NPK International (NPKI) 10-Q 25 Apr 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 17, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'NEWPARK RESOURCES INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	84,852,299
Amendment Flag	'false	'
Entity Central Index Key	'0000071829	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$130,187	$65,840
Receivables, net	276,082	268,529
Inventories	199,565	189,680
Deferred tax asset	11,750	11,272
Prepaid expenses and other current assets	15,034	11,016
Assets of discontinued operations	'	13,103
Total current assets	632,618	559,440
Property, plant and equipment, net	227,050	217,010
Goodwill	93,781	94,064
Other intangible assets, net	23,870	25,900
Other assets	9,813	6,086
Assets of discontinued operations	'	65,917
Total assets	987,132	968,417
LIABILITIES AND STOCKHOLDERS’ EQUITY	'	'
Short-term debt	15,759	12,867
Accounts payable	88,328	88,586
Accrued liabilities	65,196	46,341
Liabilities of discontinued operations	'	5,957
Total current liabilities	169,283	153,751
Long-term debt, less current portion	172,771	172,786
Deferred tax liability	26,235	27,060
Other noncurrent liabilities	11,288	11,026
Liabilities of discontinued operations	'	22,740
Total liabilities	379,577	387,363
Commitments and contingencies (Note 9)	'	'
Common stock, $0.01 par value, 200,000,000 shares authorized and 98,032,555 and 98,030,839 shares issued, respectively	980	980
Paid-in capital	507,820	504,675
Accumulated other comprehensive loss	-8,279	-9,484
Retained earnings	195,349	160,338
Treasury stock, at cost; 11,904,275 and 10,832,845 shares, respectively	-88,315	-75,455
Total stockholders’ equity	607,555	581,054
Total liabilities and stockholders' equity	$987,132	$968,417

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Common stock par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	98,032,555	98,030,839
Treasury stock, shares	11,904,275	10,832,845

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues	$242,824	$267,923
Cost of revenues	196,560	220,735
Selling, general and administrative expenses	25,523	22,451
Other operating income, net	-16	-124
Operating income	20,757	24,861
Foreign currency exchange loss (gain)	54	-368
Interest expense, net	2,920	2,520
Income from continuing operations before income taxes	17,783	22,709
Provision for income taxes	6,041	7,842
Income from continuing operations	11,742	14,867
Income from discontinued operations, net of tax	1,152	2,508
Gain from disposal of discontinued operations, net of tax	22,117	'
Net income	$35,011	$17,375
Income per common share -basic:	'	'
Income from continuing operations (in Dollars per share)	$0.14	$0.18
Income from discontinued operations (in Dollars per share)	$0.27	$0.03
Net income (in Dollars per share)	$0.41	$0.21
Income per common share -diluted:	'	'
Income from continuing operations (in Dollars per share)	$0.13	$0.16
Income from discontinued operations (in Dollars per share)	$0.23	$0.02
Net income (in Dollars per share)	$0.36	$0.18

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net income	$35,011	$17,375
Foreign currency translation adjustments	1,205	-2,764
Comprehensive income	$36,216	$14,611

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows [Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$35,011	$17,375
Adjustments to reconcile net income to net cash provided by operations:	'	'
Depreciation and amortization	10,287	10,954
Stock-based compensation expense	2,840	1,973
Provision for deferred income taxes	-13,108	534
Net provision for doubtful accounts	173	208
Gain on sale of a business	-33,974	'
Gain on sale of assets	-362	-99
Change in assets and liabilities:	'	'
Increase in receivables	-1,080	-20,969
Increase in inventories	-9,229	-1,280
Increase in other assets	-3,858	-2,382
(Decrease) increase in accounts payable	-1,248	4,179
Increase in accrued liabilities and other	18,142	4,747
Net cash provided by operating activities	3,594	15,240
Cash flows from investing activities:	'	'
Capital expenditures	-18,509	-16,127
Proceeds from sale of property, plant and equipment	754	213
Proceeds from sale of a business	89,167	'
Net cash provided by (used in) investing activities	71,412	-15,914
Cash flows from financing activities:	'	'
Borrowings on lines of credit	47,562	71,102
Payments on lines of credit	-45,113	-78,748
Other financing activities	-13	-38
Proceeds from employee stock plans	34	3,808
Purchase of treasury stock	-13,123	'
Net cash used in financing activities	-10,653	-3,876
Effect of exchange rate changes on cash	-6	-586
Net increase (decrease) in cash and cash equivalents	64,347	-5,136
Cash and cash equivalents at beginning of year	65,840	46,846
Cash and cash equivalents at end of period	130,187	41,710
Cash paid for:	'	'
Income taxes (net of refunds)	9,500	4,294
Interest	$667	$331

Note_1_Basis_of_Presentation_a

Note 1 - Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	Note 1 – Basis of Presentation and Significant Accounting Policies
	The accompanying unaudited condensed consolidated financial statements of Newpark Resources, Inc. and our wholly-owned subsidiaries, which we refer to as “we,” “our” or “us,” have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the Securities and Exchange Commission (“SEC”), and do not include all information and footnotes required by the accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013. Our fiscal year end is December 31 and our first quarter represents the three month period ended March 31. The results of operations for the first quarter of 2014 are not necessarily indicative of the results to be expected for the entire year. Unless otherwise stated, all currency amounts are stated in U.S. dollars.
	In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of March 31, 2014, the results of our operations for the first quarter of 2014 and 2013, and our cash flows for the first quarter of 2014 and 2013. All adjustments are of a normal recurring nature. Our balance sheet at December 31, 2013 is derived from the audited consolidated financial statements at that date.
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For further information, see Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2013.
	New Accounting Standards
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance that changes the criteria for reporting discontinued operations including enhanced disclosure requirements. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization´s operations and financial results. The new guidance is effective for us in the first quarter of 2015, however we do not expect the adoption to have a material effect on our consolidated financial statements.

Note_2_Discontinued_Operations

Note 2 - Discontinued Operations	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	Note 2 – Discontinued Operations
	On March 17, 2014, we completed the previously announced sale of our Environmental Services business for $100 million in cash, subject to adjustment based on actual working capital conveyed at closing. Cash proceeds from the sale were $89.2 million in the first quarter of 2014, net of transaction related expenses. In addition, $8 million of the sale price was withheld in escrow associated with transaction representations, warranties and indemnities, and is expected to be released over the next two years. As a result of the sale transaction, we recorded a gain on the disposal of the business of $34.0 million ($22.1 million after-tax). All assets, liabilities and results of operations for this business have been reclassified to discontinued operations for all periods presented.
	Summarized results of operations from discontinued operations are as follows:
		Three Months Ended March 31,
	(In thousands)	2014		2013
	Revenues	$	11,744	$	14,595
	Income from discontinued operations before income taxes		1,770		3,508
	Income from discontinued operations, net of tax		1,152		2,508
	Gain from disposal of discontinued operations before income taxes		33,974		-
	Gain from disposal of discontinued operations, net of tax		22,117		-
	As of March 31, 2014, our reported accrued liabilities of $65.2 million, includes approximately $31 million of accrued income taxes payable, the majority of which is related to the sale of this business. Assets and liabilities of discontinued operations as of December 31, 2013 were as follows:
		December 31,
	(In thousands)	2013
	Receivables, net	$	11,915
	Prepaid expenses and other current assets		1,188
	Property, plant and equipment		62,333
	Other assets		3,584
	Assets of discontinued operations	$	79,020
	Accounts payable	$	4,415
	Other Accrued liabilities		1,542
	Deferred tax liability		12,449
	Other noncurrent liabilities		10,291
	Liabilities of discontinued operations	$	28,697

Note_3_Earnings_Per_Share

Note 3 - Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 3 – Earnings per Share
	The following table presents the reconciliation of the numerator and denominator for calculating earnings per share from continuing operations:
		First Quarter
	(In thousands, except per share data)	2014		2013
	Basic EPS:
	Income from continuing operations	$	11,742	$	14,867
	Weighted average number of common shares outstanding		84,743		84,100
	Basic income from continuing operations per common share	$	0.14	$	0.18
	Diluted EPS:
	Income from continuing operations	$	11,742	$	14,867
	Assumed conversions of Senior Notes		1,261		1,250
	Adjusted income from continuing operations	$	13,003	$	16,117
	Weighted average number of common shares outstanding-basic		84,743		84,100
	Add: Dilutive effect of stock options and restricted stock awards		1,674		1,572
	Dilutive effect of Senior Notes		15,682		15,682
	Diluted weighted average number of common shares outstanding		102,099		101,354
	Diluted income from continuing operations per common share	$	0.13	$	0.16
	Stock options excluded from calculation of diluted earnings per share because anti-dilutive for the period		627		592
	For the first quarter of 2014 and 2013, we had weighted average dilutive stock options and restricted stock outstanding of approximately 5.0 million shares and 5.5 million shares, respectively. The resulting net effect of stock options and restricted stock were used in calculating diluted earnings per share for the period.

Note_4_Acquisition

Note 4 - Acquisition	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	Note 4 – Acquisition
	In December 2013, we completed the acquisition of Terrafirma Roadways (“Terrafirma”), a provider of temporary roadways and worksites based in the United Kingdom, for total cash consideration of $6.8 million, net of cash acquired. Additional consideration up to £1.0 million ($1.6 million) may be payable based on earnings of the business over the 18-month period following the acquisition. Prior to the acquisition, Terrafirma had been operating as a partner to the Company since 2008, developing a rental business with DURA-BASE® composite mats, primarily focused in the utility industry in the U.K.
	The transaction has been recorded using the acquisition method of accounting and accordingly, assets acquired and liabilities assumed were recorded at their fair values as of the acquisition date. The excess of the total consideration, including projected additional consideration, was recorded as goodwill and includes the value of the assembled workforce. While the initial purchase price allocation has been completed, the allocation of the purchase price is subject to change for a period of one year following the acquisition. The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the December 2013 acquisition date:
	(In thousands)
	Receivables, net	$	2,155
	Property, plant and equipment, net		2,160
	Goodwill		4,544
	Other intangibles, net		4,528
	Total assets acquired		13,387
	Accounts payable		3,350
	Short-term debt		284
	Accrued liabilities		285
	Deferred tax liability		1,092
	Other noncurrent liabilities		1,600
	Total liabilities assumed		6,611
	Total cash conveyed at closing	$	6,776
	Pro forma results of operation for the acquired business have not been presented as the effect of this acquisition is not material to our consolidated financial statements.

Note_5_Treasury_Stock

Note 5 - Treasury Stock	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 5 – Treasury Stock
	In April 2013, our Board of Directors approved a share repurchase program that authorizes the Company to purchase up to $50.0 million of its outstanding shares of common stock. In February 2014, our Board of Directors increased the total authorization of the program to $100.0 million, subject to completion of the Environmental Services divesture. These purchases are funded with a combination of cash generated from operations, the sale of the Environmental Services business and borrowings under the Company’s revolving credit facility. The repurchase program has no specific term. The Company may repurchase shares in the open market or as otherwise determined by management, subject to market conditions, business opportunities and other factors. As part of the share repurchase program, the Company’s management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934.
	During the first quarter of 2014, 1,095,413 shares were repurchased for an average price of approximately $11.84 per share, including commissions, leaving $80.3 million remaining under the program. All of the shares repurchased are held as treasury stock. We record treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.

Note_6_Receivables

Note 6 - Receivables	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	'
	Note 6 – Receivables
	Receivables - Receivables consist of the following:
		March 31,			December 31,
	(In thousands)	2014			2013
	Gross trade receivables	$	254,376		$	252,168
	Allowance for doubtful accounts		(4,204	)		(4,142	)
	Net trade receivables		250,172			248,026
	Other receivables		25,910			20,503
	Total receivables, net	$	276,082		$	268,529

Note_7_Inventories

Note 7 - Inventories	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	Note 7 – Inventories
	Inventories- Inventories consist of the following:
	(In thousands)	March 31,		December 31,
		2014		2013
	Raw materials:
	Drilling fluids	$	173,393	$	153,901
	Mats		914		790
	Total raw materials		174,307		154,691
	Blended drilling fluids components		23,914		34,075
	Finished goods- mats		1,344		914
	Total	$	199,565	$	189,680
	Raw materials consist primarily of barite, chemicals, and other additives that are consumed in the production of our drilling fluid systems. Our blended drilling fluids components consist of base drilling fluid systems that have been either mixed internally at our mixing plants or purchased from third party vendors. These base systems require raw materials to be added, as required to meet specified customer requirements.

Note_8_Financing_Arrangements_

Note 8 - Financing Arrangements and Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 8 – Financing Arrangements and Fair Value of Financial Instruments
	Our financing arrangements include $172.5 million of unsecured convertible senior notes (“Senior Notes”) and a $125.0 million revolving credit facility which can be increased by $75.0 million for a maximum $200.0 million of capacity. At March 31, 2014, we had no outstanding borrowings under the revolving credit facility. The Senior Notes bear interest at a rate of 4.0% per year, payable semi-annually in arrears on April 1 and October 1 of each year, beginning April 1, 2011. Holders may convert the Senior Notes at their option at any time prior to the close of business on the business day immediately preceding the October 1, 2017 maturity date. The conversion rate is initially 90.8893 shares of our common stock per $1,000 principal amount of Senior Notes (equivalent to an initial conversion price of $11.00 per share of common stock), subject to adjustment in certain circumstances. Upon conversion, the Senior Notes will be settled in shares of our common stock. We may not redeem the Senior Notes prior to their maturity date.
	Our financial instruments include cash and cash equivalents, receivables, payables and debt. We believe the carrying values of these instruments, with the exception of our Senior Notes, approximated their fair values at March 31, 2014 and December 31, 2013. The estimated fair value of our Senior Notes is $219.1 million at March 31, 2014 and $231.2 million at December 31, 2013, based on quoted market prices at these respective dates.

Note_9_Commitments_and_Conting

Note 9 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 9 – Commitments and Contingencies
	In the ordinary course of conducting our business, we become involved in litigation and other claims from private party actions, as well as judicial and administrative proceedings involving governmental authorities at the federal, state and local levels. In the opinion of management, any liability in these matters should not have a material effect on our consolidated financial statements.

Note_10_Segment_Data

Note 10 - Segment Data	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 10 – Segment Data
	Summarized operating results for our reportable segments is shown in the following table (net of inter-segment transfers):
		First Quarter
	(In thousands)	2014			2013
	Revenues
	Fluids systems	$	211,400		$	247,339
	Mats & integrated services		31,424			20,584
	Total Revenues	$	242,824		$	267,923
	Operating Income (loss)
	Fluids systems	$	15,740		$	22,622
	Mats & integrated services		13,373			8,480
	Corporate office		(8,356	)		(6,241	)
	Operating Income	$	20,757		$	24,861

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
New Accounting Pronouncements, Policy [Policy Text Block]	'
	New Accounting Standards
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance that changes the criteria for reporting discontinued operations including enhanced disclosure requirements. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization´s operations and financial results. The new guidance is effective for us in the first quarter of 2015, however we do not expect the adoption to have a material effect on our consolidated financial statements.

Note_2_Discontinued_Operations1

Note 2 - Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2014
Income Statement [Member]	'
Note 2 - Discontinued Operations (Tables) [Line Items]	'
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
		Three Months Ended March 31,
	(In thousands)	2014		2013
	Revenues	$	11,744	$	14,595
	Income from discontinued operations before income taxes		1,770		3,508
	Income from discontinued operations, net of tax		1,152		2,508
	Gain from disposal of discontinued operations before income taxes		33,974		-
	Gain from disposal of discontinued operations, net of tax		22,117		-
Balance Sheet [Member]	'
Note 2 - Discontinued Operations (Tables) [Line Items]	'
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
		December 31,
	(In thousands)	2013
	Receivables, net	$	11,915
	Prepaid expenses and other current assets		1,188
	Property, plant and equipment		62,333
	Other assets		3,584
	Assets of discontinued operations	$	79,020
	Accounts payable	$	4,415
	Other Accrued liabilities		1,542
	Deferred tax liability		12,449
	Other noncurrent liabilities		10,291
	Liabilities of discontinued operations	$	28,697

Note_3_Earnings_Per_Share_Tabl

Note 3 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		First Quarter
	(In thousands, except per share data)	2014		2013
	Basic EPS:
	Income from continuing operations	$	11,742	$	14,867
	Weighted average number of common shares outstanding		84,743		84,100
	Basic income from continuing operations per common share	$	0.14	$	0.18
	Diluted EPS:
	Income from continuing operations	$	11,742	$	14,867
	Assumed conversions of Senior Notes		1,261		1,250
	Adjusted income from continuing operations	$	13,003	$	16,117
	Weighted average number of common shares outstanding-basic		84,743		84,100
	Add: Dilutive effect of stock options and restricted stock awards		1,674		1,572
	Dilutive effect of Senior Notes		15,682		15,682
	Diluted weighted average number of common shares outstanding		102,099		101,354
	Diluted income from continuing operations per common share	$	0.13	$	0.16
	Stock options excluded from calculation of diluted earnings per share because anti-dilutive for the period		627		592

Note_4_Acquisition_Tables

Note 4 - Acquisition (Tables)	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	'
	(In thousands)
	Receivables, net	$	2,155
	Property, plant and equipment, net		2,160
	Goodwill		4,544
	Other intangibles, net		4,528
	Total assets acquired		13,387
	Accounts payable		3,350
	Short-term debt		284
	Accrued liabilities		285
	Deferred tax liability		1,092
	Other noncurrent liabilities		1,600
	Total liabilities assumed		6,611
	Total cash conveyed at closing	$	6,776

Note_6_Receivables_Tables

Note 6 - Receivables (Tables)	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
		March 31,			December 31,
	(In thousands)	2014			2013
	Gross trade receivables	$	254,376		$	252,168
	Allowance for doubtful accounts		(4,204	)		(4,142	)
	Net trade receivables		250,172			248,026
	Other receivables		25,910			20,503
	Total receivables, net	$	276,082		$	268,529

Note_7_Inventories_Tables

Note 7 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	(In thousands)	March 31,		December 31,
		2014		2013
	Raw materials:
	Drilling fluids	$	173,393	$	153,901
	Mats		914		790
	Total raw materials		174,307		154,691
	Blended drilling fluids components		23,914		34,075
	Finished goods- mats		1,344		914
	Total	$	199,565	$	189,680

Note_10_Segment_Data_Tables

Note 10 - Segment Data (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		First Quarter
	(In thousands)	2014			2013
	Revenues
	Fluids systems	$	211,400		$	247,339
	Mats & integrated services		31,424			20,584
	Total Revenues	$	242,824		$	267,923
	Operating Income (loss)
	Fluids systems	$	15,740		$	22,622
	Mats & integrated services		13,373			8,480
	Corporate office		(8,356	)		(6,241	)
	Operating Income	$	20,757		$	24,861

Note_2_Discontinued_Operations2

Note 2 - Discontinued Operations (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]	'	'
Proceeds from Divestiture of Businesses	$100,000,000	'
Proceeds from Divestiture of Businesses, Net	89,167,000	'
Sale Price Amount Held in Escrow	8,000,000	'
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	33,974,000	'
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	22,117,000	'
Accrued Liabilities, Current	65,196,000	46,341,000
Disposal Group, Including Discontinued Operation, Accrued Income Taxes Payable	$31,000,000	'

Note_2_Discontinued_Operations3

Note 2 - Discontinued Operations (Details) - Summary of Operations from Discontinued Operations (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Summary of Operations from Discontinued Operations [Abstract]	'	'
Revenues	$11,744	$14,595
Income from discontinued operations before income taxes	1,770	3,508
Income from discontinued operations, net of tax	1,152	2,508
Gain from disposal of discontinued operations before income taxes	33,974	'
Gain from disposal of discontinued operations, net of tax	$22,117	'

Note_2_Discontinued_Operations4

Note 2 - Discontinued Operations (Details) - Assets and Liabilities from Discontinued Operations (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Assets and Liabilities from Discontinued Operations [Abstract]	'
Receivables, net	$11,915
Prepaid expenses and other current assets	1,188
Property, plant and equipment	62,333
Other assets	3,584
Assets of discontinued operations	79,020
Accounts payable	4,415
Other Accrued liabilities	1,542
Deferred tax liability	12,449
Other noncurrent liabilities	10,291
Liabilities of discontinued operations	$28,697

Note_3_Earnings_Per_Share_Deta

Note 3 - Earnings Per Share (Details)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Weighted Average Dilutive Stock Options and Restricted Stock Outstanding	5	5.5

Note_3_Earnings_Per_Share_Deta1

Note 3 - Earnings Per Share (Details) - Earnings Per Share (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Basic EPS:	'	'
Net income from continuing operations (in Dollars)	$11,742	$14,867
Assumed conversions of Senior Notes (in Dollars)	1,261	1,250
Adjusted income from continuing operations (in Dollars)	$13,003	$16,117
Weighted average number of common shares outstanding - basic	84,743	84,100
Add: Dilutive effect of stock options and restricted stock awards	1,674	1,572
Dilutive effect of Senior Notes	15,682	15,682
Diluted weighted average number of common shares outstanding	102,099	101,354
Diluted income from continuing operations per common share (in Dollars per share)	$0.13	$0.16
Stock options excluded from calculation of diluted earnings per share because anti-dilutive for the period	627	592
Basic income from continuing operations per common share (in Dollars per share)	$0.14	$0.18

Note_4_Acquisition_Details

Note 4 - Acquisition (Details) (Terrafirma Roadways [Member])	1 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	USD ($)		Maximum [Member]	Maximum [Member]
			USD ($)	GBP (£)
Note 4 - Acquisition (Details) [Line Items]	'	'	'	'
Payments to Acquire Businesses, Net of Cash Acquired	$6.80	'	'	'
Business Acquisition Contingent Consideration Potential Cash Payment1	'	'	$1.60	£ 1
Business Acquisition Period	'	'18 months	'	'

Note_4_Acquisition_Details_Ass

Note 4 - Acquisition (Details) - Assets Acquired and Liabilities Assumed (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Note 4 - Acquisition (Details) - Assets Acquired and Liabilities Assumed [Line Items]	'	'
Goodwill	$93,781	$94,064
Terrafirma Roadways [Member]	'	'
Note 4 - Acquisition (Details) - Assets Acquired and Liabilities Assumed [Line Items]	'	'
Receivables, net	'	2,155
Property, plant and equipment, net	'	2,160
Goodwill	'	4,544
Other intangibles, net	'	4,528
Total assets acquired	'	13,387
Accounts payable	'	3,350
Short-term debt	'	284
Accrued liabilities	'	285
Deferred tax liability	'	1,092
Other noncurrent liabilities	'	1,600
Total liabilities assumed	'	6,611
Total cash conveyed at closing	'	$6,776

Note_5_Treasury_Stock_Details

Note 5 - Treasury Stock (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Note 5 - Treasury Stock (Details) [Line Items]	'	'
Stock Repurchased During Period, Shares (in Shares)	1,095,413	'
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)	$11.84	'
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$80.30	'
Share Repurchase Program [Member]	'	'
Note 5 - Treasury Stock (Details) [Line Items]	'	'
Stock Repurchase Program, Authorized Amount	$100	$50

Note_6_Receivables_Details_Rec

Note 6 - Receivables (Details) - Receivables (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Receivables [Abstract]	'	'
Gross trade receivables	$254,376	$252,168
Allowance for doubtful accounts	-4,204	-4,142
Net trade receivables	250,172	248,026
Other receivables	25,910	20,503
Total receivables, net	$276,082	$268,529

Note_7_Inventories_Details_Inv

Note 7 - Inventories (Details) - Inventories (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Raw materials:	'	'
Raw materials	$174,307	$154,691
Total	199,565	189,680
Drilling fluids [Member]	'	'
Raw materials:	'	'
Raw materials	173,393	153,901
Mats [Member]	'	'
Raw materials:	'	'
Raw materials	914	790
Finished goods- mats	1,344	914
Blended Drilling Fluids Components [Member]	'	'
Raw materials:	'	'
Blended drilling fluids components	$23,914	$34,075

Note_8_Financing_Arrangements_1

Note 8 - Financing Arrangements and Fair Value of Financial Instruments (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Senior Notes [Member]	'	'
Note 8 - Financing Arrangements and Fair Value of Financial Instruments (Details) [Line Items]	'	'
Debt Instrument, Face Amount	$172,500,000	'
Debt Instrument, Interest Rate, Stated Percentage	4.00%	'
Debt Conversion Converted Instrument Shares Issued For Basis Principal (in Shares)	90.8893	'
Debt Conversion Principal Amount Of Senior Notes As Basis For Conversion Rate	1,000	'
Debt Instrument, Convertible, Conversion Price (in Dollars per share)	$11	'
Fair Value, Estimate Not Practicable, Senior Debt Obligations	219,100,000	231,200,000
Revolving Credit Facility [Member]	'	'
Note 8 - Financing Arrangements and Fair Value of Financial Instruments (Details) [Line Items]	'	'
Additional Borrowing Capacity on Credit Facility	75,000,000	'
Minimum [Member] | Revolving Credit Facility [Member]	'	'
Note 8 - Financing Arrangements and Fair Value of Financial Instruments (Details) [Line Items]	'	'
Line of Credit Facility, Maximum Borrowing Capacity	125,000,000	'
Maximum [Member] | Revolving Credit Facility [Member]	'	'
Note 8 - Financing Arrangements and Fair Value of Financial Instruments (Details) [Line Items]	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$200,000,000	'

Note_10_Segment_Data_Details_F

Note 10 - Segment Data (Details) - Financial Information by Segment (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Revenues	$242,824	$267,923
Operating Income (loss)	'	'
Operating Income	20,757	24,861
Fluids Systems & Engineering [Member]	'	'
Revenues	'	'
Revenues	211,400	247,339
Operating Income (loss)	'	'
Operating Income	15,740	22,622
Mats and Integrated Services [Member]	'	'
Revenues	'	'
Revenues	31,424	20,584
Operating Income (loss)	'	'
Operating Income	13,373	8,480
Corporate Segment [Member]	'	'
Operating Income (loss)	'	'
Operating Income	($8,356)	($6,241)