are included in Impairments of intangible assets, property and equipment in the condensed consolidated statements of comprehensive loss. (2) $10.8 million of these charges are included in Cost of sales, while $4.5 million are included in Selling, general and administrative expenses

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Notes payable and lines of credit as of December 31, 2021 and 2020 consisted of the following (in thousands): December 31, December 31, 2025 Notes 256,970 316,863 Unamortized debt discount (20,035) (30,248) Debt issuance cost (4,918) (7,318) Credit Facility — 13,126 Other debt 1,213 2,272 Total debt 233,230 294,695 Less: current maturities (860) (1,322) Long-term debt $ 232,370 $ 293,373
Schedule of Maturities of Long-term Debt	Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands): 2022 $ 860 2023 317 2024 97 2025 256,975 2026 — Thereafter — Total future payment $ 258,249 Add: Unamortized debt discount (20,035) Less: Debt issuance cost (4,918) Less: present value discount on finance leases $ (66) Total debt $ 233,230

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Lease Assets and Liabilities	The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands): As of Classification December 31, 2021 December 31, 2020 Assets Operating lease assets Operating lease assets $ 25,431 $ 31,520 Finance lease assets Property and equipment, net of accumulated depreciation 1,727 2,464 Total lease assets $ 27,158 $ 33,984 Liabilities Current Operating Accrued liabilities $ 10,956 $ 11,974 Finance Current portion of long-term debt 860 1,322 Noncurrent Operating Operating lease liabilities $ 34,745 44,536 Finance Long-term debt, net of current portion 353 $ 950 Total lease liabilities $ 46,914 $ 58,782
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 twelve months ended December 31, 2021 (in thousands): Twelve Months Ended Lease Cost Classification 2021 2020 Operating lease cost Cost of sales and Selling, general and administrative expenses $ 11,123 $ 8,439 Finance lease cost Amortization of leased assets Selling, general and administrative expenses 1,061 932 Interest on lease liabilities Interest expense 110 155 Sublease income Cost of sales and Selling, general and administrative expenses (2,184) (2,001) Net lease cost $ 10,110 $ 7,525
Schedule of Operating Lease Liability Maturity	The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2022 $ 13,199 $ 860 $ 14,059 2023 8,631 316 8,947 2024 7,053 97 7,150 2025 6,105 6 6,111 2026 5,053 — 5,053 Thereafter 15,862 — 15,862 Total lease payments 55,903 1,279 57,182 Less: present value discount (10,202) (66) (10,268) Present value of lease liabilities $ 45,701 $ 1,213 $ 46,914
Schedule of Finance Lease Liability Maturity	The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands): Operating Leases Finance Leases Total 2022 $ 13,199 $ 860 $ 14,059 2023 8,631 316 8,947 2024 7,053 97 7,150 2025 6,105 6 6,111 2026 5,053 — 5,053 Thereafter 15,862 — 15,862 Total lease payments 55,903 1,279 57,182 Less: present value discount (10,202) (66) (10,268) Present value of lease liabilities $ 45,701 $ 1,213 $ 46,914
Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates	The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2021: Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term (years) Operating leases 6.4 years 6.6 years Financing leases 1.5 years 1.8 years Weighted-average discount rate Operating leases 6.58 % 6.58 % Financing leases 6.58 % 6.58 %
Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates	The following table summarizes the supplemental cash flow information related to leases as of December 31, 2021: Twelve Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 13,053 $ 11,038 Operating cash flows from finance leases 92 80 Financing cash flows from finance leases $ 1,517 $ 1,179

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The components of loss before income taxes for the years ended December 31, 2021 and 2020 are as follows (in thousands): 2021 2020 U.S. $ (98,445) $ (106,785) Non-U.S. 16,436 (2,985) Loss before income taxes $ (82,009) $ (109,770)
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) for the years ended December 31, 2021 and 2020 are as follows (in thousands): 2021 2020 Current U.S. federal and state $ 1,235 $ (17,219) Non-U.S. (3,384) 4,487 Total current (2,149) (12,732) Deferred U.S. federal and state (169) 723 Non-U.S. 2,960 (872) Total deferred 2,791 (149) Income tax expense (benefit) $ 642 $ (12,881)
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation between the actual provision for income taxes and that computed by applying the U.S. statutory rate to loss before income taxes are outlined below (in thousands): 2021 2020 Income tax benefit at the statutory rate $ (17,222) (21.0) % $ (23,052) (21.0) % State taxes, net of federal tax benefit 22 — % (4,190) (3.8) % Non-U.S. operations (7,594) (9.3) % 625 0.6 % Domestic incentives (264) (0.3) % (264) (0.2) % Prior year federal, non-U.S. and state tax (7,183) (8.8) % (1,827) (1.7) % Nondeductible expenses 1,624 2.0 % 2,053 1.9 % U.S. CAREs Act 113 0.1 % (15,981) (14.6) % Valuation allowance 31,079 37.9 % 25,349 23.1 % Other 67 0.2 % 4,406 4.0 % Income tax benefit $ 642 0.8 % $ (12,881) (11.7) %
Schedule of Deferred Tax Assets and Liabilities	The primary components of deferred taxes include (in thousands): 2021 2020 Deferred tax assets Reserves and accruals $ 3,978 $ 14,917 Operating lease liabilities 11,176 3,097 Inventory 14,692 37,784 Stock awards 2,340 2,180 Net operating loss and other tax carryforwards 109,402 53,781 Goodwill and intangible assets 32,513 39,381 Fair value discount on 2025 Notes 22,250 30,564 Property and equipment 6,424 — Other 1,912 931 Gross deferred tax assets 204,687 182,635 Valuation allowance (198,366) (167,287) Total deferred tax assets 6,321 15,348 Deferred tax liabilities Property and equipment — (6,861) Operating lease assets (6,490) (6,818) Prepaid expenses and other (462) (3,519) Total deferred tax liabilities (6,952) (17,198) Net deferred tax liabilities $ (631) $ (1,850)
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands): Balance at January 1, 2021 $ 12,382 Additional based on tax positions related to prior years 367 Additional based on tax positions related to current year 1,712 Reduction based on tax positions related to prior years — Settlement with tax authorities — Lapse of statute of limitations (6,103) Balance at December 31, 2021 8,358

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts): Year ended December 31, 2021 2020 Net loss attributable to common stockholders $ (82,651) $ (96,889) Basic - weighted average shares outstanding 5,643 5,577 Dilutive effect of stock options and restricted stock — — Dilutive effect of convertible 2025 Notes — — Diluted - weighted average shares outstanding 5,643 5,577 Loss per share Basic $ (14.65) $ (17.37) Diluted $ (14.65) $ (17.37)

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table provides additional information related to stock options: 2021 Activity Number of shares Weighted average exercise price Remaining weighted average contractual life in years Intrinsic value Beginning balance 95 $ 358.31 3.5 $ — Forfeited/expired (20) $ 362.07 Total outstanding 75 $ 357.34 3.2 $ — Options exercisable 75 $ 358.46 3.2 $ —
Schedule of Nonvested Restricted Stock Shares Activity	Restricted stock generally vests over a period of one 2021 Activity Restricted stock (shares in thousands) Nonvested at beginning of year — Granted 10 Vested — Nonvested at the end of year 10 2021 Activity Restricted stock units (shares in thousands) Nonvested at beginning of year 331 Granted 140 Vested (113) Forfeited (2) Nonvested at the end of year 356
Schedule of Stock Appreciation Rights	The following table provides additional information related to our stock appreciation rights: 2021 Activity Stock Appreciation Rights (in thousands) Nonvested at beginning of year 248 Granted — Forfeited (11) Nonvested at the end of year 237

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summary financial data by segment follows (in thousands): Year ended December 31, 2021 2020 Revenue: Drilling & Downhole $ 239,895 $ 216,836 Completions 185,018 118,685 Production 116,710 177,510 Eliminations (555) (555) Total revenue $ 541,068 $ 512,476 Segment operating income (loss): Drilling & Downhole $ 4,749 $ (47,964) Completions (4,532) (97,304) Production (14,354) (33,418) Corporate (31,408) (30,012) Total segment operating loss (45,545) (208,698) Impairments of intangible assets, property and equipment — 20,394 Loss (gain) on disposal of assets and other (1,052) 2,531 Operating loss $ (44,493) $ (231,623) Depreciation and amortization Drilling & Downhole $ 14,536 $ 17,895 Completions 22,568 24,831 Production 4,769 7,755 Corporate 303 519 Total depreciation and amortization $ 42,176 $ 51,000 A summary of capital expenditures by reportable segment is as follows (in thousands): Year ended December 31, Capital expenditures 2021 2020 Drilling & Downhole $ 1,476 $ 462 Completions 512 275 Production 411 287 Corporate — 1,222 Total capital expenditures $ 2,399 $ 2,246 A summary of consolidated assets by reportable segment is as follows (in thousands): Year ended December 31, Assets 2021 2020 Drilling & Downhole $ 313,493 $ 314,375 Completions 351,908 356,645 Production 83,150 92,949 Corporate 42,785 125,957 Total assets $ 791,336 $ 889,926
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	A summary of long-lived assets by country is as follows (in thousands): Year ended December 31, Long-lived assets: 2021 2020 United States $ 298,171 $ 332,554 Europe 25,956 42,424 Canada 14,977 17,796 Asia-Pacific 221 836 Middle East 4,412 4,877 Latin America 866 1,248 Total long-lived assets $ 344,603 $ 399,735 The following table presents our revenues disaggregated by geography based on shipping destination (in thousands): Year ended December 31, 2021 2020 Revenue: $ % $ % United States $ 324,376 60.0 % $ 323,322 63.2 % Canada 41,822 7.7 % 30,492 5.9 % Europe & Africa 59,207 10.9 % 37,438 7.3 % Middle East 48,352 8.9 % 43,192 8.4 % Asia-Pacific 36,641 6.8 % 48,067 9.4 % Latin America 30,670 5.7 % 29,965 5.8 % Total Revenue $ 541,068 100.0 % $ 512,476 100.0 %
Revenue from External Customers by Products and Services	The following table presents our revenues disaggregated by product line (in thousands): Year ended December 31, 2021 2020 Revenue: $ % $ % Drilling Technologies $ 96,680 17.8 % $ 97,232 19.1 % Downhole Technologies 69,215 12.8 % 64,083 12.5 % Subsea Technologies 74,000 13.7 % 55,521 10.8 % Stimulation and Intervention 96,731 17.9 % 56,460 11.0 % Coiled Tubing 88,287 16.3 % 62,225 12.1 % Production Equipment 60,981 11.3 % 65,763 12.8 % Valve Solutions 55,729 10.3 % 111,747 21.8 % Eliminations (555) (0.1) % (555) (0.1) % Total revenue $ 541,068 100.0 % $ 512,476 100.0 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Allowance for doubtful accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 9,217	$ 9,048
Charged to expense	2,424	1,127
Deductions or other	(527)	(958)
Balance at end of period	$ 11,114	$ 9,217

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Inventory write downs	$ 8,096,000	$ 100,794,000
Asset impairment charges	0	15,100,000
Impairments of operating lease assets	0	15,370,000
Impairment of intangible assets	$ 0	$ 5,300,000
Percent of revenue from goods and services transferred at point in time	91.00%
Percent of revenue from goods and services transferred over time	9.00%
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	2 years
Remaining lease term	1 year
Estimated useful life, intangible assets	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	30 years
Remaining lease term	12 years
Estimated useful life, intangible assets	22 years

Revenues (Schedule of Changes i

Revenues (Schedule of Changes in Contract Asset and Contract Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contract with Customer, Asset, after Allowance for Credit Loss [Abstract]
Accrued revenue	$ 2,245	$ 1,687
Costs and estimated profits in excess of billings	8,285	8,516
Contract assets	10,530	10,203
Increase in contract with customer assets	$ 327
Increase in contract with customer assets, percent	3.00%
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 7,276	7,863
Billings in excess of costs and profits recognized	9,705	1,817
Contract liabilities	16,981	$ 9,680
Increase in contract with customer liabilities	$ 7,301
Increase in contract with customer liabilities, percent	75.00%

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Increase in contract with customer assets	$ 327
Increase in contract with customer liabilities	7,301
Revenue recognized	$ 8,200

Acquisitions & Dispositions (Na

Acquisitions & Dispositions (Narrative) (Details) - USD ($) $ in Thousands	Dec. 20, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Payments to acquire productive assets			$ 2,399	$ 2,246
Gain on contribution of subsea rentals business			0	88,375
Assets		$ 791,336	$ 791,336	889,926
Hawker Equipment Solutions, LLC
Business Acquisition [Line Items]
Cash consideration	$ 5,100
Payments to acquire productive assets		$ 3,400
Term of expected payment	5 years
ABZ and Quadrant Valves | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Consideration for disposal group				104,600
Assets				15,000
Accrued liabilities				$ 1,200

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and parts	$ 97,053	$ 151,531
Work in process	24,618	15,946
Finished goods	182,954	229,212
Gross inventories	304,625	396,689
Inventory reserve	(62,885)	(144,942)	$ (66,075)
Inventories	$ 241,740	$ 251,747

Inventories (Inventory reserve)

Inventories (Inventory reserve) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventory Valuation Reserves Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 144,942	$ 66,075
Charged to expense	8,096	100,794
Deductions or other	(90,153)	(21,927)
Balance at end of period	$ 62,885	$ 144,942

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory write downs	$ 8,096	$ 100,794

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Net [Abstract]
Right of use assets - finance leases	$ 3,530,000	$ 3,823,000
Property, plant and equipment, gross	277,926,000	313,478,000
Less: accumulated depreciation	(183,921,000)	(199,810,000)
Property and equipment, net of accumulated depreciation	94,005,000	113,668,000
Depreciation expense	17,064,000	24,484,000
Asset impairment charges	$ 0	15,100,000
Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	2 years
Estimated useful life, finance leases	2 years
Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Estimated useful life, finance leases	6 years
Land
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 7,502,000	8,476,000
Buildings and leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 85,810,000	93,645,000
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Computer equipment
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 43,853,000	44,607,000
Computer equipment | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Computer equipment | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 124,254,000	148,019,000
Machinery & equipment | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Furniture & fixtures
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 5,961,000	6,275,000
Furniture & fixtures | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Furniture & fixtures | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Vehicles
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 2,944,000	3,835,000
Vehicles | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Vehicles | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Rental equipment
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 2,112,000	3,830,000
Rental equipment | Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Rental equipment | Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 1,960,000	$ 968,000

Intangible Assets (Finite-Lived

Intangible Assets (Finite-Lived and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (190,038)	$ (169,915)
Intangible Assets Total, Gross carrying amount	407,443	410,359
Intangible Assets Total, Net amortizable intangibles	217,405	240,444
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	269,589	272,470
Accumulated amortization	(133,451)	(121,294)
Net intangibles	136,138	151,176
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	89,449	89,626
Accumulated amortization	(29,785)	(24,440)
Net intangibles	59,664	65,186
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	191	190
Accumulated amortization	(173)	(137)
Net intangibles	18	53
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	43,125	42,984
Accumulated amortization	(25,187)	(22,941)
Net intangibles	17,938	20,043
Trademark
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,089	5,089
Accumulated amortization	(1,442)	(1,103)
Net intangibles	$ 3,647	$ 3,986
Estimated useful life, intangible assets	15 years	15 years
Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	2 years
Minimum | Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	10 years	10 years
Minimum | Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	5 years	5 years
Minimum | Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	2 years	2 years
Minimum | Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	7 years	7 years
Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	22 years
Maximum | Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years
Maximum | Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	19 years	19 years
Maximum | Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	6 years	6 years
Maximum | Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	19 years	19 years

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0	$ 5,300,000
Amortization of intangible assets	$ 25,112,000	$ 26,516,000

Intangible Assets (Schedule of

Intangible Assets (Schedule of Amortization Expense) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Estimated future amortization expense
2022	$ 25,161
2023	24,200
2024	22,881
2025	21,694
2026	$ 20,837

Impairments of Long-Lived Ass_3

Impairments of Long-Lived Assets - Schedule of Impairment of Long-Lived Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	$ 0	$ 15,100,000
Impairments of operating lease assets	$ 0	15,370,000
Property and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		15,137,000
Intangible assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		5,257,000
Operating lease right of use assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		15,370,000
Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		35,764,000
Corporate
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		1,498,000
Corporate | Property and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		0
Corporate | Intangible assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		0
Corporate | Operating lease right of use assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		1,498,000
Drilling & Downhole | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		11,692,000
Drilling & Downhole | Operating Segments | Property and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		1,069,000
Drilling & Downhole | Operating Segments | Intangible assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		5,257,000
Drilling & Downhole | Operating Segments | Operating lease right of use assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		5,366,000
Completions | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		15,748,000
Completions | Operating Segments | Property and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		9,608,000
Completions | Operating Segments | Intangible assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		0
Completions | Operating Segments | Operating lease right of use assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		6,140,000
Production | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		6,826,000
Production | Operating Segments | Property and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		4,460,000
Production | Operating Segments | Intangible assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		0
Production | Operating Segments | Operating lease right of use assets
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		2,366,000
Cost of Sales
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of operating lease assets		10,800,000
Selling, General and Administrative Expenses
Impaired Long-Lived Assets Held and Used [Line Items]
Impairments of operating lease assets		$ 4,500,000

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 30, 2021	Dec. 31, 2020	Aug. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross	$ 233,230		$ 294,695
Unamortized debt discount	(20,035)		(30,248)
Less: Debt issuance cost	(4,918)		(7,318)
Less: current maturities	(860)		(1,322)
Long-term debt	232,370		293,373
2025 Notes
Debt Instrument [Line Items]
Long-term debt, gross	256,970	$ 53,300	316,863	$ 282,600
Long-term debt				$ 314,800
Other debt
Debt Instrument [Line Items]
Long-term debt, gross	1,213		2,272
2017 Credit Facility | Senior secured revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 0		$ 13,126

Debt - Narrative (Details)

Debt - Narrative (Details)	1 Months Ended		3 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)	Aug. 31, 2020USD ($)d$ / shares	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 30, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt, gross				$ 233,230,000	$ 294,695,000
Gain (loss) on extinguishment of debt				(5,290,000)	72,478,000
Long-term debt				232,370,000	293,373,000
Bond exchange early participation payment		$ 3,500,000		0	3,500,000
Debt instrument, carrying value				233,230,000
2025 Notes
Debt Instrument [Line Items]
Debt, face amount		$ 315,500,000		116,000,000
Debt instrument, stated interest rate		9.00%
Long-term debt, gross		$ 282,600,000		256,970,000	316,863,000	$ 53,300,000
Unamortized debt premium (discount)		(32,900,000)
Gain (loss) on extinguishment of debt		28,700,000		(5,300,000)
Long-term debt		$ 314,800,000
Debt conversion, percent payable in cash		6.25%
Debt conversion, percent payable in cash or additional notes		2.75%
Debt conversion ratio		0.037037
Conversion price (in usd per share) | $ / shares		$ 27
Threshold trading days | d		20
Trading period conversion price (in dollars per share) | $ / shares		$ 30
Debt repurchased face amount				59,900,000
Repayments of long-term debt				58,600,000
Senior unsecured notes due October 2021
Debt Instrument [Line Items]
Debt conversion, interest rate of debt		6.25%
Deferred loan costs written off			$ 2,000,000
Credit Facility
Debt Instrument [Line Items]
Debt instrument, carrying value				$ 0	13,100,000
Percentage of borrowing base				50.00%
Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 179,000,000
Deferred loan costs	1,600,000
Credit Facility | Foreign Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	45,000,000
Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	20,000,000
Credit Facility | Letter of Credit | Canadian Subsidiaries
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 3,000,000
80% of Borrowing Base | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity				$ 127,500,000
Current borrowing capacity quarterly reduction				$ 500,000
Borrowing base percentage				80.00%
2017 Credit Facility
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage				0.375%
2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage				0.50%
2017 Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross				$ 0	$ 13,126,000
Current borrowing capacity				146,100,000
Debt instrument, carrying value				0
2017 Credit Facility | Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Outstanding letters of credit				18,700,000
Remaining borrowing capacity				127,400,000
12.5% of Borrowing Base | Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 22,400,000
Percentage of borrowing base				12.50%
Interest Rate Floor | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				0.00%
LIBOR | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Federal Funds Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
CDOR Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Minimum | Credit Facility
Debt Instrument [Line Items]
Springing fixed charge coverage ratio				1
Fixed charge coverage ratio consecutive days threshold				60 days
Minimum | LIBOR | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.25%
Minimum | Base Rate | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.25%
Minimum | Base Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage				1.25%
Minimum | CDOR Rate | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.25%
Maximum | LIBOR | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.75%
Maximum | Base Rate | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
Maximum | Base Rate | 2017 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
Maximum | CDOR Rate | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.75%

Debt (Schedule of Future Paymen

Debt (Schedule of Future Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 860
2023	317
2024	97
2025	256,975
2026	0
Thereafter	0
Total future payment	258,249
Add: Unamortized debt discount	(20,035)	$ (30,248)
Less: Debt issuance cost	(4,918)	$ (7,318)
Less: present value discount on finance leases	(66)
Debt instrument, carrying value	$ 233,230

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Operating lease assets	$ 25,431	$ 31,520
Finance lease assets	1,727	2,464
Total lease assets	27,158	33,984
Current
Operating	10,956	11,974
Finance	860	1,322
Noncurrent
Operating	34,745	44,536
Finance	353	950
Total lease liabilities	$ 46,914	$ 58,782
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net of accumulated depreciation	Property and equipment, net of accumulated depreciation
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt	Current portion of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, net of current portion	Long-term debt, net of current portion

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 11,123	$ 8,439
Finance lease cost
Amortization of leased assets	1,061	932
Interest on lease liabilities	110	155
Sublease income	(2,184)	(2,001)
Net lease cost	$ 10,110	$ 7,525

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 13,199
2023	8,631
2024	7,053
2025	6,105
2026	5,053
Thereafter	15,862
Total lease payments	55,903
Less: present value discount	(10,202)
Present value of lease liabilities	45,701
Finance Leases
2022	860
2023	316
2024	97
2025	6
2026	0
Thereafter	0
Total lease payments	1,279
Less: present value discount on finance leases	(66)
Present value of lease liabilities	1,213
Total
2022	14,059
2023	8,947
2024	7,150
2025	6,111
2026	5,053
Thereafter	15,862
Total lease payments	57,182
Less: present value discount	(10,268)
Present value of lease liabilities	$ 46,914	$ 58,782

Leases - Schedule of Remaining

Leases - Schedule of Remaining Lease Term and Discount Rates (Details)	Dec. 31, 2021	Dec. 31, 2020
Weighted-average remaining lease term (years)
Operating leases	6 years 4 months 24 days	6 years 7 months 6 days
Financing leases	1 year 6 months	1 year 9 months 18 days
Weighted-average discount rate
Operating leases	6.58%	6.58%
Financing leases	6.58%	6.58%

Leases - Schedule of Lease Cash

Leases - Schedule of Lease Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 13,053	$ 11,038
Operating cash flows from finance leases	92	80
Financing cash flows from finance leases	$ 1,517	$ 1,179

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S.	$ (98,445)	$ (106,785)
Non-U.S.	16,436	(2,985)
Loss before income taxes	$ (82,009)	$ (109,770)

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current
U.S. federal and state	$ 1,235	$ (17,219)
Non-U.S.	(3,384)	4,487
Total current	(2,149)	(12,732)
Deferred
U.S. federal and state	(169)	723
Non-U.S.	2,960	(872)
Total deferred	2,791	(149)
Income tax expense (benefit)	$ 642	$ (12,881)

Income Taxes (Income Tax Rate R

Income Taxes (Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income tax benefit at the statutory rate	$ (17,222)	$ (23,052)
State taxes, net of federal tax benefit	22	(4,190)
Non-U.S. operations	(7,594)	625
Domestic incentives	(264)	(264)
Prior year federal, non-U.S. and state tax	(7,183)	(1,827)
Nondeductible expenses	1,624	2,053
U.S. CAREs Act	113	(15,981)
Valuation allowance	31,079	25,349
Other	67	4,406
Income tax expense (benefit)	$ 642	$ (12,881)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax benefit at the statutory rate	(21.00%)	(21.00%)
State taxes, net of federal tax benefit	0.00%	(3.80%)
Non-U.S. operations	(9.30%)	0.60%
Domestic incentives	(0.30%)	(0.20%)
Prior year federal, non-U.S. and state tax	(8.80%)	(1.70%)
Nondeductible expenses	2.00%	1.90%
U.S. CAREs Act	0.10%	(14.60%)
Valuation allowance	37.90%	23.10%
Other	0.20%	4.00%
Income tax benefit	0.80%	(11.70%)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss and Tax Credit Carryforwards [Line Items]
Effective income tax rate	(0.80%)	11.70%
Income tax expense (benefit)	$ 642	$ (12,881)
Valuation allowance	31,079	25,349
Domestic operating loss carryforwards	243,600
State operating loss carryforwards	10,100
Operating loss carryforward subject to expiration	14,900
Operating loss carryforwards not subject to expiration	238,800
Foreign operating loss carryforwards	186,900
Unrecognized tax benefits	8,358	12,382
Decrease in unrecognized tax benefits is reasonably possible	1,600
Unrecognized tax benefits that would impact effective tax rate	8,400
Accrued interest and penalties	$ 500	1,400
U.S. Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”)
Operating Loss and Tax Credit Carryforwards [Line Items]
Income tax expense (benefit)		(16,000)
U.S.
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance		15,600
Non-US
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance		$ 15,500

Income Taxes (Deferred Taxes) (

Income Taxes (Deferred Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Reserves and accruals	$ 3,978	$ 14,917
Operating lease liabilities	11,176	3,097
Inventory	14,692	37,784
Stock awards	2,340	2,180
Net operating loss and other tax carryforwards	109,402	53,781
Goodwill and intangible assets	32,513	39,381
Fair value discount on 2025 Notes	22,250	30,564
Property and equipment	6,424	0
Other	1,912	931
Gross deferred tax assets	204,687	182,635
Valuation allowance	(198,366)	(167,287)
Total deferred tax assets	6,321	15,348
Deferred tax liabilities
Property and equipment	0	(6,861)
Operating lease assets	(6,490)	(6,818)
Prepaid expenses and other	(462)	(3,519)
Total deferred tax liabilities	(6,952)	(17,198)
Net deferred tax liabilities	$ (631)	$ (1,850)

Income Taxes (Uncertain Tax Pos

Income Taxes (Uncertain Tax Positions) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 12,382
Additional based on tax positions related to prior years	367
Additional based on tax positions related to current year	1,712
Reduction based on tax positions related to prior years	0
Settlement with tax authorities	0
Lapse of statute of limitations	(6,103)
Ending Balance	$ 8,358

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 233,230,000
Senior secured revolving credit facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	0	$ 13,100,000
Senior unsecured notes due October 2021 | Significant other observable inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	232,000,000	279,300,000
Debt instrument, fair value	$ 225,000,000	$ 200,300,000

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended		12 Months Ended					24 Months Ended	132 Months Ended
	Oct. 31, 2017patent	Jan. 31, 2011primaryInsurer	Dec. 31, 2021USD ($)casedefendant	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2021USD ($)case	Dec. 31, 2021USD ($)case
Loss Contingencies [Line Items]
Amount of letters of credit			$ 18,700,000					$ 18,700,000	$ 18,700,000
Asbestos Litigation
Loss Contingencies [Line Items]
Number of defendants | defendant			40
Tenaris Litigation
Loss Contingencies [Line Items]
Loss contingency, patents allegedly infringed, number | patent	3
Asbestos Litigation
Loss Contingencies [Line Items]
Annual out-of-pocket costs (less than)			$ 200,000	$ 200,000	$ 200,000	$ 200,000	$ 200,000
New claims filed each year (fewer than) | case			25
Pending lawsuits (fewer than) | case			150					150	150
Face amount of insurance coverage per occurrence (over)			$ 17,000,000					$ 17,000,000	$ 17,000,000
Aggregate primary insurance coverage (over)			23,000,000					23,000,000	23,000,000
Face amount of excess coverage (over)			$ 950,000,000					950,000,000	950,000,000
Number of primary insurers under settlement agreement | primaryInsurer		7
Percentage of costs of handling and settling each claim covered by insurance		80.00%
Insurers
Loss Contingencies [Line Items]
Payments for legal settlements								$ 40,000	$ 2,000,000

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net loss attributable to common stockholders	$ (82,651)	$ (96,889)
Basic - weighted average shares outstanding (in shares)	5,643	5,577
Dilutive effect of stock options and restricted stock (in shares)	0	0
Dilutive effect of convertible 2025 Notes (in shares)	0	0
Diluted - weighted average shares outstanding (in shares)	5,643	5,577
Loss per share
Basic (in dollars per share)	$ (14.65)	$ (17.37)
Diluted (in dollars per share)	$ (14.65)	$ (17.37)

Stockholders' Equity and Empl_2

Stockholders' Equity and Employee Benefit Plans (Employee Benefit Plans) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Employee contribution benefit plan expense	$ 0	$ 2,300,000

Stockholders' Equity and Empl_3

Stockholders' Equity and Employee Benefit Plans (Reverse Stock Split) (Details)	Nov. 09, 2020$ / sharesshares	Dec. 31, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares	Nov. 08, 2020shares
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Stock split, conversion ratio	0.05
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares) | shares	14,800,000	14,800,000	14,800,000	296,000,000

Long-Term Incentive Compensat_3

Long-Term Incentive Compensation (Narrative) (Details)	1 Months Ended		12 Months Ended
	May 31, 2020shares	May 31, 2019shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	May 17, 2016shares	Aug. 31, 2010shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						925,000
Stock based compensation expense | $			$ 7,600,000	$ 9,800,000
Total compensation cost not yet recognized | $			$ 11,400,000
Total compensation cost not yet recognized, period for recognition			2 years
Intrinsic value of options exercised | $			$ 0	0
Intrinsic value, options outstanding | $			$ 0	$ 0
Number of shares, granted (in shares)			0	0
Maximum payout rate			5
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option term			10 years
Award vesting period			4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share) | $ / shares			$ 23.36
Fair value of shares vested | $				$ 1,500,000
Vested in period (in shares)			0
Granted (in shares)			10,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share) | $ / shares			$ 18.20	$ 12.83
Fair value of shares vested | $			$ 5,300,000	$ 10,300,000
Vested in period (in shares)			113,000
Granted (in shares)			140,000
Restricted Stock Units (RSUs) | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (in shares)			73,839,000
Restricted Stock Units (RSUs) | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (in shares)			66,524,000
Vested in period, market price per share | $ / shares			$ 23.49
Trading days			20 days
Cash-Settled Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Granted (in shares)			66,524
Maximum payout rate			5
Cash-Settled Contingent Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Vested in period, market price per share | $ / shares			$ 23.49
Trading days			20 days
Granted (in shares)			73,839
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading days			20 days
Granted (in shares)			0
Fair value of the stock appreciation rights (in dollars per share) | $ / shares			$ 3.86
Stock option exercise price higher (in dollars per share) | $ / shares			100
Right exercise price (in dollars per share) | $ / shares			$ 29
Minimum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Minimum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Maximum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Maximum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
2016 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)					285,000
Number of share additional (in shares)	60,000	145,000
Number of shares available for grant (in shares)			105,000

Long-Term Incentive Compensat_4

Long-Term Incentive Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of shares [Roll Forward]
Number of shares, beginning balance (in shares)	95
Number of shares, forfeited/expired (in shares)	(20)
Number of shares, ending balance (in shares)	75	95
Number of shares, options exercisable (in shares)	75
Weighted average exercise price [Roll Forward]
Weighted average exercise price, beginning balance (in dollars per share)	$ 358.31
Weighted average exercise price, forfeited/expired (in dollars per share)	362.07
Weighted average exercise price, ending balance (in dollars per share)	357.34	$ 358.31
Weighted average exercise price, options exercisable (in dollars per share)	$ 358.46
Remaining weighted average contractual life, outstanding	3 years 2 months 12 days	3 years 6 months
Remaining weighted average contractual life, exercisable	3 years 2 months 12 days
Intrinsic value, options outstanding	$ 0	$ 0
Intrinsic value, options exercisable	$ 0	$ 0

Long-Term Incentive Compensat_5

Long-Term Incentive Compensation (Restricted Stock and Restricted Stock Units) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2021shares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	0
Granted (in shares)	10
Vested (in shares)	0
Nonvested at the end of year (in shares)	10
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	331
Granted (in shares)	140
Vested (in shares)	(113)
Forfeited (in shares)	(2)
Nonvested at the end of year (in shares)	356

Long-Term Incentive Compensat_6

Long-Term Incentive Compensation (Stock Appreciation Rights) (Details) - Stock Appreciation Rights shares in Thousands	12 Months Ended
	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	248
Granted (in shares)	0
Forfeited (in shares)	(11)
Nonvested at the end of year (in shares)	237

Business Segments (Narrative) (

Business Segments (Narrative) (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	3

Business Segments (Income State

Business Segments (Income Statement by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 541,068	$ 512,476
Operating income (loss)	(44,493)	(231,623)
Impairments of intangible assets, property and equipment	0	20,394
Loss (gain) on disposal of assets and other	(1,052)	2,531
Depreciation and amortization	42,176	51,000
Capital expenditures	2,399	2,246
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	(45,545)	(208,698)
Operating Segments | Drilling & Downhole
Segment Reporting Information [Line Items]
Revenues	239,895	216,836
Operating income (loss)	4,749	(47,964)
Depreciation and amortization	14,536	17,895
Capital expenditures	1,476	462
Operating Segments | Completions
Segment Reporting Information [Line Items]
Revenues	185,018	118,685
Operating income (loss)	(4,532)	(97,304)
Depreciation and amortization	22,568	24,831
Capital expenditures	512	275
Operating Segments | Production
Segment Reporting Information [Line Items]
Revenues	116,710	177,510
Operating income (loss)	(14,354)	(33,418)
Depreciation and amortization	4,769	7,755
Capital expenditures	411	287
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(555)	(555)
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(31,408)	(30,012)
Depreciation and amortization	303	519
Capital expenditures	$ 0	$ 1,222

Business Segments (Assets by Se

Business Segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Assets	$ 791,336	$ 889,926
Operating Segments | Drilling & Downhole
Segment Reporting Information [Line Items]
Assets	313,493	314,375
Operating Segments | Completions
Segment Reporting Information [Line Items]
Assets	351,908	356,645
Operating Segments | Production
Segment Reporting Information [Line Items]
Assets	83,150	92,949
Corporate
Segment Reporting Information [Line Items]
Assets	$ 42,785	$ 125,957

Business Segments (Long-lived A

Business Segments (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 344,603	$ 399,735
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	298,171	332,554
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	25,956	42,424
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	14,977	17,796
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	221	836
Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	4,412	4,877
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 866	$ 1,248

Business Segments (Revenue by S

Business Segments (Revenue by Shipping Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 541,068	$ 512,476
Percentage of net sales	100.00%	100.00%
Sales | United States | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 324,376	$ 323,322
Percentage of net sales	60.00%	63.20%
Sales | Canada | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 41,822	$ 30,492
Percentage of net sales	7.70%	5.90%
Sales | Europe & Africa | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 59,207	$ 37,438
Percentage of net sales	10.90%	7.30%
Sales | Middle East | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 48,352	$ 43,192
Percentage of net sales	8.90%	8.40%
Sales | Asia-Pacific | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 36,641	$ 48,067
Percentage of net sales	6.80%	9.40%
Sales | Latin America | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 30,670	$ 29,965
Percentage of net sales	5.70%	5.80%

Business Segments (Revenue by P

Business Segments (Revenue by Product Lines) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Revenues	$ 541,068	$ 512,476
Percentage of net sales	100.00%	100.00%
Operating Segments | Sales | Drilling Technologies | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 96,680	$ 97,232
Percentage of net sales	17.80%	19.10%
Operating Segments | Sales | Downhole Technologies | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 69,215	$ 64,083
Percentage of net sales	12.80%	12.50%
Operating Segments | Sales | Subsea Technologies | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 74,000	$ 55,521
Percentage of net sales	13.70%	10.80%
Operating Segments | Sales | Stimulation and Intervention | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 96,731	$ 56,460
Percentage of net sales	17.90%	11.00%
Operating Segments | Sales | Coiled Tubing | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 88,287	$ 62,225
Percentage of net sales	16.30%	12.10%
Operating Segments | Sales | Production Equipment | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 60,981	$ 65,763
Percentage of net sales	11.30%	12.80%
Operating Segments | Sales | Valve Solutions | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ 55,729	$ 111,747
Percentage of net sales	10.30%	21.80%
Eliminations
Revenue from External Customer [Line Items]
Revenues	$ (555)	$ (555)
Eliminations | Sales | Product Concentration Risk
Revenue from External Customer [Line Items]
Revenues	$ (555)	$ (555)
Percentage of net sales	(0.10%)	(0.10%)

Uncategorized Items - fet-20211

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]