Expro (XPRO) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 28, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36053
Entity Registrant Name	FRANK'S INTERNATIONAL N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1107145
Entity Address, Address Line One	Mastenmakersweg 1
Entity Address, Postal Zip Code	1786 PB
Entity Address, City or Town	Den Helder
Entity Address, Country	NL
City Area Code	22
Local Phone Number	367 0000
Title of 12(b) Security	Common Stock, €0.01 par value
Trading Symbol	FI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		226,142,257
Entity Central Index Key	0001575828
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 192,921	$ 195,383
Restricted cash	1,358	1,357
Accounts receivables, net	137,068	166,694
Inventories, net	79,857	78,829
Assets held for sale	8,732	13,795
Other current assets	8,943	10,360
Total current assets	428,879	466,418
Property, plant and equipment, net	297,794	328,432
Goodwill	42,785	99,932
Intangible assets, net	9,643	16,971
Deferred tax assets, net	15,774	16,590
Operating lease right-of-use assets	29,594	32,585
Other assets	29,513	33,237
Total assets	853,982	994,165
Current liabilities:
Accounts payable and accrued liabilities	104,022	120,321
Current portion of operating lease liabilities	7,854	7,925
Deferred revenue	425	657
Total current liabilities	112,301	128,903
Deferred tax liabilities	1,503	2,923
Non-current operating lease liabilities	22,803	24,969
Other non-current liabilities	23,711	27,076
Total liabilities	160,318	183,871
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, €0.01 par value, 798,096,000 shares authorized, 228,292,992 and 227,000,507 shares issued and 225,927,200 and 225,510,650 shares outstanding	2,860	2,846
Additional paid-in capital	1,082,008	1,075,809
Accumulated deficit	(341,349)	(220,805)
Accumulated other comprehensive loss	(30,013)	(30,298)
Treasury stock (at cost), 2,365,792 and 1,489,857 shares	(19,842)	(17,258)
Total stockholders’ equity	693,664	810,294
Total liabilities and equity	$ 853,982	$ 994,165

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - € / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value per share (in EUR per share)	€ 0.01	€ 0.01
Common stock, shares authorized (in shares)	798,096,000	798,096,000
Common stock, shares, issued (in shares)	228,292,992	227,000,507
Common stock, shares, outstanding (in shares)	225,927,200	225,510,650
Treasury stock, shares at cost (in shares)	2,365,792	1,489,857

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Revenue	$ 86,101,000	$ 155,654,000	$ 209,593,000	$ 300,062,000
Cost of revenue, exclusive of depreciation and amortization
General and administrative expenses	22,286,000	34,026,000	48,969,000	69,437,000
Depreciation and amortization	17,252,000	23,913,000	36,970,000	49,155,000
Goodwill impairment	0	0	57,146,000	0
Severance and other charges, net	5,162,000	815,000	25,887,000	1,270,000
(Gain) loss on disposal of assets	(650,000)	154,000	(590,000)	381,000
Operating loss	(27,286,000)	(12,514,000)	(121,494,000)	(32,808,000)
Other income (expense):
Tax receivable agreement related adjustments	0	220,000	0	220,000
Other income, net	156,000	669,000	2,182,000	1,198,000
Interest income, net	178,000	426,000	711,000	1,194,000
Foreign currency gain (loss)	1,693,000	(661,000)	(8,199,000)	(178,000)
Total other income (expense)	2,027,000	654,000	(5,306,000)	2,434,000
Loss before income taxes	(25,259,000)	(11,860,000)	(126,800,000)	(30,374,000)
Income tax expense (benefit)	8,986,000	3,300,000	(6,577,000)	13,073,000
Net loss	$ (34,245,000)	$ (15,160,000)	$ (120,223,000)	$ (43,447,000)
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.15)	$ (0.07)	$ (0.53)	$ (0.19)
Weighted average common shares outstanding:
Basic and diluted (in shares)	225,853	225,052	225,855	224,854
Services
Revenue:
Revenue	$ 74,583,000	$ 127,091,000	$ 179,666,000	$ 242,497,000
Cost of revenue, exclusive of depreciation and amortization
Cost of revenue	61,051,000	85,785,000	140,431,000	169,024,000
Products
Revenue:
Revenue	11,518,000	28,563,000	29,927,000	57,565,000
Cost of revenue, exclusive of depreciation and amortization
Cost of revenue	$ 8,286,000	$ 23,475,000	$ 22,274,000	$ 43,603,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (34,245)	$ (15,160)	$ (120,223)	$ (43,447)
Other comprehensive income (loss):
Foreign currency translation adjustments	(139)	458	285	708
Unrealized gain on marketable securities		0
Total other comprehensive income (loss)	(139)	458	285	708
Comprehensive loss	$ (34,384)	$ (14,702)	$ (119,938)	$ (42,739)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2018			224,290
Balance at beginning of period at Dec. 31, 2018	$ 1,034,772	$ (700)	$ 2,829	$ 1,062,794	$ 16,860	$ (700)	$ (32,338)	$ (15,373)
Increase (Decrease) in Stockholders' Equity
Net loss	(28,287)				(28,287)
Foreign currency translation adjustments	250						250
Equity-based compensation expense	2,574			2,574
Common shares issued upon vesting of share-based awards (in shares)			720
Common shares issued upon vesting of share-based awards	0		$ 8	(8)
Common shares issued for employee stock purchase plan (in shares)			154
Common shares issued for employee stock purchase plan	692		$ 2	690
Treasury shares withheld (in shares)			(220)
Treasury shares withheld	(1,452)							(1,452)
Balance at end of period (in shares) at Mar. 31, 2019			224,944
Balance at end of period at Mar. 31, 2019	1,007,849		$ 2,839	1,066,050	(12,127)		(32,088)	(16,825)
Balance at beginning of period (in shares) at Dec. 31, 2018			224,290
Balance at beginning of period at Dec. 31, 2018	1,034,772	(700)	$ 2,829	1,062,794	16,860	(700)	(32,338)	(15,373)
Increase (Decrease) in Stockholders' Equity
Net loss	(43,447)
Foreign currency translation adjustments	708
Balance at end of period (in shares) at Jun. 30, 2019			225,115
Balance at end of period at Jun. 30, 2019	996,076		$ 2,841	1,069,065	(28,923)		(29,994)	(16,913)
Balance at beginning of period (in shares) at Mar. 31, 2019			224,944
Balance at beginning of period at Mar. 31, 2019	1,007,849		$ 2,839	1,066,050	(12,127)		(32,088)	(16,825)
Increase (Decrease) in Stockholders' Equity
Net loss	(15,160)				(15,160)
Foreign currency translation adjustments	458						458
Change in marketable securities	0				(1,636)		1,636
Equity-based compensation expense	3,017			3,017
Common shares issued upon vesting of share-based awards (in shares)			186
Common shares issued upon vesting of share-based awards	0		$ 2	(2)
Treasury shares withheld (in shares)			(15)
Treasury shares withheld	(88)							(88)
Balance at end of period (in shares) at Jun. 30, 2019			225,115
Balance at end of period at Jun. 30, 2019	996,076		$ 2,841	1,069,065	(28,923)		(29,994)	(16,913)
Balance at beginning of period (in shares) at Dec. 31, 2019			225,511
Balance at beginning of period at Dec. 31, 2019	810,294	(321)	$ 2,846	1,075,809	(220,805)	(321)	(30,298)	(17,258)
Increase (Decrease) in Stockholders' Equity
Net loss	(85,978)				(85,978)
Foreign currency translation adjustments	424						424
Equity-based compensation expense	2,146			2,146
Common shares issued upon vesting of share-based awards (in shares)			937
Common shares issued upon vesting of share-based awards	0		$ 10	(10)
Common shares issued for employee stock purchase plan (in shares)			126
Common shares issued for employee stock purchase plan	552		$ 1	551
Treasury shares withheld (in shares)			(293)
Treasury shares withheld	(1,056)							(1,056)
Share repurchase program (in shares)			(373)
Share repurchase program	(1,017)							(1,017)
Balance at end of period (in shares) at Mar. 31, 2020			225,908
Balance at end of period at Mar. 31, 2020	725,044		$ 2,857	1,078,496	(307,104)		(29,874)	(19,331)
Balance at beginning of period (in shares) at Dec. 31, 2019			225,511
Balance at beginning of period at Dec. 31, 2019	810,294	$ (321)	$ 2,846	1,075,809	(220,805)	$ (321)	(30,298)	(17,258)
Increase (Decrease) in Stockholders' Equity
Net loss	(120,223)
Foreign currency translation adjustments	285
Balance at end of period (in shares) at Jun. 30, 2020			225,927
Balance at end of period at Jun. 30, 2020	693,664		$ 2,860	1,082,008	(341,349)		(30,013)	(19,842)
Balance at beginning of period (in shares) at Mar. 31, 2020			225,908
Balance at beginning of period at Mar. 31, 2020	725,044		$ 2,857	1,078,496	(307,104)		(29,874)	(19,331)
Increase (Decrease) in Stockholders' Equity
Net loss	(34,245)				(34,245)
Foreign currency translation adjustments	(139)						(139)
Equity-based compensation expense	3,515			3,515
Common shares issued upon vesting of share-based awards (in shares)			229
Common shares issued upon vesting of share-based awards	0		$ 3	(3)
Treasury shares withheld (in shares)			(13)
Treasury shares withheld	(31)							(31)
Share repurchase program (in shares)			(197)
Share repurchase program	(480)							(480)
Balance at end of period (in shares) at Jun. 30, 2020			225,927
Balance at end of period at Jun. 30, 2020	$ 693,664		$ 2,860	$ 1,082,008	$ (341,349)		$ (30,013)	$ (19,842)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (120,223,000)	$ (43,447,000)
Adjustments to reconcile net loss to cash from operating activities
Depreciation and amortization	36,970,000	49,155,000
Equity-based compensation expense	5,661,000	5,591,000
Goodwill impairment	57,146,000	0
Loss on asset impairments and retirements	20,532,000	0
Amortization of deferred financing costs	194,000	177,000
Deferred tax provision (benefit)	(1,690,000)	3,702,000
Provision for bad debts	1,750,000	85,000
(Gain) loss on disposal of assets	(590,000)	381,000
Changes in fair value of investments	813,000	(1,879,000)
Unrealized (gain) loss on derivative instruments	0	204,000
Other	(380,000)	(373,000)
Changes in operating assets and liabilities
Accounts receivable	24,465,000	(14,334,000)
Inventories	(4,539,000)	(2,323,000)
Other current assets	2,272,000	2,063,000
Other assets	390,000	111,000
Accounts payable and accrued liabilities	(15,187,000)	(17,118,000)
Deferred revenue	(226,000)	22,000
Other non-current liabilities	(3,212,000)	594,000
Net cash provided by (used in) operating activities	4,146,000	(17,389,000)
Cash flows from investing activities
Purchases of property, plant and equipment and intangibles	(20,259,000)	(17,240,000)
Proceeds from sale of assets	6,565,000	260,000
Proceeds from sale of investments	2,832,000	31,739,000
Purchase of investments	0	(20,185,000)
Other	(256,000)	0
Net cash used in investing activities	(11,118,000)	(5,426,000)
Cash flows from financing activities
Repayments of borrowings	0	(3,492,000)
Treasury shares withheld for taxes	(1,086,000)	(1,542,000)
Treasury share repurchase	(1,498,000)	0
Proceeds from the issuance of ESPP shares	552,000	692,000
Deferred financing costs	0	(184,000)
Net cash used in financing activities	(2,032,000)	(4,526,000)
Effect of exchange rate changes on cash	6,543,000	(416,000)
Net decrease in cash, cash equivalents and restricted cash	(2,461,000)	(27,757,000)
Cash, cash equivalents and restricted cash at beginning of period	196,740,000	186,212,000
Cash, cash equivalents and restricted cash at end of period	$ 194,279,000	$ 158,455,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Nature of Business Frank’s International N.V. (“FINV”), a limited liability company organized under the laws of the Netherlands, is a global provider of highly engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. FINV provides services and products to leading exploration and production companies in both offshore and onshore environments with a focus on complex and technically demanding wells. The impact of the Coronavirus Disease 2019 (“Covid-19”) pandemic and related economic, business and market disruptions is evolving rapidly and its future effects are uncertain. The actual impact of these recent developments on our business will depend on many factors, many of which are beyond management's control and knowledge. It is therefore difficult for management to assess or predict with precision the broad future effect of this health crisis on the global economy, the energy industry or us. As additional information becomes available, events or circumstances change and strategic operational decisions are made by management, further adjustments may be required which could have a material adverse impact on the Company's consolidated financial position, results of operations and cash flows. Basis of Presentation The condensed consolidated financial statements of FINV for the three and six months ended June 30, 2020 and 2019 include the activities of FINV, Frank’s International C.V. (“FICV”), Blackhawk Group Holdings, LLC (“Blackhawk”) and their wholly owned subsidiaries (either individually or together, as context requires, the “Company,” “we,” “us” or “our”). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2019 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2019, which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 25, 2020 (“Annual Report”). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar. Reclassifications Certain prior-period amounts have been reclassified to conform to the current period’s presentation. These reclassifications had no impact on our operating income (loss), net income (loss), working capital, cash flows or total equity previously reported. Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all accounting pronouncements. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. We adopted the guidance on January 1, 2020 and the adoption did not have a material impact on our consolidated financial statements. The new credit loss standard is expected to accelerate recognition of credit losses on our accounts receivable. See Note 3—Accounts Receivable, net for additional information regarding allowance for credit losses on our accounts receivable.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	6 Months Ended
	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Cash and cash equivalents $ 192,921 $ 195,383 Restricted cash 1,358 1,357 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 194,279 $ 196,740 Restricted cash primarily consists of cash deposits that collateralize our credit card program. Cash paid for income taxes, net of refunds, was $8.6 million and $4.4 million for the six months ended June 30, 2020 and 2019, respectively.

Accounts Receivable, net

Accounts Receivable, net	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Trade accounts receivable, net of allowance for credit losses of $7,333 and $5,129, respectively $ 78,082 $ 101,718 Unbilled receivables 26,121 43,422 Taxes receivable 29,239 18,516 Affiliated (1) 549 549 Other receivables 3,077 2,489 Total accounts receivable, net $ 137,068 $ 166,694 (1) Amounts represent expenditures on behalf of non-consolidated affiliates. We estimate current expected credit losses on our accounts receivable at each reporting date. We estimate current expected credit losses based on our credit loss history, adjusted for current factors including global economic and business conditions, oil and natural gas industry and market conditions and customer mix.

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Pipe and connectors, net of allowance of $17,823 and $18,287, respectively $ 22,551 $ 21,779 Finished goods, net of allowance of $128 and $485, respectively 22,586 25,628 Work in progress 4,929 3,663 Raw materials, components and supplies 29,791 27,759 Total inventories, net $ 79,857 $ 78,829

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The following is a summary of property, plant and equipment at June 30, 2020 and December 31, 2019 (in thousands): Estimated June 30, December 31, Land — $ 29,744 $ 30,724 Land improvements 8-15 7,169 7,193 Buildings and improvements 13-39 114,314 116,182 Rental machinery and equipment 5-7 883,108 882,979 Machinery and equipment - other 7 56,992 60,182 Furniture, fixtures and computers 5 16,988 17,251 Automobiles and other vehicles 5 28,044 28,734 Leasehold improvements 7-15, or lease term if shorter 13,408 14,258 Construction in progress - machinery and equipment — 44,106 46,564 1,193,873 1,204,067 Less: Accumulated depreciation (896,079) (875,635) Total property, plant and equipment, net $ 297,794 $ 328,432 During the six months ended June 30, 2020, we recorded fixed asset impairment charges of $15.5 million primarily associated with construction in progress in our Cementing Equipment segment, which is included in severance and other charges, net on our condensed consolidated statements of operations. During the first quarter of 2020, the results of the Company's test for impairment of goodwill in the Cementing Equipment segment as a result of negative market indicators was a triggering event that indicated that our long-lived tangible assets in this segment were impaired. Impairment testing performed in the first quarter resulted in the determination that certain long-lived assets were not recoverable and that the estimated fair value was below the carrying value. No impairments were recognized during the three months ended June 30, 2020 or the three and six months ended June 30, 2019. Please see Note 16—Severance and Other Charges, net for additional details. During the second quarter of 2019, we sold a building classified as held for sale for $0.2 million and recorded an immaterial loss. During the second quarter of 2020, we sold a building classified as held for sale for $5.4 million and recorded a gain of $0.6 million. The following table presents the depreciation and amortization expense associated with each line item for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Services $ 15,771 $ 20,907 $ 33,034 $ 42,412 Products 184 425 423 859 General and administrative expenses 1,297 2,581 3,513 5,884 Total $ 17,252 $ 23,913 $ 36,970 $ 49,155

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill is not subject to amortization and is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. A qualitative assessment is allowed to determine if goodwill is potentially impaired. We have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test. The qualitative assessment determines whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount. If it is more likely than not that the fair value of the reporting unit is less than the carrying amount, then a quantitative impairment test is performed. The quantitative goodwill impairment test is used to identify both the existence of impairment and the amount of impairment loss. The test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded based on that difference. We complete our assessment of goodwill impairment as of October 31 each year. As a result of the decline in oil prices due to the ongoing Covid-19 pandemic and the Organization of Petroleum Exporting Countries (“OPEC”) and Russia price war, we identified that it was more likely than not that the fair value of goodwill within our Cementing Equipment reporting unit was less than its carrying value. Based on the result of our goodwill impairment test as of March 31, 2020, we recorded a $57.1 million impairment charge to goodwill, which is included in goodwill impairment on the condensed consolidated statements of operations. We used the income approach to estimate the fair value of the Cementing Equipment reporting unit, but also considered the market approach to validate the results. The income approach estimates the fair value by discounting the reporting unit’s estimated future cash flows using an estimated discount rate, or expected return, that a marketplace participant would have required as of the valuation date. The market approach includes the use of comparative multiples to corroborate the discounted cash flow results and involves significant judgment in the selection of the appropriate peer group companies and valuation multiples. The inputs used in the determination of fair value are generally level 3 inputs. Some of the more significant assumptions inherent in the income approach include the estimated future net annual cash flows for the reporting unit and the discount rate. We selected the assumptions used in the discounted cash flow projections using historical data supplemented by current and anticipated market conditions and estimated growth rates. Our estimates are based upon assumptions believed to be reasonable. However, given the inherent uncertainty in determining the assumptions underlying a discounted cash flow analysis, actual results may differ from those used in our valuation which could result in additional impairment charges in the future. Assuming all other assumptions and inputs used in the discounted cash flow analysis were held constant, a 50 basis point increase in the discount rate assumption would have increased the goodwill impairment charge by approximately $4.3 million. No goodwill impairment was recorded during the three months ended June 30, 2020 or for the three and six months ended June 30, 2019. At June 30, 2020, goodwill is allocated to our reportable segments as follows: Cementing Equipment - approximately $24.1 million; Tubular Running Services - approximately $18.7 million. Intangible Assets Identifiable intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. We evaluate impairment of our intangible assets on an asset group basis whenever circumstances indicate that the carrying value may not be recoverable. Intangible assets deemed to be impaired are written down to their fair value using a discounted cash flow model and, if available, comparable market values. The following table provides information related to our intangible assets as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Customer Relationships $ 28,300 $ (25,552) $ 2,748 $ 32,890 $ (23,946) $ 8,944 Intellectual Property 13,860 (6,965) 6,895 14,029 (6,002) 8,027 Total intangible assets $ 42,160 $ (32,517) $ 9,643 $ 46,919 $ (29,948) $ 16,971 Our intangible assets are primarily associated with our Cementing Equipment segment. Amortization expense for intangible assets was $0.9 million and $2.8 million for the three months ended June 30, 2020 and 2019, respectively, and $2.6 million and $5.7 million for the six months ended June 30, 2020 and 2019, respectively. During the first quarter of 2020, the results of the Company's test for impairment of goodwill in the Cementing Equipment segment as a result of the negative market indicators described above was a triggering event that indicated that our intangible assets in this segment were impaired. Impairment testing performed in the first quarter resulted in the determination that certain intangible assets were not recoverable and that the estimated fair value was below the carrying value. As a result, during the six months ended June 30, 2020, impairment charges of $4.7 million were recorded associated with certain customer relationships and intellectual property intangible assets in our Cementing Equipment segment, which are included in severance and other charges, net on the condensed consolidated statements of operations. No intangible asset impairment was recorded during the three months ended June 30, 2020 or the three and six months ended June 30, 2019. Please see Note 16—Severance and Other Charges, net for additional details.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 Cash surrender value of life insurance policies (1) $ 24,191 $ 27,313 Deposits 2,227 2,119 Other 3,095 3,805 Total other assets $ 29,513 $ 33,237 (1) See Note 10—Fair Value Measurements for additional information.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 Accounts payable $ 19,086 $ 16,793 Accrued compensation 19,182 23,988 Accrued property and other taxes 20,163 20,099 Accrued severance and other charges 3,986 5,837 Income taxes 15,851 19,166 Affiliated (1) 2,224 1,694 Accrued purchase orders and other 23,530 32,744 Total accounts payable and accrued liabilities $ 104,022 $ 120,321 (1) Represents amounts owed to non-consolidated affiliates.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Credit Facility Asset Based Revolving Credit Facility On November 5, 2018, FICV, Frank’s International, LLC and Blackhawk, as borrowers, and FINV, certain of FINV’s subsidiaries, including FICV, Frank’s International, LLC, Blackhawk, Frank’s International GP, LLC, Frank’s International, LP, Frank’s International LP B.V., Frank’s International Partners B.V., Frank’s International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., as guarantors, entered into a 5-year senior secured revolving credit facility (the “ABL Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent (the “ABL Agent”), and other financial institutions as lenders with total commitments of $100.0 million including up to $15.0 million available for letters of credit. Subject to the terms of the ABL Credit Facility, we have the ability to increase the commitments to $200.0 million. The maximum amount that the Company may borrow under the ABL Credit Facility is subject to a borrowing base, which is based on a percentage of certain eligible accounts receivable and eligible inventory, subject to customary reserves and other adjustments. All obligations under the ABL Credit Facility are fully and unconditionally guaranteed jointly and severally by FINV’s subsidiaries, including FICV, Frank’s International, LLC, Blackhawk, Frank’s International GP, LLC, Frank’s International, LP, Frank’s International LP B.V., Frank’s International Partners B.V., Frank’s International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., subject to customary exceptions and exclusions. In addition, the obligations under the ABL Credit Facility are secured by first priority liens on substantially all of the assets and property of the borrowers and guarantors, including pledges of equity interests in certain of FINV’s subsidiaries, subject to certain exceptions. Borrowings under the ABL Credit Facility bear interest at FINV’s option at either (a) the Alternate Base Rate ( “ ABR ” ) (as defined therein), calculated as the greatest of (i) the rate of interest publicly quoted by the Wall Street Journal, as the “prime rate,” subject to each increase or decrease in such prime rate effective as of the date such change occurs, (ii) the federal funds effective rate that is subject to a 0.00% interest rate floor plus 0.50%, and (iii) the one-month Adjusted LIBO Rate (as defined therein) plus 1.00%, or (b) the Adjusted LIBO Rate, plus, in each case, an applicable margin. The applicable interest rate margin ranges from 1.00% to 1.50% per annum for ABR loans and 2.00% to 2.50% per annum for Eurodollar loans and, in each case, is based on FINV’s leverage ratio. The unused portion of the ABL Credit Facility is subject to a commitment fee that varies from 0.250% to 0.375% per annum, according to average daily unused commitments under the ABL Credit Facility. Interest on Eurodollar loans is payable at the end of the selected interest period, but no less frequently than quarterly. Interest on ABR loans is payable monthly in arrears. The ABL Credit Facility contains various covenants and restrictive provisions which limit, subject to certain customary exceptions and thresholds, FINV’s ability to, among other things, (1) enter into asset sales; (2) incur additional indebtedness; (3) make investments, acquisitions, or loans and create or incur liens; (4) pay certain dividends or make other distributions and (5) engage in transactions with affiliates. The ABL Credit Facility also requires FINV to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0 based on the ratio of (a) consolidated EBITDA (as defined therein) minus unfinanced capital expenditures to (b) Fixed Charges (as defined therein), when either (i) an event of default occurs under the ABL Credit Facility or (ii) availability under the ABL Credit Facility falls for at least two consecutive calendar days below the greater of (A) $12.5 million and (B) 15% of the lesser of the borrowing base and aggregate commitments (a “FCCR Trigger Event”). Accounts receivable received by FINV’s U.S. subsidiaries that are parties to the ABL Credit Facility will be deposited into deposit accounts subject to deposit control agreements in favor of the ABL Agent. After a FCCR Trigger Event, these deposit accounts would be subject to “springing” cash dominion. After a FCCR Trigger Event, the Company will be subject to compliance with the fixed charge coverage ratio and “springing” cash dominion until no default exists under the ABL Credit Facility and availability under the facility for the preceding thirty consecutive days has been equal to at least the greater of (x) $12.5 million and (y) 15% of the lesser of the borrowing base and the aggregate commitments. If FINV fails to perform its obligations under the agreement that results in an event of default, the commitments under the ABL Credit Facility could be terminated and any outstanding borrowings under the ABL Credit Facility may be declared immediately due and payable. The ABL Credit Facility also contains cross default provisions that apply to FINV’s other indebtedness. As of June 30, 2020, FINV had no borrowings outstanding under the ABL Credit Facility, letters of credit outstanding of $9.2 million and availability of $25.1 million.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We follow fair value measurement authoritative accounting guidance for measuring fair values of assets and liabilities in financial statements. We have consistently used the same valuation techniques for all periods presented. Please see Note 10 — Fair Value Measurements in our Annual Report for further discussion. A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of June 30, 2020 and December 31, 2019, were as follows (in thousands): Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Total June 30, 2020 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 24,191 $ — $ 24,191 Marketable securities - other 3 — — 3 Liabilities: Deferred compensation plan — 20,385 — 20,385 December 31, 2019 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 27,313 $ — $ 27,313 Marketable securities - other 8 — — 8 Liabilities: Derivative financial instruments — 324 — 324 Deferred compensation plan — 23,251 — 23,251 Our derivative financial instruments consist of short-duration foreign currency forward contracts. The fair value of our derivative financial instruments is based on quoted market values including foreign exchange forward rates and interest rates. The fair value is computed by discounting the projected future cash flow amounts to present value. Derivative financial instruments are included in accounts payable and accrued liabilities at December 31, 2019. Our investments associated with our deferred compensation plan consist primarily of the cash surrender value of life insurance policies and are included in other assets on the condensed consolidated balance sheets. Our investments change as a result of contributions, payments, and fluctuations in the market. Our liabilities associated with our deferred compensation plan are included in o ther non-current liabilities on the condensed consolidated balance sheets. Assets and liabilities, measured using significant observable inputs, are reported at fair value based on third-party broker statements, which are derived from the fair value of the funds’ underlying investments. We also have marketable securities in publicly traded equity securities as an indirect result of strategic investments. They are reported at fair value based on the price of the stock and are included in other assets on the condensed consolidated balance sheets. Assets and Liabilities Measured at Fair Value on a Non-recurring Basis We apply the provisions of the fair value measurement standard to our non-recurring, non-financial measurements including business combinations and assets identified as held for sale, as well as impairment related to goodwill and other long-lived assets. We perform our goodwill impairment assessment for each reporting unit by comparing the estimated fair value of each reporting unit to the reporting unit’s carrying value, including goodwill. We estimate the fair value for each reporting unit using a discounted cash flow analysis based on management’s short-term and long-term forecast of operating performance. This analysis includes significant assumptions regarding discount rates, revenue growth rates, expected profitability margins, forecasted capital expenditures and the timing of expected future cash flows based on market conditions. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, an impairment loss is measured and recorded. When conducting an impairment test on long-lived assets, other than goodwill, we first compare estimated future undiscounted cash flows associated with the asset to the asset’s carrying amount. If the undiscounted cash flows are less than the asset’s carrying amount, we then determine the asset’s fair value by using a discounted cash flow analysis. These analyses are based on estimates such as management’s short-term and long-term forecast of operating performance, including revenue growth rates and expected profitability margins, estimates of the remaining useful life and service potential of the asset, and a discount rate based on our weighted average cost of capital. As a result of factors, including Covid-19, we have sustained a continued decline in the market price of our common stock. This is one of the qualitative factors to be considered when evaluating whether events or changes in circumstances may indicate that it is likely that a potential goodwill impairment exists. We will consider this decline and other factors, both specific to us and to the energy industry as a whole, as a result of Covid-19 as we perform our annual goodwill impairment test as of October 31 this year. The impairment assessments discussed above incorporate inherent uncertainties, including projected commodity pricing, supply and demand for our services and future market conditions, which are difficult to predict in volatile economic environments and could result in impairment charges in future periods if actual results materially differ from the estimated assumptions utilized in our forecasts. If crude oil prices decline significantly and remain at low levels for a sustained period of time, we could be required to record an impairment of the carrying value of our long-lived assets in the future which could have a material adverse impact on our operating results. Given the unobservable nature of the inputs, the discounted cash flow models are deemed to use Level 3 inputs. Other Fair Value Considerations The carrying values on our condensed consolidated balance sheets of our cash and cash equivalents, restricted cash, short-term investments, trade accounts receivable, other current assets, accounts payable and accrued liabilities and lines of credit approximate fair values due to their short maturities.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives From time to time we enter into short-duration foreign currency forward derivative contracts to reduce the risk of foreign currency fluctuations. We use these instruments to mitigate our exposure to non-local currency operating working capital. We record these contracts at fair value on our condensed consolidated balance sheets. Although the derivative contracts will serve as an economic hedge of the cash flow of our currency exchange risk exposure, they are not formally designated as hedge contracts for hedge accounting treatment. Accordingly, any changes in the fair value of the derivative instruments during a period will be included in our condensed consolidated statements of operations. As of June 30, 2020, we had no foreign currency derivative contracts outstanding. As of December 31, 2019, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): December 31, 2019 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 948 1.3182 3/16/2020 Euro 9,279 1.1180 3/17/2020 Norwegian krone 11,027 9.0688 3/17/2020 Pound sterling 16,057 1.3381 3/17/2020 The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of December 31, 2019 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location December 31, 2019 Foreign currency contracts Accounts payable and accrued liabilities $ (324) The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended June 30, June 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2020 2019 2020 2019 Unrealized loss on foreign currency contracts Other income, net $ — $ (700) $ — $ (204) Realized gain (loss) on foreign currency contracts Other income, net — 1,072 1,475 412 Total net gain (loss) on foreign currency contracts $ — $ 372 $ 1,475 $ 208 Our derivative transactions are governed through International Swaps and Derivatives Association master agreements. These agreements include stipulations regarding the right of offset in the event that we or our counterparty default on our performance obligations. If a default were to occur, both parties have the right to net amounts payable and receivable into a single net settlement between parties. Our accounting policy is to offset derivative assets and liabilities executed with the same counterparty when a master netting arrangement exists. The following table presents the gross and net fair values of our derivatives at December 31, 2019 (in thousands): Derivative Asset Positions Derivative Liability Positions December 31, 2019 December 31, 2019 Gross position - asset / (liability) $ 127 $ (451) Netting adjustment (127) 127 Net position - asset / (liability) $ — $ (324)

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have engaged in certain transactions with other companies related to us by common ownership. We have entered into various operating leases to lease facilities from these affiliated companies. Rent expense associated with our related party leases was $0.7 million and $0.7 million for the three months ended June 30, 2020 and 2019, respectively, and $1.4 million and $1.4 million for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, $5.3 million of our operating lease right-of-use assets and $6.0 million of our lease liabilities were associated with related party leases. Tax Receivable Agreement Mosing Holdings, LLC ("Mosing Holdings") and its permitted transferees converted all of their shares of Series A convertible preferred stock in FICV (the “Preferred Stock”) into shares of our common stock on August 26, 2016, in connection with their delivery to FINV of all of their interests in FICV (the “Conversion”). As a result of an election under Section 754 of the Internal Revenue Code made by FICV, the Conversion resulted in an adjustment to the tax basis of the tangible and intangible assets of FICV with respect to the portion of FICV transferred to FINV by Mosing Holdings and its permitted transferees. These adjustments are allocated to FINV. The adjustments to the tax basis of the tangible and intangible assets of FICV described above would not have been available absent the Conversion. The basis adjustments may reduce the amount of tax that FINV would otherwise be required to pay in the future. These basis adjustments may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The tax receivable agreement (the "TRA") that we entered into with FICV and Mosing Holdings in connection with our initial public offering (“IPO”) generally provides for the payment by FINV to Mosing Holdings of 85% of the net cash savings, if any, in U.S. federal, state and local income tax and franchise tax that we actually realize (or are deemed to realize in certain circumstances) in periods after our IPO as a result of (i) tax basis increases resulting from the Conversion and (ii) imputed interest deemed to be paid by FINV as a result of, and additional tax basis arising from, payments under the TRA. We will retain the benefit of the remaining 15% of these cash savings, if any. Payments FINV makes under the TRA will be increased by any interest accrued from the due date (without extensions) of the corresponding tax return to the date of payment specified by the TRA. The payments under the TRA will not be conditioned upon a holder of rights under the TRA having a continued ownership interest in FINV. The estimation of the amount and timing of payments under the TRA is by its nature imprecise. For purposes of the TRA, cash savings in tax generally are calculated by comparing FINV’s actual tax liability to the amount FINV would have been required to pay had it not been able to utilize any of the tax benefits subject to the TRA. The amounts payable, as well as the timing of any payments, under the TRA are dependent upon significant future events and assumptions, including the amount and timing of the taxable income FINV generates in the future. As of June 30, 2020, FINV has had a cumulative loss over the prior 36-month period. Based on this history of losses, as well as uncertainty regarding the timing and amount of future taxable income, we are no longer able to conclude that there will be future cash savings that will lead to additional payouts under the TRA. Additional TRA liability may be recognized in the future based on changes in expectations regarding the timing and likelihood of future cash savings. The payment obligations under the TRA are FINV’s obligations and are not obligations of FICV. The term of the TRA commenced upon the completion of the IPO and will continue until all tax benefits that are subject to the TRA have been utilized or expired, unless FINV elects to exercise its right to terminate the TRA (or the TRA is terminated due to other circumstances, including our breach of a material obligation thereunder or certain mergers or other changes of control), and FINV makes the termination payment specified by the TRA. If FINV elects to terminate the TRA early, which it may do in its sole discretion (or if it terminates early as a result of our breach), it would be required to make a substantial, immediate lump-sum payment equal to the present value of the hypothetical future payments that could be required to be paid under the TRA (based upon certain assumptions and deemed events set forth in the TRA, including the assumption that it has sufficient taxable income to fully utilize such benefits), determined by applying a discount rate equal to the long-term Treasury rate in effect on the applicable date plus 300 basis points. Any early termination payment may be made significantly in advance of the actual realization, if any, of such future benefits. In addition, payments due under the TRA will be similarly accelerated following certain mergers or other changes of control. In these situations, FINV’s obligations under the TRA could have a substantial negative impact on our liquidity and could have the effect of delaying, deferring or preventing certain mergers, asset sales, other forms of business combinations or other changes of control. For example, if the TRA were terminated on June 30, 2020, the estimated termination payment would be approximately $57.4 million (calculated using a discount rate of 4.18%). The foregoing number is merely an estimate and the actual payment could differ materially. Because FINV is a holding company with no operations of its own, its ability to make payments under the TRA is dependent on the ability of our operating subsidiaries to make distributions to it in an amount sufficient to cover FINV’s obligations under such agreement. The ability of certain of our operating subsidiaries to make such distributions will be subject to, among other things, the applicable provisions of Dutch law that may limit the amount of funds available for distribution and restrictions in our debt instruments. To the extent that FINV is unable to make payments under the TRA for any reason (except in the case of an acceleration of payments thereunder occurring in connection with an early termination of the TRA or certain mergers or change of control) such payments will be deferred and will accrue interest until paid, and FINV will be prohibited from paying dividends on its common stock.

Loss Per Common Share

Loss Per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Common Share	Loss Per Common Share Basic loss per common share is determined by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is determined by dividing net loss by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by unvested restricted stock units and employee stock purchase plan (“ESPP”) shares. The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Numerator Net loss $ (34,245) $ (15,160) $ (120,223) $ (43,447) Denominator Basic and diluted weighted average common shares (1) 225,853 225,052 225,855 224,854 Loss per common share: Basic and diluted $ (0.15) $ (0.07) $ (0.53) $ (0.19) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 707 705 955 826

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim financial reporting, we estimate the annual tax rate based on projected pre-tax income (loss) for the full year and record a quarterly income tax provision (benefit) in accordance with accounting guidance for income taxes. As the year progresses, we refine the estimate of the year’s pre-tax income (loss) as new information becomes available. The continual estimation process often results in a change to the expected effective tax rate for the year. When this occurs, we adjust the income tax provision (benefit) during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the most current expected annual tax rate. Our effective tax rate was (35.6)% and (27.8)% for the three months ended June 30, 2020 and 2019, respectively, and 5.2% and (43.0)% for the six months ended June 30, 2020 and 2019, respectively. The quarterly variance in effective tax rates is primarily due to a change in the geographical mix of income. The variance in effective tax rates compared to the same six month period last year is due to the beneficial impact in the current period of a provision in the recently-enacted Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which allows corporations with net operating losses (“NOLs”) incurred in 2018, 2019 and 2020 to carry back such NOLs to each of the five years preceding the year of the NOL, beginning with the earliest year in which there is taxable income, and claim an income tax refund in the applicable carryback year. As a result of the NOL carryback provision in the CARES Act, we were able to recognize an income tax refund receivable as of June 30, 2020 of $17.5 million. We are subject to tax in many U.S. and foreign jurisdictions. In many foreign jurisdictions we are taxed on bases such as deemed profits or withholding taxes based on revenue. Consequently, the relationship between our pre-tax income and our income tax provision varies from period to period. We are under audit by certain foreign jurisdictions for the years 2008 - 2019. We do not expect the results of these audits to have any material effect on our financial statements.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are the subject of lawsuits and claims arising in the ordinary course of business from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. We had no material accruals for loss contingencies, individually or in the aggregate, as of June 30, 2020 and December 31, 2019. We believe the probability is remote that the ultimate outcome of these matters would have a material adverse effect on our financial position, results of operations or cash flows. We are conducting an internal investigation of the operations of certain of our foreign subsidiaries in West Africa including possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), our policies and other applicable laws. In June 2016, we voluntarily disclosed the existence of our extensive internal review to the SEC, the U.S. Department of Justice (“DOJ”) and other governmental entities. It is our intent to continue to fully cooperate with these agencies and any other applicable authorities in connection with any further investigation that may be conducted in connection with this matter. While our review has not indicated that there has been any material impact on our previously filed financial statements, we have continued to collect information and cooperate with the authorities, but at this time are unable to predict the ultimate resolution of these matters with these agencies. As disclosed above, our investigation into possible violations of the FCPA remains ongoing, and we will continue to cooperate with the SEC, DOJ and other relevant governmental entities in connection therewith. At this time, we are unable to predict the ultimate resolution of these matters with these agencies, including any financial impact to us. Our board and management are committed to continuously enhancing our internal controls that support improved compliance and transparency throughout our global operations.

Severance and Other Charges, ne

Severance and Other Charges, net	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Severance and Other Charges, net	Severance and Other Charges, net We recognize severance and other charges for costs associated with workforce reductions, facility closures, exiting or reducing our footprint in certain countries, asset impairments and the retirement of excess machinery and equipment based on economic utility. As a result of the downturn in the industry and its impact on our business outlook, we continue to take actions to adjust our operations and cost structure to reflect current and expected activity levels. Depending on future market conditions, further actions may be necessary to adjust our operations, which may result in additional charges. Our severance and other charges, net are summarized below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Severance and other costs $ 4,794 $ 593 $ 5,332 $ 982 Fixed asset impairments and retirements — — 15,479 66 Inventory write-offs 368 222 368 222 Intangible asset impairments — — 4,708 — $ 5,162 $ 815 $ 25,887 $ 1,270 Severance and other costs : We incurred costs due to a continued effort to adjust our cost base, including reducing our workforce to meet the depressed demand in the industry. At June 30, 2020, our outstanding liability associated with our current program was approximately $4.0 million and included severance payments and other employee-related separation costs. Below is a reconciliation of our employee separation liability balance (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Balance at December 31, 2019 $ 2,000 $ 19 $ 1,632 $ 2,186 $ 5,837 Additions for costs expensed 3,456 15 675 1,186 5,332 Severance and other payments (4,078) (13) (1,383) (1,375) (6,849) Other adjustments (8) — 22 (348) (334) Balance at June 30, 2020 $ 1,370 $ 21 $ 946 $ 1,649 $ 3,986 Fixed asset impairments and retirements : During the six months ended June 30, 2019, we recognized $0.1 million of impairment related to assets held for sale. During the six months ended June 30, 2020, we recorded fixed asset impairment charges of $15.5 million primarily associated with construction in progress in our Cementing Equipment segment. Please see Note 5—Property, Plant and Equipment for additional details. Inventory write-offs: During the six months ended June 30, 2020, certain inventories in our Cementing Equipment segment were determined to have costs that exceeded their net realizable values, resulting in a charge of $0.4 million. Intangible asset impairments: During the six months ended June 30, 2020, we identified certain intangible assets where the carrying value exceeded the fair value in the Cementing Equipment segment, resulting in an impairment charge of $4.7 million. Please see Note 6—Goodwill and Intangible Assets for additional details.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Reporting Segments Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (" CODM") in deciding how to allocate resources and assess performance. We are comprised of three reportable segments: Tubular Running Services (“TRS”) segment, Tubulars segment and Cementing Equipment (“CE”) segment. The TRS segment provides tubular running services globally. Internationally, the TRS segment operates in the majority of the offshore oil and gas markets and also in several onshore regions with operations in approximately 50 countries on six continents. In the U.S., the TRS segment provides services in the active onshore oil and gas drilling regions, including the Permian Basin, Eagle Ford Shale, Haynesville Shale, Marcellus Shale and Utica Shale, and in the U.S. Gulf of Mexico. Our customers are primarily large exploration and production companies, including international oil and gas companies, national oil and gas companies, major independents and other oilfield service companies. The Tubulars segment designs, manufactures and distributes connectors and casing attachments for large outside diameter (“OD”) heavy wall pipe. Additionally, the Tubulars segment sells large OD pipe originally manufactured by various pipe mills, as plain end or fully fabricated with proprietary welded or thread-direct connector solutions and provides specialized fabrication and welding services in support of offshore deepwater projects, including drilling and production risers, flowlines and pipeline end terminations, as well as long-length tubular assemblies up to 400 feet in length. The Tubulars segment also specializes in the development, manufacture and supply of proprietary drilling tool solutions that focus on improving drilling productivity through eliminating or mitigating traditional drilling operational risks. The CE segment provides specialty equipment to enhance the safety and efficiency of rig operations. It provides specialized equipment, services and products utilized in the construction of the wellbore in both onshore and offshore environments. The product portfolio includes casing accessories that serve to improve the installation of casing, centralization and wellbore zonal isolation, as well as enhance cementing operations through advance wiper plug and float equipment technology. The CE segment also provides services and products utilized in the construction, completion or abandonment of the wellbore. These solutions are primarily used to isolate portions of the wellbore through the setting of barriers downhole to allow for rig evacuation in case of inclement weather, maintenance work on other rig equipment, squeeze cementing, pressure testing within the wellbore and temporary and permanent abandonments. These offerings improve operational efficiencies and limit non-productive time if unscheduled events are encountered at the wellsite. Revenue We disaggregate our revenue from contracts with customers by geography for each of our segments, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Intersegment revenue is immaterial. The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands): Three Months Ended June 30, 2020 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 18,874 $ 4,990 $ 7,284 $ 31,148 International 43,453 3,751 7,749 54,953 Total Revenue $ 62,327 $ 8,741 $ 15,033 $ 86,101 Three Months Ended June 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 41,408 $ 18,387 $ 21,341 $ 81,136 International 65,207 3,947 5,364 74,518 Total Revenue $ 106,615 $ 22,334 $ 26,705 $ 155,654 Six Months Ended June 30, 2020 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 49,043 $ 14,787 $ 20,815 $ 84,645 International 102,781 6,496 15,671 124,948 Total Revenue $ 151,824 $ 21,283 $ 36,486 $ 209,593 Six Months Ended June 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 79,563 $ 35,015 $ 42,919 $ 157,497 International 125,131 5,976 11,458 142,565 Total Revenue $ 204,694 $ 40,991 $ 54,377 $ 300,062 Revenue by geographic area were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 United States $ 31,148 $ 81,136 $ 84,645 $ 157,497 Europe/Middle East/Africa 21,886 38,655 57,320 75,055 Latin America 20,077 19,895 41,002 37,339 Asia Pacific 8,734 10,077 18,303 18,026 Other countries 4,256 5,891 8,323 12,145 Total Revenue $ 86,101 $ 155,654 $ 209,593 $ 300,062 Adjusted EBITDA We define Adjusted EBITDA as net income (loss) before interest income, net, depreciation and amortization, income tax benefit or expense, asset impairments, gain or loss on disposal of assets, foreign currency gain or loss, equity-based compensation, unrealized and realized gain or loss, net severance and other charges, other non-cash adjustments and other charges. We review Adjusted EBITDA on both a consolidated basis and on a segment basis. We use Adjusted EBITDA to assess our financial performance because it allows us to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization), income tax, foreign currency exchange rates and other charges and credits. Adjusted EBITDA has limitations as an analytical tool and should not be considered as an alternative to net income (loss), operating income (loss), cash flow from operating activities or any other measure of financial performance presented in accordance with GAAP. Our CODM uses Adjusted EBITDA as the primary measure of segment reporting performance. The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Segment Adjusted EBITDA: Tubular Running Services $ 4,049 $ 25,400 $ 17,354 $ 43,135 Tubulars 681 3,934 2,077 8,046 Cementing Equipment 886 3,029 3,430 6,823 Corporate (1) (7,308) (15,200) (17,494) (31,183) (1,692) 17,163 5,367 26,821 Goodwill impairment — — (57,146) — Severance and other charges, net (5,162) (815) (25,887) (1,270) Interest income, net 178 426 711 1,194 Depreciation and amortization (17,252) (23,913) (36,970) (49,155) Income tax (expense) benefit (8,986) (3,300) 6,577 (13,073) Gain (loss) on disposal of assets 650 (154) 590 (381) Foreign currency gain (loss) 1,693 (661) (8,199) (178) TRA related adjustments — 220 — 220 Charges and credits (2) (3,674) (4,126) (5,266) (7,625) Net loss $ (34,245) $ (15,160) $ (120,223) $ (43,447) (1) Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives. (2) Comprised of Equity-based compensation expense (for the three months ended June 30, 2020 and 2019: $3,515 and $3,017, respectively, and for the six months ended June 30, 2020 and 2019: $5,661 and $5,591, respectively), Unrealized and realized gains (losses) (for the three months ended June 30, 2020 and 2019: $(111) and $383, respectively, and for the six months ended June 30, 2020 and 2019: $1,593 and $691, respectively) and Investigation-related matters (for the three months ended June 30, 2020 and 2019: $48 and $1,492, respectively, and for the six months ended June 30, 2020 and 2019: $1,198 and $2,725, respectively). The following tables set forth certain financial information with respect to our reportable segments (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Three Months Ended June 30, 2020 Revenue from external customers $ 62,327 $ 8,741 $ 15,033 $ — $ 86,101 Operating income (loss) (13,252) (184) (2,486) (11,364) (27,286) Adjusted EBITDA 4,049 681 886 (7,308) * Three Months Ended June 30, 2019 Revenue from external customers $ 106,615 $ 22,334 $ 26,705 $ — $ 155,654 Operating income (loss) 8,700 3,089 (2,310) (21,993) (12,514) Adjusted EBITDA 25,400 3,934 3,029 (15,200) * Six Months Ended June 30, 2020 Revenue from external customers $ 151,824 $ 21,283 $ 36,486 $ — $ 209,593 Operating income (loss) (14,567) 467 (79,984) (27,410) (121,494) Adjusted EBITDA 17,354 2,077 3,430 (17,494) * Six Months Ended June 30, 2019 Revenue from external customers $ 204,694 $ 40,991 $ 54,377 $ — $ 300,062 Operating income (loss) 8,841 6,283 (3,134) (44,798) (32,808) Adjusted EBITDA 43,135 8,046 6,823 (31,183) *

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of FINV for the three and six months ended June 30, 2020 and 2019 include the activities of FINV, Frank’s International C.V. (“FICV”), Blackhawk Group Holdings, LLC (“Blackhawk”) and their wholly owned subsidiaries (either individually or together, as context requires, the “Company,” “we,” “us” or “our”). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2019 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2019, which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 25, 2020 (“Annual Report”). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current period’s presentation. These reclassifications had no impact on our operating income (loss), net income (loss), working capital, cash flows or total equity previously reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all accounting pronouncements. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. We adopted the guidance on January 1, 2020 and the adoption did not have a material impact on our consolidated financial statements. The new credit loss standard is expected to accelerate recognition of credit losses on our accounts receivable. See Note 3—Accounts Receivable, net for additional information regarding allowance for credit losses on our accounts receivable.

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Cash and cash equivalents $ 192,921 $ 195,383 Restricted cash 1,358 1,357 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 194,279 $ 196,740
Restrictions on Cash and Cash Equivalents	Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Cash and cash equivalents $ 192,921 $ 195,383 Restricted cash 1,358 1,357 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 194,279 $ 196,740

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Trade accounts receivable, net of allowance for credit losses of $7,333 and $5,129, respectively $ 78,082 $ 101,718 Unbilled receivables 26,121 43,422 Taxes receivable 29,239 18,516 Affiliated (1) 549 549 Other receivables 3,077 2,489 Total accounts receivable, net $ 137,068 $ 166,694 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at June 30, 2020 and December 31, 2019 were as follows (in thousands): June 30, December 31, 2020 2019 Pipe and connectors, net of allowance of $17,823 and $18,287, respectively $ 22,551 $ 21,779 Finished goods, net of allowance of $128 and $485, respectively 22,586 25,628 Work in progress 4,929 3,663 Raw materials, components and supplies 29,791 27,759 Total inventories, net $ 79,857 $ 78,829

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	The following is a summary of property, plant and equipment at June 30, 2020 and December 31, 2019 (in thousands): Estimated June 30, December 31, Land — $ 29,744 $ 30,724 Land improvements 8-15 7,169 7,193 Buildings and improvements 13-39 114,314 116,182 Rental machinery and equipment 5-7 883,108 882,979 Machinery and equipment - other 7 56,992 60,182 Furniture, fixtures and computers 5 16,988 17,251 Automobiles and other vehicles 5 28,044 28,734 Leasehold improvements 7-15, or lease term if shorter 13,408 14,258 Construction in progress - machinery and equipment — 44,106 46,564 1,193,873 1,204,067 Less: Accumulated depreciation (896,079) (875,635) Total property, plant and equipment, net $ 297,794 $ 328,432
Summary of Depreciation and Amortization Expense	The following table presents the depreciation and amortization expense associated with each line item for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Services $ 15,771 $ 20,907 $ 33,034 $ 42,412 Products 184 425 423 859 General and administrative expenses 1,297 2,581 3,513 5,884 Total $ 17,252 $ 23,913 $ 36,970 $ 49,155

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table provides information related to our intangible assets as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Customer Relationships $ 28,300 $ (25,552) $ 2,748 $ 32,890 $ (23,946) $ 8,944 Intellectual Property 13,860 (6,965) 6,895 14,029 (6,002) 8,027 Total intangible assets $ 42,160 $ (32,517) $ 9,643 $ 46,919 $ (29,948) $ 16,971

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Assets	Other assets at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 Cash surrender value of life insurance policies (1) $ 24,191 $ 27,313 Deposits 2,227 2,119 Other 3,095 3,805 Total other assets $ 29,513 $ 33,237 (1) See Note 10—Fair Value Measurements for additional information.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities at June 30, 2020 and December 31, 2019 consisted of the following (in thousands): June 30, December 31, 2020 2019 Accounts payable $ 19,086 $ 16,793 Accrued compensation 19,182 23,988 Accrued property and other taxes 20,163 20,099 Accrued severance and other charges 3,986 5,837 Income taxes 15,851 19,166 Affiliated (1) 2,224 1,694 Accrued purchase orders and other 23,530 32,744 Total accounts payable and accrued liabilities $ 104,022 $ 120,321 (1) Represents amounts owed to non-consolidated affiliates.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of June 30, 2020 and December 31, 2019, were as follows (in thousands): Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Total June 30, 2020 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 24,191 $ — $ 24,191 Marketable securities - other 3 — — 3 Liabilities: Deferred compensation plan — 20,385 — 20,385 December 31, 2019 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 27,313 $ — $ 27,313 Marketable securities - other 8 — — 8 Liabilities: Derivative financial instruments — 324 — 324 Deferred compensation plan — 23,251 — 23,251

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Currency Derivative Contracts Outstanding	As of June 30, 2020, we had no foreign currency derivative contracts outstanding. As of December 31, 2019, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): December 31, 2019 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 948 1.3182 3/16/2020 Euro 9,279 1.1180 3/17/2020 Norwegian krone 11,027 9.0688 3/17/2020 Pound sterling 16,057 1.3381 3/17/2020
Impact of Derivative Contracts on Condensed Consolidated Balance Sheets	The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of December 31, 2019 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location December 31, 2019 Foreign currency contracts Accounts payable and accrued liabilities $ (324)
Impact of Derivative Contracts on Condensed Consolidated Statements of Operations	The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended June 30, June 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2020 2019 2020 2019 Unrealized loss on foreign currency contracts Other income, net $ — $ (700) $ — $ (204) Realized gain (loss) on foreign currency contracts Other income, net — 1,072 1,475 412 Total net gain (loss) on foreign currency contracts $ — $ 372 $ 1,475 $ 208
Schedule of Derivative Assets, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at December 31, 2019 (in thousands): Derivative Asset Positions Derivative Liability Positions December 31, 2019 December 31, 2019 Gross position - asset / (liability) $ 127 $ (451) Netting adjustment (127) 127 Net position - asset / (liability) $ — $ (324)
Schedule of Derivative Liabilities, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at December 31, 2019 (in thousands): Derivative Asset Positions Derivative Liability Positions December 31, 2019 December 31, 2019 Gross position - asset / (liability) $ 127 $ (451) Netting adjustment (127) 127 Net position - asset / (liability) $ — $ (324)

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Common Share, Basic and Diluted	The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Numerator Net loss $ (34,245) $ (15,160) $ (120,223) $ (43,447) Denominator Basic and diluted weighted average common shares (1) 225,853 225,052 225,855 224,854 Loss per common share: Basic and diluted $ (0.15) $ (0.07) $ (0.53) $ (0.19) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 707 705 955 826

Severance and Other Charges, _2

Severance and Other Charges, net (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Summary of Severance and Other Charges, net	Our severance and other charges, net are summarized below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Severance and other costs $ 4,794 $ 593 $ 5,332 $ 982 Fixed asset impairments and retirements — — 15,479 66 Inventory write-offs 368 222 368 222 Intangible asset impairments — — 4,708 — $ 5,162 $ 815 $ 25,887 $ 1,270
Reconciliation of Employee Separation Liability	Below is a reconciliation of our employee separation liability balance (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Balance at December 31, 2019 $ 2,000 $ 19 $ 1,632 $ 2,186 $ 5,837 Additions for costs expensed 3,456 15 675 1,186 5,332 Severance and other payments (4,078) (13) (1,383) (1,375) (6,849) Other adjustments (8) — 22 (348) (334) Balance at June 30, 2020 $ 1,370 $ 21 $ 946 $ 1,649 $ 3,986

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Disaggregation of Revenue	The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands): Three Months Ended June 30, 2020 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 18,874 $ 4,990 $ 7,284 $ 31,148 International 43,453 3,751 7,749 54,953 Total Revenue $ 62,327 $ 8,741 $ 15,033 $ 86,101 Three Months Ended June 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 41,408 $ 18,387 $ 21,341 $ 81,136 International 65,207 3,947 5,364 74,518 Total Revenue $ 106,615 $ 22,334 $ 26,705 $ 155,654 Six Months Ended June 30, 2020 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 49,043 $ 14,787 $ 20,815 $ 84,645 International 102,781 6,496 15,671 124,948 Total Revenue $ 151,824 $ 21,283 $ 36,486 $ 209,593 Six Months Ended June 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 79,563 $ 35,015 $ 42,919 $ 157,497 International 125,131 5,976 11,458 142,565 Total Revenue $ 204,694 $ 40,991 $ 54,377 $ 300,062 Revenue by geographic area were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 United States $ 31,148 $ 81,136 $ 84,645 $ 157,497 Europe/Middle East/Africa 21,886 38,655 57,320 75,055 Latin America 20,077 19,895 41,002 37,339 Asia Pacific 8,734 10,077 18,303 18,026 Other countries 4,256 5,891 8,323 12,145 Total Revenue $ 86,101 $ 155,654 $ 209,593 $ 300,062
Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated	The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Segment Adjusted EBITDA: Tubular Running Services $ 4,049 $ 25,400 $ 17,354 $ 43,135 Tubulars 681 3,934 2,077 8,046 Cementing Equipment 886 3,029 3,430 6,823 Corporate (1) (7,308) (15,200) (17,494) (31,183) (1,692) 17,163 5,367 26,821 Goodwill impairment — — (57,146) — Severance and other charges, net (5,162) (815) (25,887) (1,270) Interest income, net 178 426 711 1,194 Depreciation and amortization (17,252) (23,913) (36,970) (49,155) Income tax (expense) benefit (8,986) (3,300) 6,577 (13,073) Gain (loss) on disposal of assets 650 (154) 590 (381) Foreign currency gain (loss) 1,693 (661) (8,199) (178) TRA related adjustments — 220 — 220 Charges and credits (2) (3,674) (4,126) (5,266) (7,625) Net loss $ (34,245) $ (15,160) $ (120,223) $ (43,447) (1) Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives. (2) Comprised of Equity-based compensation expense (for the three months ended June 30, 2020 and 2019: $3,515 and $3,017, respectively, and for the six months ended June 30, 2020 and 2019: $5,661 and $5,591, respectively), Unrealized and realized gains (losses) (for the three months ended June 30, 2020 and 2019: $(111) and $383, respectively, and for the six months ended June 30, 2020 and 2019: $1,593 and $691, respectively) and Investigation-related matters (for the three months ended June 30, 2020 and 2019: $48 and $1,492, respectively, and for the six months ended June 30, 2020 and 2019: $1,198 and $2,725, respectively).
Schedule of Financial Information, by Reportable Segments	The following tables set forth certain financial information with respect to our reportable segments (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Three Months Ended June 30, 2020 Revenue from external customers $ 62,327 $ 8,741 $ 15,033 $ — $ 86,101 Operating income (loss) (13,252) (184) (2,486) (11,364) (27,286) Adjusted EBITDA 4,049 681 886 (7,308) * Three Months Ended June 30, 2019 Revenue from external customers $ 106,615 $ 22,334 $ 26,705 $ — $ 155,654 Operating income (loss) 8,700 3,089 (2,310) (21,993) (12,514) Adjusted EBITDA 25,400 3,934 3,029 (15,200) * Six Months Ended June 30, 2020 Revenue from external customers $ 151,824 $ 21,283 $ 36,486 $ — $ 209,593 Operating income (loss) (14,567) 467 (79,984) (27,410) (121,494) Adjusted EBITDA 17,354 2,077 3,430 (17,494) * Six Months Ended June 30, 2019 Revenue from external customers $ 204,694 $ 40,991 $ 54,377 $ — $ 300,062 Operating income (loss) 8,841 6,283 (3,134) (44,798) (32,808) Adjusted EBITDA 43,135 8,046 6,823 (31,183) *

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 192,921	$ 195,383
Restricted cash	1,358	1,357
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 194,279	$ 196,740	$ 158,455	$ 186,212

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash and Cash Equivalents [Abstract]
Income taxes paid, net of refunds	$ 8.6	$ 4.4

Accounts Receivable, net (Detai

Accounts Receivable, net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Trade accounts receivable, net of allowance for credit losses of $7,333 and $5,129, respectively	$ 78,082	$ 101,718
Allowance for credit losses	7,333	5,129
Unbilled receivables	26,121	43,422
Taxes receivable	29,239	18,516
Affiliated	549	549
Other receivables	3,077	2,489
Total accounts receivable, net	$ 137,068	$ 166,694

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Pipe and connectors, net of allowance of $17,823 and $18,287, respectively	$ 22,551	$ 21,779
Finished goods, net of allowance of $128 and $485, respectively	22,586	25,628
Work in progress	4,929	3,663
Raw materials, components and supplies	29,791	27,759
Total inventories, net	79,857	78,829
Pipe and Connectors
Inventory [Line Items]
Allowance	17,823	18,287
Finished Goods
Inventory [Line Items]
Allowance	$ 128	$ 485

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,193,873	$ 1,204,067
Less: Accumulated depreciation	(896,079)	(875,635)
Total property, plant and equipment, net	297,794	328,432
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,744	30,724
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,169	7,193
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 114,314	116,182
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	13 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	39 years
Rental machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 883,108	882,979
Rental machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Rental machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Machinery and equipment - other
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Property, plant and equipment, gross	$ 56,992	60,182
Furniture, fixtures and computers
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 16,988	17,251
Automobiles and other vehicles
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 28,044	28,734
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,408	14,258
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Construction in progress - machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 44,106	$ 46,564

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Impairment of assets held-for-use	$ 0	$ 0	$ 15,500,000	$ 0
Proceeds from sale of building classified as held for sale			$ 6,565,000	$ 260,000
Buildings and improvements
Property, Plant and Equipment [Line Items]
Proceeds from sale of building classified as held for sale	5,400,000	$ 200,000
Gain on sale of building classified as held for sale	$ 600,000

Property, Plant and Equipment_3

Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 17,252	$ 23,913	$ 36,970	$ 49,155
Services
Property, Plant and Equipment [Line Items]
Depreciation and amortization	15,771	20,907	33,034	42,412
Products
Property, Plant and Equipment [Line Items]
Depreciation and amortization	184	425	423	859
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 1,297	$ 2,581	$ 3,513	$ 5,884

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill [Line Items]
Goodwill impairment	$ 0	$ 57,100,000	$ 0	$ 57,146,000	$ 0
Impact of 50 basis points adverse change in discount rate	4,300,000			4,300,000
Goodwill	42,785,000			42,785,000		$ 99,932,000
Amortization expense for intangible assets	900,000		2,800,000	2,600,000	5,700,000
Intangible asset impairments	0		$ 0	4,708,000	$ 0
Cementing Equipment
Goodwill [Line Items]
Goodwill	24,100,000			24,100,000
Tubular Running Services
Goodwill [Line Items]
Goodwill	$ 18,700,000			$ 18,700,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 42,160	$ 46,919
Accumulated Amortization	(32,517)	(29,948)
Total	9,643	16,971
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,300	32,890
Accumulated Amortization	(25,552)	(23,946)
Total	2,748	8,944
Intellectual Property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	13,860	14,029
Accumulated Amortization	(6,965)	(6,002)
Total	$ 6,895	$ 8,027

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash surrender value of life insurance policies	$ 24,191	$ 27,313
Deposits	2,227	2,119
Other	3,095	3,805
Total other assets	$ 29,513	$ 33,237

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 19,086	$ 16,793
Accrued compensation	19,182	23,988
Accrued property and other taxes	20,163	20,099
Accrued severance and other charges	3,986	5,837
Income taxes	15,851	19,166
Affiliated	2,224	1,694
Accrued purchase orders and other	23,530	32,744
Total accounts payable and accrued liabilities	$ 104,022	$ 120,321

Debt (Details)

Debt (Details) - ABL Credit Facility	Nov. 05, 2018USD ($)	Jun. 30, 2020USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Covenant, consolidated EBITDA, minimum	1
Covenant, minimum fixed charges amount	$ 12,500,000
Covenant, minimum fixed charges percentage	15.00%
Revolving Credit Facility | Secured Debt
Line of Credit Facility [Line Items]
Expiration period	5 years
Maximum borrowing capacity	$ 100,000,000
Maximum additional borrowing capacity	$ 200,000,000
Federal funds effective rate	0.00%
Basis spread on variable rate	0.50%
Outstanding indebtedness		$ 0
Available borrowing capacity		25,100,000
Revolving Credit Facility | Secured Debt | Minimum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.25%
Revolving Credit Facility | Secured Debt | Maximum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.375%
Revolving Credit Facility | Secured Debt | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Secured Debt | Alternate Base Rate | Minimum
Line of Credit Facility [Line Items]
Additional basis spread on variable rate	1.00%
Revolving Credit Facility | Secured Debt | Alternate Base Rate | Maximum
Line of Credit Facility [Line Items]
Additional basis spread on variable rate	1.50%
Revolving Credit Facility | Secured Debt | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Revolving Credit Facility | Secured Debt | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility | Lines of credit
Line of Credit Facility [Line Items]
Letters of credit, amount outstanding		$ 9,200,000
Letter of Credit | Secured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 15,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	$ 24,191	$ 27,313
Marketable securities - other	3	8
Liabilities:
Derivative financial instruments		324
Deferred compensation plan
Liabilities:
Deferred compensation plan	20,385	23,251
Quoted Prices in Active Markets (Level 1)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Marketable securities - other	3	8
Liabilities:
Derivative financial instruments		0
Quoted Prices in Active Markets (Level 1) | Deferred compensation plan
Liabilities:
Deferred compensation plan	0	0
Significant Other Observable Inputs (Level 2)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	24,191	27,313
Marketable securities - other	0	0
Liabilities:
Derivative financial instruments		324
Significant Other Observable Inputs (Level 2) | Deferred compensation plan
Liabilities:
Deferred compensation plan	20,385	23,251
Significant Unobservable Inputs (Level 3)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Marketable securities - other	0	0
Liabilities:
Derivative financial instruments		0
Significant Unobservable Inputs (Level 3) | Deferred compensation plan
Liabilities:
Deferred compensation plan	$ 0	$ 0

Derivatives - Foreign Currency

Derivatives - Foreign Currency Derivative Contracts Outstanding (Details) - Not Designated as Hedging Instrument - Foreign currency contracts $ in Thousands	Dec. 31, 2019USD ($)$ / £$ / $$ / €$ / kr
Canadian dollar
Derivative [Line Items]
Notional Amount	$ 948
Contractual Exchange Rate | $ / $	1.3182
Euro
Derivative [Line Items]
Notional Amount	$ 9,279
Contractual Exchange Rate | $ / €	1.1180
Norwegian krone
Derivative [Line Items]
Notional Amount	$ 11,027
Contractual Exchange Rate | $ / kr	9.0688
Pound sterling
Derivative [Line Items]
Notional Amount	$ 16,057
Contractual Exchange Rate | $ / £	1.3381

Derivatives - Impact of Derivat

Derivatives - Impact of Derivative Contracts on Condensed Consolidated Balance Sheets (Details) $ in Thousands	Dec. 31, 2019USD ($)
Derivative [Line Items]
Derivative liabilities	$ (324)
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liabilities	$ (324)

Derivatives - Impact of Deriv_2

Derivatives - Impact of Derivatives Contracts on Condensed Consolidated Statements of Operations (Details) - Other income, net - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Unrealized loss on foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	$ 0	$ (700)	$ 0	$ (204)
Realized gain (loss) on foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	0	1,072	1,475	412
Foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	$ 0	$ 372	$ 1,475	$ 208

Derivatives - Gross and Net Fai

Derivatives - Gross and Net Fair Value of Derivatives (Details) $ in Thousands	Dec. 31, 2019USD ($)
Derivative Asset Positions
Gross position - asset / (liability)	$ 127
Netting adjustment	(127)
Net position - asset / (liability)	0
Derivative Liability Positions
Gross position - asset / (liability)	(451)
Netting adjustment	127
Net position - asset / (liability)	$ (324)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	Aug. 26, 2016	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Operating lease right-of-use assets		$ 29,594		$ 29,594		$ 32,585
Estimated termination payment, tax receivable agreement		$ 57,400		$ 57,400
Discount rate, tax receivable agreement liability		4.18%		4.18%
Affiliated Entity
Related Party Transaction [Line Items]
Rent expense		$ 700	$ 700	$ 1,400	$ 1,400
Operating lease right-of-use assets		5,300		5,300
Operating lease liabilities		$ 6,000		$ 6,000
Affiliated Entity | Mosing Holdings
Related Party Transaction [Line Items]
Percentage of tax benefits realized payable, tax receivable agreement	85.00%
Percentage retained under tax receivable agreement	15.00%
Cumulative deficit, period, tax receivable agreement				36 months
Long-Term Treasury Rate | Affiliated Entity | Mosing Holdings
Related Party Transaction [Line Items]
Basis spread on variable rate, tax receivable agreement	3.00%

Loss Per Common Share (Details)

Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator
Net loss	$ (34,245)	$ (85,978)	$ (15,160)	$ (28,287)	$ (120,223)	$ (43,447)
Denominator
Basic and diluted weighted average common shares (in shares)	225,853		225,052		225,855	224,854
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.15)		$ (0.07)		$ (0.53)	$ (0.19)
Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position (in shares)	707		705		955	826

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	(35.60%)	(27.80%)	5.20%	(43.00%)
Unusual or Infrequent Item, or Both [Line Items]
Income tax refunds receivable	$ 29,239		$ 29,239		$ 18,516
Natural Disasters and Other Casualty Events
Unusual or Infrequent Item, or Both [Line Items]
Income tax refunds receivable	$ 17,500		$ 17,500

Severance and Other Charges, _3

Severance and Other Charges, net - Summary of Severance and Other Charges (Credits), net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Severance and other costs	$ 4,794,000	$ 593,000	$ 5,332,000	$ 982,000
Fixed asset impairments and retirements	0	0	15,479,000	66,000
Inventory write-offs	368,000	222,000	368,000	222,000
Intangible asset impairments	0	0	4,708,000	0
Severance and other charges, net	$ 5,162,000	$ 815,000	$ 25,887,000	$ 1,270,000

Severance and Other Charges, _4

Severance and Other Charges, net - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Restructuring and Related Activities [Abstract]
Outstanding liability on severance and other costs	$ 3,986,000		$ 3,986,000		$ 5,837,000
Impairment of assets held for sale				$ 100,000
Impairment of assets held-for-use	0	$ 0	15,500,000	0
Inventory write-offs	368,000	222,000	368,000	222,000
Intangible asset impairments	$ 0	$ 0	$ 4,708,000	$ 0

Severance and Other Charges, _5

Severance and Other Charges, net - Employee Separation Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Reserve [Roll Forward]
Balance at December 31, 2019			$ 5,837
Additions for costs expensed	$ 4,794	$ 593	5,332	$ 982
Severance and other payments			(6,849)
Other adjustments			(334)
Balance at June 30, 2020	3,986		3,986
Corporate
Restructuring Reserve [Roll Forward]
Balance at December 31, 2019			2,186
Additions for costs expensed			1,186
Severance and other payments			(1,375)
Other adjustments			(348)
Balance at June 30, 2020	1,649		1,649
Tubular Running Services | Operating Segments
Restructuring Reserve [Roll Forward]
Balance at December 31, 2019			2,000
Additions for costs expensed			3,456
Severance and other payments			(4,078)
Other adjustments			(8)
Balance at June 30, 2020	1,370		1,370
Tubulars | Operating Segments
Restructuring Reserve [Roll Forward]
Balance at December 31, 2019			19
Additions for costs expensed			15
Severance and other payments			(13)
Other adjustments			0
Balance at June 30, 2020	21		21
Cementing Equipment | Operating Segments
Restructuring Reserve [Roll Forward]
Balance at December 31, 2019			1,632
Additions for costs expensed			675
Severance and other payments			(1,383)
Other adjustments			22
Balance at June 30, 2020	$ 946		$ 946

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020continentcountrysegmentft
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Maximum
Segment Reporting Information [Line Items]
Length of tubular assemblies (in feet) | ft	400
Tubular Running Services
Segment Reporting Information [Line Items]
Number of countries in which entity operates | country	50
Number of continents in which entity operates | continent	6

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue by Revenue Source and Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 86,101	$ 155,654	$ 209,593	$ 300,062
United States
Disaggregation of Revenue [Line Items]
Revenue	31,148	81,136	84,645	157,497
International
Disaggregation of Revenue [Line Items]
Revenue	54,953	74,518	124,948	142,565
Europe/Middle East/Africa
Disaggregation of Revenue [Line Items]
Revenue	21,886	38,655	57,320	75,055
Latin America
Disaggregation of Revenue [Line Items]
Revenue	20,077	19,895	41,002	37,339
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	8,734	10,077	18,303	18,026
Other countries
Disaggregation of Revenue [Line Items]
Revenue	4,256	5,891	8,323	12,145
Tubular Running Services
Disaggregation of Revenue [Line Items]
Revenue	62,327	106,615	151,824	204,694
Tubular Running Services | United States
Disaggregation of Revenue [Line Items]
Revenue	18,874	41,408	49,043	79,563
Tubular Running Services | International
Disaggregation of Revenue [Line Items]
Revenue	43,453	65,207	102,781	125,131
Tubulars
Disaggregation of Revenue [Line Items]
Revenue	8,741	22,334	21,283	40,991
Tubulars | United States
Disaggregation of Revenue [Line Items]
Revenue	4,990	18,387	14,787	35,015
Tubulars | International
Disaggregation of Revenue [Line Items]
Revenue	3,751	3,947	6,496	5,976
Cementing Equipment
Disaggregation of Revenue [Line Items]
Revenue	15,033	26,705	36,486	54,377
Cementing Equipment | United States
Disaggregation of Revenue [Line Items]
Revenue	7,284	21,341	20,815	42,919
Cementing Equipment | International
Disaggregation of Revenue [Line Items]
Revenue	$ 7,749	$ 5,364	$ 15,671	$ 11,458

Segment Information - Reconcili

Segment Information - Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	$ (1,692,000)		$ 17,163,000		$ 5,367,000	$ 26,821,000
Goodwill impairment	0	$ (57,100,000)	0		(57,146,000)	0
Severance and other charges, net	(5,162,000)		(815,000)		(25,887,000)	(1,270,000)
Interest income, net	178,000		426,000		711,000	1,194,000
Depreciation and amortization	(17,252,000)		(23,913,000)		(36,970,000)	(49,155,000)
Income tax (expense) benefit	(8,986,000)		(3,300,000)		6,577,000	(13,073,000)
Gain (loss) on disposal of assets	650,000		(154,000)		590,000	(381,000)
Foreign currency gain (loss)	1,693,000		(661,000)		(8,199,000)	(178,000)
Tax receivable agreement related adjustments	0		220,000		0	220,000
Charges and credits	(3,674,000)		(4,126,000)		(5,266,000)	(7,625,000)
Net loss	(34,245,000)	$ (85,978,000)	(15,160,000)	$ (28,287,000)	(120,223,000)	(43,447,000)
Equity-based compensation expense	3,515,000		3,017,000		5,661,000	5,591,000
Unrealized and realized gains (losses)	(111,000)		383,000		1,593,000	691,000
Investigation-related matters	48,000		1,492,000		1,198,000	2,725,000
Operating Segments | Tubular Running Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	4,049,000		25,400,000		17,354,000	43,135,000
Operating Segments | Tubulars
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	681,000		3,934,000		2,077,000	8,046,000
Operating Segments | Cementing Equipment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	886,000		3,029,000		3,430,000	6,823,000
Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	$ (7,308,000)		$ (15,200,000)		$ (17,494,000)	$ (31,183,000)

Segment Information - Financial

Segment Information - Financial Information with Respect to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue from External Customer [Line Items]
Revenue from external customers	$ 86,101	$ 155,654	$ 209,593	$ 300,062
Operating income (loss)	(27,286)	(12,514)	(121,494)	(32,808)
Adjusted EBITDA	(1,692)	17,163	5,367	26,821
Tubular Running Services
Revenue from External Customer [Line Items]
Revenue from external customers	62,327	106,615	151,824	204,694
Tubulars
Revenue from External Customer [Line Items]
Revenue from external customers	8,741	22,334	21,283	40,991
Cementing Equipment
Revenue from External Customer [Line Items]
Revenue from external customers	15,033	26,705	36,486	54,377
Operating Segments | Tubular Running Services
Revenue from External Customer [Line Items]
Revenue from external customers	62,327	106,615	151,824	204,694
Operating income (loss)	(13,252)	8,700	(14,567)	8,841
Adjusted EBITDA	4,049	25,400	17,354	43,135
Operating Segments | Tubulars
Revenue from External Customer [Line Items]
Revenue from external customers	8,741	22,334	21,283	40,991
Operating income (loss)	(184)	3,089	467	6,283
Adjusted EBITDA	681	3,934	2,077	8,046
Operating Segments | Cementing Equipment
Revenue from External Customer [Line Items]
Revenue from external customers	15,033	26,705	36,486	54,377
Operating income (loss)	(2,486)	(2,310)	(79,984)	(3,134)
Adjusted EBITDA	886	3,029	3,430	6,823
Corporate
Revenue from External Customer [Line Items]
Revenue from external customers	0	0	0	0
Operating income (loss)	(11,364)	(21,993)	(27,410)	(44,798)
Adjusted EBITDA	$ (7,308)	$ (15,200)	$ (17,494)	$ (31,183)