KLX Energy Services (KLXE) 10-Q 6 Dec 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 31, 2018	Dec. 03, 2018
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Current Reporting Status	Yes
Entity Registrant Name	KLX Energy Services Holdings, Inc.
Entity Central Index Key	1,738,827
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,362,241

CONDENSED BALANCE SHEETS (UNAUD

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Oct. 31, 2018	Jan. 31, 2018
Current assets:
Cash and cash equivalents	$ 313.2	$ 0
Accounts receivable–trade, less allowance for doubtful accounts ($2.2 at October 31, 2018 and $2.3 at January 31, 2018)	87.4	73.9
Inventories, net	13.8	10.2
Other current assets	8.8	2
Total current assets	423.2	86.1
Property and equipment, net of accumulated depreciation ($148.4 at July 31, 2018 and $128.9 at January 31, 2018)	206.3	179.5
Identifiable intangible assets, net	2.7	2.8
Other assets	9	5.4
Total assets	641.2	273.8
Current liabilities:
Accounts payable	40.4	31.8
Accrued liabilities	28.1	16.2
Total current liabilities	68.5	48
Long-term debt	243
Other non-current liabilities	1.4	1.2
Commitments, contingencies and off-balance sheet arrangements (Note 8)
Parent company equity:
Common stock, $0.01 par value; 110.0 million shares authorized; 22.3 million shares issued as of October 31, 2018 and 22.1 shares issued as of January 31, 2018	0.2
Additional paid-in capital	337.5
Former Parent investment		1,025.8
Accumulated deficit	(9.4)	(801.2)
Total Parent company equity	328.3	224.6
Total liabilities and equity	$ 641.2	$ 273.8

CONDENSED BALANCE SHEETS (UNA_2

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	Oct. 31, 2018	Jan. 31, 2018
CONDENSED BALANCE SHEETS (UNAUDITED)
Accounts receivable - trade, allowance for doubtful accounts	$ 2.2	$ 2.3
Property and equipment, accumulated depreciation	$ 148.4	$ 128.9
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	110	110
Common stock, shares issued	22.3	22.1

CONDENSED STATEMENTS OF (LOSS)

CONDENSED STATEMENTS OF (LOSS) EARNINGS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
CONDENSED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED)
Service revenues	$ 123.2	$ 89.2	$ 351.4	$ 226.2
Cost of sales	90.2	72.8	257.9	192.4
Selling, general and administrative	42.3	17.4	82	52.2
Research and development costs	0.6	0.8	1.9	1.6
Operating earnings (loss)	(9.9)	(1.8)	9.6	(20)
Income tax expense	0		0.1	0.1
Net (loss) earnings	$ (9.9)	$ (1.8)	$ 9.5	$ (20.1)
Net (loss) earnings per share - basic	$ (0.49)	$ (0.09)	$ 0.47	$ (1)
Net (loss) earnings per share - diluted	$ (0.49)	$ (0.09)	$ 0.47	$ (1)
Weighted average common shares - basic	20.1	20.1	20.1	20.1
Weighted average common shares - diluted	20.1	20.1	20.2	20.1

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ 9.5	$ (20.1)
Adjustments to reconcile net earnings (loss) to net cash flows provided by (used in) operating activities:
Depreciation and amortization	28.3	25.1
Non-cash compensation	19.2	8.6
Provision for doubtful accounts	(0.1)	(0.4)
Loss on disposal of property, equipment and other	1.7	0.4
Changes in operating assets and liabilities:
Accounts receivable	(13.4)	(37.7)
Inventories	(3.6)	0.3
Other current and non-current assets	(9.3)	(7.5)
Accounts payable	7.1	12
Other current and non-current liabilities	12.2	6.1
Net cash flows provided by (used in) operating activities	51.6	(13.2)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(55)	(33.7)
Net cash flows used in investing activities	(55)	(33.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt	250
Debt origination costs	(8.3)
Capital contribution from Former Parent	50
Net transfers from Former Parent	24.9	46.9
Net cash flows provided by financing activities	316.6	46.9
Net change in cash and cash equivalents	313.2	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	313.2	0
Supplemental schedule of non-cash activities:
Accrued capital expenditures	$ 6.3	$ 1.1

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Oct. 31, 2018
Description of Business and Basis of Presentation
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business On September 14, 2018, KLX Inc. (the “Former Parent” or “KLX”) created an independent, publicly-traded company through a spin-off of its Energy Services Group business to Former Parent’s stockholders (“Spin-Off”). As a result of the Spin-Off, KLX Energy Services Holdings, Inc. (the “Company” or “KLX Energy Services”) now operates as an independent, publicly-traded company. Basic and diluted earnings per common share and the average number of common shares outstanding were calculated using the number of KLX Energy Services common shares outstanding immediately following the Spin-Off. The Company is a provider of completion, intervention and production services and products to the major onshore oil and gas producing regions of the United States. Basis of Presentation Prior to the Spin-Off on September 14, 2018, the Company’s unaudited condensed financial statements were derived from the Former Parent’s condensed consolidated financial statements and accounting records as if it was operated on a stand-alone basis and were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany transactions and account balances within the Company have been eliminated. The condensed statements of (loss) earnings reflect allocations of general corporate expenses from the Former Parent, including, but not limited to, executive management, finance, legal, information technology, human resources, employee benefits administration, treasury, risk management, procurement and other shared services. The allocations were made on a direct usage basis when identifiable, with the remainder allocated on the basis of revenues generated, costs incurred, headcount or other measures. Management of the Company considers these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, reflect the expense the Company would have incurred as a stand-alone company for the periods presented. Actual costs that may have been incurred if the Company had been a stand-alone company would depend on a number of factors, including the chosen organizational structure, what functions were outsourced or performed by employees and strategic decisions made in areas such as information technology and infrastructure. Former Parent Company Investment – Former Parent company investment in the condensed balance sheet as of January 31, 2018 represents Former Parent’s historical investment in the Company, the net effect of cost allocations from transactions with Former Parent and net transfers of cash and assets from Former Parent. See Note 4 for a further description of the transactions between the Company and Former Parent. Financial Statement Preparation – The accompanying unaudited condensed financial statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or for any future period.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Oct. 31, 2018
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 2. Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-09, Compensation—Stock Compensation (Topic 718). This ASU was issued to provide clarity and reduce diversity in practice regarding the application of guidance on the modification of equity awards. The ASU states that an entity should account for the effects of a modification unless all of the following are met: the fair value, vesting conditions and the classification of the instrument as equity or liability of the modified award is the same as that of the original award immediately before such award is modified. The guidance became effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual reporting periods. The adoption of ASU 2017-09 did not have a material impact on the Company’s condensed financial statements as the Company historically has accounted for all modifications in accordance with Topic 718 and has not been subject to the exception described under this ASU. In January 2017, the FASB issued ASU 2017-01, Business Combinations. This update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of ASU 2017-01 is not expected to have a material impact on the Company’s condensed financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments related to how certain cash receipts and payments are presented and classified in the statement of cash flows. These cash flow issues include debt prepayment or extinguishment costs, settlement of zero-coupon debt, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, with early adoption permitted, and should be applied retrospectively. The Company does not expect a material impact upon adoption of this ASU to its condensed financial statements as the Company’s condensed statements of cash flows are not impacted by the eight issues listed above. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC Topic 718, Compensation—Stock Compensation. The ASU includes multiple provisions intended to simplify various aspects of the accounting for share-based payments, including that excess tax benefits and shortfalls be recorded as income tax benefit or expense in the statement of earnings, rather than equity, and requires excess tax benefits from stock-based compensation to be classified in cash flows from operations. The guidance is effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company does not expect a material impact upon adoption of this ASU to its condensed financial statements. In February 2016, the FASB issued ASU 2016-02, Leases, which supersedes ASC Topic 840, Leases, and creates a new topic, ASC Topic 842, Leases. This update is effective for fiscal years beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. Earlier adoption is permitted. ASU 2016-02 requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. ASU 2016-02 will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the effect of this update on its condensed financial statements. In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers, which updated the guidance in ASC Topic 606, Revenue Recognition. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should identify the contract(s) with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when (or as) the entity satisfies a performance obligation. In August 2015, the FASB deferred the effective date for implementation of ASU 2014-09 by one year and during 2016, the FASB issued various related accounting standard updates, which clarified revenue accounting principles and provided supplemental adoption guidance. The guidance under ASU 2014-09 is effective for fiscal years beginning after December 15, 2018, and interim periods within annual reporting periods beginning after December 15, 2019. To assess the impact of this guidance, the Company has established a cross functional implementation project team, inventoried its revenue streams and contracts with customers and applied the principles of the guidance against a selection of contracts to assist in the determination of potential revenue accounting differences. Based on its preliminary assessment, the Company may be required to provide additional disclosures to comply with the ASU but does not expect significant changes to its balance sheet or prior period statements of (loss) earnings.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Oct. 31, 2018
Property and Equipment, Net
Property and Equipment, Net	Note 3. Property and Equipment, Net Property and equipment consist of the following: Useful October 31, January 31, Life (Years) 2018 2018 Land, buildings and improvements 3 - 30 $ 33.7 $ 29.6 Machinery 5 - 20 138.7 125.6 Furniture and equipment 5 182.3 153.2 354.7 308.4 Less accumulated depreciation 148.4 128.9 $ 206.3 $ 179.5 Depreciation expense was $10.0 and $8.1 for the three months ended October 31, 2018 and 2017, respectively, and $28.1 and $24.9 for the nine months ended October 31, 2018 and 2017, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Oct. 31, 2018
Related Party Transactions
Related Party Transactions	Note 4. Related Party Transactions The condensed statements of (loss) earnings for the three and nine months ended October 31, 2018 and 2017 include an allocation of general corporate expenses from KLX. These costs were allocated to the Company on a systematic and reasonable basis utilizing a direct usage basis when identifiable, with the remainder allocated on the basis of revenue generated, costs incurred, headcount or other measures. Allocations for general corporate expenses, including management costs and corporate support services provided to the Company, totaled $3.2 and $4.8 for the three months ended October 31, 2018 up through the date of the Spin-Off and October 31, 2017, respectively, and $16.6 and $13.4 for the nine months ended October 31, 2018 up through the date of the Spin-Off and 2017, respectively, and were reported in the Company’s selling, general and administrative expenses on its condensed statements of (loss) earnings. These amounts include costs for allocations related to Former Parent’s strategic alternatives review process in the first quarter of 2018, the Company’s Spin-Off process in the second and third quarters of 2018 as well as for functions including executive management, finance, legal, information technology, human resources, employee benefits administration, treasury, risk management, procurement and other shared services. In connection with the consummation of the Spin-Off, KLX Energy Services entered into a number of agreements with KLX, including a transition services agreement, distribution agreement, an employee matters agreement and an IP matters agreement. These agreements govern the relationship between us and KLX and provide for the allocation between us and KLX of various assets, liabilities and obligations (including employee benefits, information technology and insurance). All services under the transition services agreement with Former Parent were terminated prior to October 31, 2018, and amounts under such agreement were not material for the three and nine months ended October 31, 2018.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Oct. 31, 2018
Accrued Liabilities
Accrued Liabilities	Note 5. Accrued Liabilities Accrued liabilities consist of the following: October 31, January 31, 2018 2018 Accrued salaries, vacation and related benefits $ 13.3 $ 6.8 Accrued incentive compensation 5.8 6.3 Accrued property taxes 2.3 1.1 Other accrued liabilities 6.7 2.0 $ 28.1 $ 16.2

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 31, 2018
Long-Term Debt
Long-Term Debt	Note 6. Long-Term Debt As of October 31, 2018, long-term debt consisted of $250.0 principal amount of 11.5% senior secured notes due 2025 (the “Notes”) offered pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. On a net basis, after taking into consideration the debt issue costs for the Notes, total debt was $243.0. As of October 31, 2018, the Company also had a $100.0 asset-based revolving credit facility pursuant to a senior secured credit agreement dated August 10, 2018 (the “ABL Facility”). The ABL Facility became effective on September 14, 2018, the date of the Spin-Off, and matures in September 2023. On October 22, 2018, we amended the ABL Facility primarily to permit the Company to issue the Notes and acquire Motley Services, LLC (“Motley”) and also amended the required ratio (as defined in the ABL Facility). Borrowings under the ABL Facility bear interest at a rate equal to the London interbank offered rate (as defined in the ABL Facility) plus the applicable margin (as defined). No amounts were outstanding under the ABL Facility as of October 31, 2018. The ABL Facility is tied to a borrowing base formula and has no maintenance financial covenants. The ABL Facility is secured by, among other things, a first priority lien on our accounts receivable and inventory and contains customary conditions precedent to borrowing and affirmative and negative covenants, all of which were met as of October 31, 2018. Letters of credit issued under the ABL Facility aggregated $0.8 at October 31, 2018.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 31, 2018
Fair Value Measurements
Fair Value Information	Note 7. Fair Value Information All financial instruments are carried at amounts that approximate estimated fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations. Level 1 – quoted prices in active markets for identical assets and liabilities. Level 2 – quoted prices for identical assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 – unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. The carrying amounts of cash and cash equivalents, accounts receivable-trade and accounts payable represent their respective fair values due to their short-term nature. There was no debt outstanding under the ABL Facility as of October 31, 2018. The fair value of the Company’s Notes, based on market prices for publicly-traded debt (which the Company classifies as Level 2 inputs), was $251.9 as of October 31, 2018.

Commitments, Contingencies and

Commitments, Contingencies and Off-Balance Sheet Arrangements	9 Months Ended
	Oct. 31, 2018
Commitments, Contingencies and Off-Balance Sheet Arrangements
Commitments, Contingencies and Off-Balance-Sheet Arrangements	Note 8. Commitments, Contingencies and Off-Balance-Sheet Arrangements Lease Commitments – The Company finances its use of certain facilities and equipment under committed lease arrangements provided by various institutions. Since the terms of these arrangements meet the accounting definition of operating lease arrangements, the aggregate sum of future minimum lease payments is not reflected on the condensed balance sheets. At October 31, 2018, future minimum lease payments under these arrangements approximated $50.7, of which $23.8 is related to long-term real estate leases. Litigation – The Company is a defendant in various legal actions arising in the normal course of business, the outcomes of which, in the opinion of management, neither individually nor in the aggregate are likely to result in a material adverse effect on the Company’s condensed financial statements. Indemnities, Commitments and Guarantees – During its normal course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease and indemnities to other parties to certain acquisition agreements. The duration of these indemnities, commitments and guarantees varies, and in certain cases, is indefinite. Many of these indemnities, commitments and guarantees provide for limitations on the maximum potential future payments the Company could be obligated to make. However, the Company is unable to estimate the maximum amount of liability related to its indemnities, commitments and guarantees because such liabilities are contingent upon the occurrence of events that are not reasonably determinable. Management believes that any liability for these indemnities, commitments and guarantees would not be material to the accompanying condensed financial statements. Accordingly, no significant amounts have been accrued for indemnities, commitments and guarantees. The Company has employment agreements with certain key members of management expiring on various dates. The Company’s employment agreements generally provide for certain protections in the event of a change of control. These protections generally include the payment of severance and related benefits under certain circumstances in the event of a change of control. Pursuant to the distribution agreement, the Company will indemnify KLX to the extent that KLX determines that it has recognized any gain on the distribution, as calculated in the manner described in the distribution agreement. Management does not expect to be required to indemnify KLX as preliminary calculations, which will be finalized at January 31, 2019, resulting in no gain being recognized.

Accounting for Stock-Based Comp

Accounting for Stock-Based Compensation	9 Months Ended
	Oct. 31, 2018
Accounting for Stock-Based Compensation
Accounting for Stock-Based Compensation	Note 9. Accounting for Stock-Based Compensation The Company has a Long-Term Incentive Plan (“LTIP”) under which its Compensation Committee has the authority to grant stock options, stock appreciation rights, restricted stock, restricted stock units or other forms of equity based or equity related awards. Compensation cost is generally recorded on a straight-line basis over the vesting term of the shares based on the grant date value using the closing trading price. Compensation cost recognized during the three and nine months ended October 31, 2018 and 2017 primarily related to grants of restricted stock and restricted stock units granted or approved by our Former Parent. The vesting of all unvested shares of restricted stock was accelerated upon the sale of our Former Parent to the Boeing Company on October 9, 2018, resulting in approximately $10.7 of share based compensation expense during the three months ended October 31, 2018. As a result, share based compensation was $14.1 and $2.8 for the three months ended October 31, 2018 and 2017, respectively, and $19.2 and $8.6 for the nine months ended October 31, 2018 and 2017, respectively. Unrecognized compensation cost related to restricted stock awards made during the current quarter to three key executives and the Company’s Board of Directors in lieu of cash compensation was $61.9 at October 31, 2018. The Company has established a qualified Employee Stock Purchase Plan, the terms of which allow for qualified employees (as defined in the Plan) to participate in the purchase of designated shares of the Company’s common stock at a price equal to 85% of the closing price on the last business day of each semi-annual stock purchase period. The fair value of the employee purchase rights represents the difference between the closing price of the Company’s shares on the date of purchase and the purchase price of the shares. Compensation cost relates to the Former Parent’s employee stock purchase plan as the Company has not yet opened its first option period. Compensation cost was not material for the three months ended October 31, 2017, and was $0.1 and $0.1 for the nine months ended October 31, 2018 and 2017, respectively. Former Parent’s final option period ended on June 30, 2018; as a result, there was no compensation cost for the three months ended October 31, 2018.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2018
Income Taxes
Income Taxes	Note 10. Income Taxes The Company had no provision for income tax in the current period due to a pre-tax loss. For the nine month period ended October 31, 2018 and 2017, the provision for income taxes was reduced by a reduction in the valuation allowance established for its net deferred tax asset. The effective income tax rate varies from the federal statutory rate of 21% in 2018 (35% in 2017) primarily due to the fact that the Company has established a full valuation allowance against its net deferred tax asset. The 2018 federal statutory rate is lower than the rate in the prior year as a result of recently enacted tax legislation.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 31, 2018
Segment Reporting
Segment Reporting	Note 11. Segment Reporting The Company is organized on a geographic basis. The Company’s reportable segments, which are also its operating segments, are comprised of the Southwest (the Permian Basin and Eagle Ford Shale), the Rocky Mountains (the Bakken formation, Williston, DJ, Uinta and Piceance Basins and Niobrara Shale) and the Northeast (the Marcellus and Utica Shales as well as the Mid-Continent STACK and SCOOP and Haynesville). The segments regularly report their results of operations and make requests for capital expenditures and acquisition funding to the Company’s chief operational decision-making group (“CODM”). This group is comprised of the Chairman and Chief Executive Officer and the Senior Vice President and Chief Financial Officer. As a result, the CODM has determined the Company has three reportable segments. The following table presents revenues and operating (losses) earnings by reportable segment: Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Revenues Southwest $ 38.2 $ 31.2 $ 118.6 $ 77.1 Rocky Mountains 48.1 35.8 136.1 90.6 Northeast 36.9 22.2 96.7 58.5 Total revenues 123.2 89.2 351.4 226.2 Operating (loss) earnings(1) Southwest (6.0) (1.2) (0.8) (10.4) Rocky Mountains (3.2) 1.3 3.3 (0.5) Northeast (0.7) (1.9) 7.1 (9.1) (Loss) earnings before income taxes $ (9.9) $ (1.8) $ 9.6 $ (20.0) (1) Operating (loss) earnings include an allocation of employee benefits and general and administrative costs primarily based on each segment’s percentage of total revenues for the three and nine months ended October 31, 2018 and 2017. During the three and nine months ended October 31, 2018, the Company incurred approximately $23.0 and $28.7, respectively, of costs related to the completion of the merger of the Aerospace Solutions business of KLX Inc. with The Boeing Company, the Spin-Off of the energy services business into an independent public company, including $10.7 of non-cash compensation expense related to the acceleration of unvested shares held by the Company’s employees, the amendment of the $100.0 asset based lending facility, the issuance of $250.0 of Notes and the acquisition of Motley completed on November 5, 2018 (see Note 13 – Subsequent Events). The following table presents revenues by service offering by reportable segment: Three Months Ended October 31, 2018 October 31, 2017 Rocky Rocky Southwest Mountains Northeast Total Southwest Mountains Northeast Total Completion revenues $ 22.1 $ 25.9 $ 17.9 $ 65.9 $ 17.5 $ 14.9 $ 10.9 $ 43.3 Intervention revenues 9.9 9.6 9.1 28.6 9.2 11.2 5.4 25.8 Production revenues 6.2 12.6 9.9 28.7 4.5 9.7 5.9 20.1 Total revenues $ 38.2 $ 48.1 $ 36.9 $ 123.2 $ 31.2 $ 35.8 $ 22.2 $ 89.2 Nine Months Ended October 31, 2018 October 31, 2017 Rocky Rocky Southwest Mountains Northeast Total Southwest Mountains Northeast Total Completion revenues $ 67.4 $ 70.4 $ 47.6 $ 185.4 $ 42.7 $ 34.6 $ 26.9 $ 104.2 Intervention revenues 32.1 31.5 24.7 88.3 22.8 31.9 15.9 70.6 Production revenues 19.1 34.2 24.4 77.7 11.6 24.1 15.7 51.4 Total revenues $ 118.6 $ 136.1 $ 96.7 $ 351.4 $ 77.1 $ 90.6 $ 58.5 $ 226.2 The following table presents capital expenditures by reportable segment: Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Southwest $ 7.6 $ 3.6 $ 14.9 $ 8.0 Rocky Mountains 4.9 6.3 18.2 18.4 Northeast 7.0 2.7 21.9 7.3 $ 19.5 $ 12.6 $ 55.0 $ 33.7 Capital expenditures for the administrative office and functions have been allocated to the above segments based on each segment’s percentage of total capital expenditures. The following table presents total assets by reportable segment: October 31, January 31, 2018 2018 Southwest $ 156.9 $ 68.8 Rocky Mountains 280.4 124.9 Northeast 203.9 80.1 $ 641.2 $ 273.8 Assets for the administrative office and functions have been allocated to the above segments based on each segment’s percentage of total assets.

Net Earnings Per Common Share

Net Earnings Per Common Share	9 Months Ended
	Oct. 31, 2018
Net Earnings Per Common Share
Net Earnings Per Common Share	Note 12. Net Earnings Per Common Share Basic net (loss) earnings per common share is computed using the weighted average common shares outstanding during the period. Diluted net (loss) earnings per common share is computed by using the weighted average common shares outstanding including the dilutive effect of restricted shares based on an average share price during the period. For the three months ended October 31, 2018 and 2017, 0.1 and no shares of the Company’s common stock, respectively, and no shares for the nine months ended October 31, 2018 and 2017 were excluded from the determination of diluted net (loss) earnings per common share because their effect would have been anti-dilutive. The computations of basic and diluted net (loss) earnings per share for the three and nine months ended October 31, 2018 and 2017 are as follows: Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Net (loss) earnings (1) $ (9.9) $ (1.8) $ 9.5 $ (20.1) (Shares in millions) Basic weighted average common shares 20.1 20.1 20.1 20.1 Effect of dilutive securities - dilutive securities - - 0.1 - Diluted weighted average common shares 20.1 20.1 20.2 20.1 Basic net (loss) earnings per common share (2) $ (0.49) $ (0.09) $ 0.47 $ (1.00) Diluted net (loss) earnings per common share (2) $ (0.49) $ (0.09) $ 0.47 $ (1.00) (1) During the three and nine months ended October 31, 2018, the Company incurred approximately $23.0 and $28.7, respectively, of costs related to the completion of the merger of the Aerospace Solutions business of KLX Inc. with The Boeing Company, the Spin-Off of the energy services business into an independent public company, including $10.7 of non-cash compensation expense related to the acceleration of unvested shares held by the Company’s employees, the amendment of the $100.0 asset based lending facility, the issuance of $250.0 of Notes and the acquisition of Motley completed on November 5, 2018 (see Note 13 – Subsequent Events). (2) On September 14, 2018, the distribution date, KLX stockholders of record as of the close of business on September 3, 2018 received 0.4 shares of KLX Energy Services common stock for every 1.0 share of KLX common stock held as of the record date. October 31, 2017 basic and diluted earnings per common share and the average number of common shares outstanding were calculated using the number of KLX Energy Services common shares outstanding immediately following the distribution.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 31, 2018
Subsequent Events
Subsequent Events	Note 13. Subsequent Events On November 5, 2018, the Company acquired Motley, a premier provider of well completion and intervention services for complex, long lateral, horizontal wells for $139.2 in cash, subject to certain purchase price adjustments, and $9.0 of shares of the Company’s common stock payable to certain employees of Motley. The valuation of the acquired assets and liabilities is not yet complete, and as such the Company has not yet finalized its allocation of the purchase price for the acquisition.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Oct. 31, 2018
Description of Business and Basis of Presentation
Basis of Presentation	Basis of Presentation Prior to the Spin-Off on September 14, 2018, the Company’s unaudited condensed financial statements were derived from the Former Parent’s condensed consolidated financial statements and accounting records as if it was operated on a stand-alone basis and were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany transactions and account balances within the Company have been eliminated. The condensed statements of (loss) earnings reflect allocations of general corporate expenses from the Former Parent, including, but not limited to, executive management, finance, legal, information technology, human resources, employee benefits administration, treasury, risk management, procurement and other shared services. The allocations were made on a direct usage basis when identifiable, with the remainder allocated on the basis of revenues generated, costs incurred, headcount or other measures. Management of the Company considers these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, reflect the expense the Company would have incurred as a stand-alone company for the periods presented. Actual costs that may have been incurred if the Company had been a stand-alone company would depend on a number of factors, including the chosen organizational structure, what functions were outsourced or performed by employees and strategic decisions made in areas such as information technology and infrastructure. Former Parent Company Investment – Former Parent company investment in the condensed balance sheet as of January 31, 2018 represents Former Parent’s historical investment in the Company, the net effect of cost allocations from transactions with Former Parent and net transfers of cash and assets from Former Parent. See Note 4 for a further description of the transactions between the Company and Former Parent. Financial Statement Preparation – The accompanying unaudited condensed financial statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or for any future period.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Oct. 31, 2018
Property and Equipment, Net
Property and Equipment	Useful October 31, January 31, Life (Years) 2018 2018 Land, buildings and improvements 3 - 30 $ 33.7 $ 29.6 Machinery 5 - 20 138.7 125.6 Furniture and equipment 5 182.3 153.2 354.7 308.4 Less accumulated depreciation 148.4 128.9 $ 206.3 $ 179.5

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Oct. 31, 2018
Accrued Liabilities
Accrued Liabilities	October 31, January 31, 2018 2018 Accrued salaries, vacation and related benefits $ 13.3 $ 6.8 Accrued incentive compensation 5.8 6.3 Accrued property taxes 2.3 1.1 Other accrued liabilities 6.7 2.0 $ 28.1 $ 16.2

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 31, 2018
Segment Reporting
Revenues and Other Financial Information by Business Segment	Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Revenues Southwest $ 38.2 $ 31.2 $ 118.6 $ 77.1 Rocky Mountains 48.1 35.8 136.1 90.6 Northeast 36.9 22.2 96.7 58.5 Total revenues 123.2 89.2 351.4 226.2 Operating (loss) earnings(1) Southwest (6.0) (1.2) (0.8) (10.4) Rocky Mountains (3.2) 1.3 3.3 (0.5) Northeast (0.7) (1.9) 7.1 (9.1) (Loss) earnings before income taxes $ (9.9) $ (1.8) $ 9.6 $ (20.0) (1) Operating (loss) earnings include an allocation of employee benefits and general and administrative costs primarily based on each segment’s percentage of total revenues for the three and nine months ended October 31, 2018 and 2017. During the three and nine months ended October 31, 2018, the Company incurred approximately $23.0 and $28.7, respectively, of costs related to the completion of the merger of the Aerospace Solutions business of KLX Inc. with The Boeing Company, the Spin-Off of the energy services business into an independent public company, including $10.7 of non-cash compensation expense related to the acceleration of unvested shares held by the Company’s employees, the amendment of the $100.0 asset based lending facility, the issuance of $250.0 of Notes and the acquisition of Motley completed on November 5, 2018 (see Note 13 – Subsequent Events).
Schedule of revenues by service offering by reportable segment	Three Months Ended October 31, 2018 October 31, 2017 Rocky Rocky Southwest Mountains Northeast Total Southwest Mountains Northeast Total Completion revenues $ 22.1 $ 25.9 $ 17.9 $ 65.9 $ 17.5 $ 14.9 $ 10.9 $ 43.3 Intervention revenues 9.9 9.6 9.1 28.6 9.2 11.2 5.4 25.8 Production revenues 6.2 12.6 9.9 28.7 4.5 9.7 5.9 20.1 Total revenues $ 38.2 $ 48.1 $ 36.9 $ 123.2 $ 31.2 $ 35.8 $ 22.2 $ 89.2 Nine Months Ended October 31, 2018 October 31, 2017 Rocky Rocky Southwest Mountains Northeast Total Southwest Mountains Northeast Total Completion revenues $ 67.4 $ 70.4 $ 47.6 $ 185.4 $ 42.7 $ 34.6 $ 26.9 $ 104.2 Intervention revenues 32.1 31.5 24.7 88.3 22.8 31.9 15.9 70.6 Production revenues 19.1 34.2 24.4 77.7 11.6 24.1 15.7 51.4 Total revenues $ 118.6 $ 136.1 $ 96.7 $ 351.4 $ 77.1 $ 90.6 $ 58.5 $ 226.2
Capital Expenditures by Reportable Segment	Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Southwest $ 7.6 $ 3.6 $ 14.9 $ 8.0 Rocky Mountains 4.9 6.3 18.2 18.4 Northeast 7.0 2.7 21.9 7.3 $ 19.5 $ 12.6 $ 55.0 $ 33.7
Total Assets by Reportable Segment	October 31, January 31, 2018 2018 Southwest $ 156.9 $ 68.8 Rocky Mountains 280.4 124.9 Northeast 203.9 80.1 $ 641.2 $ 273.8

Net Earnings Per Common Share (

Net Earnings Per Common Share (Tables)	9 Months Ended
	Oct. 31, 2018
Net Earnings Per Common Share
Computation of Basic and Diluted Net Earnings Per Share	Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2018 2017 2018 2017 Net (loss) earnings (1) $ (9.9) $ (1.8) $ 9.5 $ (20.1) (Shares in millions) Basic weighted average common shares 20.1 20.1 20.1 20.1 Effect of dilutive securities - dilutive securities - - 0.1 - Diluted weighted average common shares 20.1 20.1 20.2 20.1 Basic net (loss) earnings per common share (2) $ (0.49) $ (0.09) $ 0.47 $ (1.00) Diluted net (loss) earnings per common share (2) $ (0.49) $ (0.09) $ 0.47 $ (1.00) (1) During the three and nine months ended October 31, 2018, the Company incurred approximately $23.0 and $28.7, respectively, of costs related to the completion of the merger of the Aerospace Solutions business of KLX Inc. with The Boeing Company, the Spin-Off of the energy services business into an independent public company, including $10.7 of non-cash compensation expense related to the acceleration of unvested shares held by the Company’s employees, the amendment of the $100.0 asset based lending facility, the issuance of $250.0 of Notes and the acquisition of Motley completed on November 5, 2018 (see Note 13 – Subsequent Events). On September 14, 2018, the distribution date, KLX stockholders of record as of the close of business on September 3, 2018 received 0.4 shares of KLX Energy Services common stock for every 1.0 share of KLX common stock held as of the record date. October 31, 2017 basic and diluted earnings per common share and the average number of common shares outstanding were calculated using the number of KLX Energy Services common shares outstanding immediately following the distribution.

Property and Equipment, Net (Pr

Property and Equipment, Net (Property and Equipment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 354.7		$ 354.7		$ 308.4
Less accumulated depreciation	148.4		148.4		128.9
Property, Plant and Equipment, Net, Total	206.3		206.3		179.5
Depreciation expense	10	$ 8.1	28.1	$ 24.9
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33.7		$ 33.7		29.6
Land, buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives (years)			3 years
Land, buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives (years)			30 years
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	138.7		$ 138.7		125.6
Machinery | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives (years)			5 years
Machinery | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives (years)			20 years
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives (years)			5 years
Property and equipment, gross	$ 182.3		$ 182.3		$ 153.2

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Selling, general and administrative expenses
Allocations for general corporate expenses, including management costs and corporate support services	$ 3.2	$ 4.8	$ 16.6	$ 13.4

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2018	Jan. 31, 2018
Accrued Liabilities
Accrued salaries, vacation and related benefits	$ 13.3	$ 6.8
Accrued bonuses	5.8	6.3
Accrued property taxes	2.3	1.1
Other accrued liabilities	6.7	2
Total accrued liabilities	$ 28.1	$ 16.2

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2018	Aug. 10, 2018
Debt Instrument [Line Items]
Long-term debt	$ 243
Asset based revolving line of credit
Debt Instrument [Line Items]
Amount outstanding	0
Revolving credit facility	100	$ 100
Outstanding letter of credit amount	0.8
Senior Secured Notes 11.5 Percent Due 2025
Debt Instrument [Line Items]
Principle amount	$ 250
Debt instrument, stated interest rate (as a percent)	11.50%
Senior secured notes, net	$ 243

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Oct. 31, 2018USD ($)
Asset based revolving line of credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding	$ 0
Fair Value, Inputs, Level 2 | Senior Secured Notes 11.5 Percent Due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 251.9

Commitments, Contingencies an_2

Commitments, Contingencies and Off-Balance Sheet Arrangements (Details) $ in Millions	3 Months Ended
	Oct. 31, 2018USD ($)
Future minimum lease payments	$ 50.7
Expected gain on termination distribution agreement	0
Real Estate
Future minimum lease payments	$ 23.8

Accounting for Stock-Based Co_2

Accounting for Stock-Based Compensation (Details) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018USD ($)item	Oct. 31, 2017USD ($)	Oct. 31, 2018USD ($)	Oct. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 14.1	$ 2.8	$ 19.2	$ 8.6
Unrecognized compensation cost	$ 61.9		61.9
Number of key executives receiving restricted stock awards during the period | item	3
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 0		$ 0.1	$ 0.1
Qualified employees purchase of stock at a price equal to percentage of closing price			85.00%
Accelerated Vesting, Sale of Former Parent Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 10.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Oct. 31, 2018	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
Income Taxes
Income Tax Expense Benefit	$ 0	$ 0.1	$ 0.1
Effective U.S. federal income tax rate		21.00%		35.00%

Segment Reporting (Revenues and

Segment Reporting (Revenues and Operating Earnings (Losses) by Reportable Segment) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Oct. 31, 2018USD ($)segment	Oct. 31, 2017USD ($)	Aug. 10, 2018USD ($)
Reportable Segments [Abstract]
Number of reportable segments | segment			3
Revenues
Revenues	$ 123.2	$ 89.2	$ 351.4	$ 226.2
Operating earnings (loss)
Operating earnings (loss)	(9.9)	(1.8)	9.6	(20)
(Loss) earnings before income taxes	(9.9)	(1.8)	9.6	(20)
Merger costs	23		28.7
Share based compensation	14.1	2.8	19.2	8.6
Accelerated Vesting, Sale of Former Parent Company
Operating earnings (loss)
Share based compensation	10.7
Senior Secured Notes 11.5 Percent Due 2025
Operating earnings (loss)
Principle amount	250		250
Asset based revolving line of credit
Operating earnings (loss)
Revolving credit facility	100		100		$ 100
Operating Income (Loss)
Operating earnings (loss)
Merger costs	23		28.7
Operating Income (Loss) | Accelerated Vesting, Sale of Former Parent Company
Operating earnings (loss)
Share based compensation	10.7
Southwest
Revenues
Revenues	38.2	31.2	118.6	77.1
Operating earnings (loss)
Operating earnings (loss)	(6)	(1.2)	(0.8)	(10.4)
Rocky Mountains
Revenues
Revenues	48.1	35.8	136.1	90.6
Operating earnings (loss)
Operating earnings (loss)	(3.2)	1.3	3.3	(0.5)
Northeast
Revenues
Revenues	36.9	22.2	96.7	58.5
Operating earnings (loss)
Operating earnings (loss)	$ (0.7)	$ (1.9)	$ 7.1	$ (9.1)

Segment Reporting (Revenues by

Segment Reporting (Revenues by Service Offering by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 123.2	$ 89.2	$ 351.4	$ 226.2
Southwest
Segment Reporting Information [Line Items]
Revenues	38.2	31.2	118.6	77.1
Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	48.1	35.8	136.1	90.6
Northeast
Segment Reporting Information [Line Items]
Revenues	36.9	22.2	96.7	58.5
Completion revenues
Segment Reporting Information [Line Items]
Revenues	65.9	43.3	185.4	104.2
Completion revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	22.1	17.5	67.4	42.7
Completion revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	25.9	14.9	70.4	34.6
Completion revenues | Northeast
Segment Reporting Information [Line Items]
Revenues	17.9	10.9	47.6	26.9
Intervention revenues
Segment Reporting Information [Line Items]
Revenues	28.6	25.8	88.3	70.6
Intervention revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	9.9	9.2	32.1	22.8
Intervention revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	9.6	11.2	31.5	31.9
Intervention revenues | Northeast
Segment Reporting Information [Line Items]
Revenues	9.1	5.4	24.7	15.9
Production revenues
Segment Reporting Information [Line Items]
Revenues	28.7	20.1	77.7	51.4
Production revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	6.2	4.5	19.1	11.6
Production revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	12.6	9.7	34.2	24.1
Production revenues | Northeast
Segment Reporting Information [Line Items]
Revenues	$ 9.9	$ 5.9	$ 24.4	$ 15.7

Segment Reporting (Capital Expe

Segment Reporting (Capital Expenditures by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 19.5	$ 12.6	$ 55	$ 33.7
Southwest
Property, Plant and Equipment [Line Items]
Capital expenditures	7.6	3.6	14.9	8
Rocky Mountains
Property, Plant and Equipment [Line Items]
Capital expenditures	4.9	6.3	18.2	18.4
Northeast
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 7	$ 2.7	$ 21.9	$ 7.3

Segment Reporting (Total Assets

Segment Reporting (Total Assets by Reportable Segment) (Details) - USD ($) $ in Millions	Oct. 31, 2018	Jan. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 641.2	$ 273.8
Southwest
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	156.9	68.8
Rocky Mountains
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	280.4	124.9
Northeast
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 203.9	$ 80.1

Net Earnings Per Common Share_2

Net Earnings Per Common Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Net Earnings Per Common Share
Anti-dilutive securities excluded from determination of diluted earnings per common share	0.1	0	0	0

Net Earnings Per Common Share_3

Net Earnings Per Common Share (Computations of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Sep. 14, 2018	Aug. 10, 2018
Net earnings (loss)	$ (9.9)	$ (1.8)	$ 9.5	$ (20.1)
Basic weighted average common shares (in millions)	20,100,000	20,100,000	20,100,000	20,100,000
Effect of dilutive securities - dilutive securities			100,000
Diluted weighted average common shares (in millions)	20,100,000	20,100,000	20,200,000	20,100,000
Basic net earnings per common share	$ (0.49)	$ (0.09)	$ 0.47	$ (1)
Diluted net earnings per common share	$ (0.49)	$ (0.09)	$ 0.47	$ (1)
Merger costs	$ 23		$ 28.7
Share based compensation	14.1	$ 2.8	19.2	$ 8.6
Number of shares received for each share of former parent entity					0.4
Number of shares of former parent used in share distribution calculation					1
Senior Secured Notes 11.5 Percent Due 2025
Principle amount	250		250
Asset based revolving line of credit
Revolving credit facility	100		$ 100			$ 100
Accelerated Vesting, Sale of Former Parent Company
Share based compensation	$ 10.7

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Motley $ in Millions	Nov. 05, 2018USD ($)
Subsequent Event [Line Items]
Cash paid for acquisition	$ 139.2
Equity interest payable	$ 9