RPC (RES) 10-Q29 Oct 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Oct. 22, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	1-8726
Entity Registrant Name	RPC, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-1550825
Entity Address, Address Line One	2801 Buford Highway, Suite 300
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30329
City Area Code	404
Local Phone Number	321-2140
Title of 12(b) Security	Common stock, par value $0.10
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		215,725,436
Entity Central Index Key	0000742278
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Trading Symbol	RES

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 80,835	$ 84,496
Accounts receivable, net of allowance for doubtful accounts of $7,342 in 2021 and $5,181 in 2020	238,192	161,771
Inventories	79,881	82,918
Income taxes receivable	51,021	82,943
Prepaid expenses	4,371	9,124
Assets held for sale	692	4,032
Other current assets	2,863	3,075
Total current assets	457,855	428,359
Property, plant and equipment, less accumulated depreciation of $792,763 in 2021 and $790,712 in 2020	253,095	264,411
Operating lease right-of-use assets	21,408	27,270
Finance lease right-of-use assets	21,415
Goodwill	32,150	32,150
Other assets	40,717	38,315
Total assets	826,640	790,505
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	60,862	41,080
Accrued payroll and related expenses	17,146	18,428
Accrued insurance expenses	6,555	5,489
Accrued state, local and other taxes	4,603	2,788
Income taxes payable	689	1,115
Current portion of operating lease liabilities	7,197	9,192
Current portion of finance lease liabilities	21,382
Other accrued expenses	2,287	1,473
Total current liabilities	120,721	79,565
Long-term accrued insurance expenses	13,652	11,822
Long-term pension liabilities	30,945	33,080
Deferred income taxes	9,099	13,332
Long-term operating lease liabilities	16,066	21,090
Other long-term liabilities	5,374	49
Total liabilities	195,857	158,938
STOCKHOLDER'S EQUITY
Common stock	21,564	21,495
Capital in excess of par value	0	0
Retained earnings	626,501	627,778
Accumulated other comprehensive loss	(17,282)	(17,706)
Total stockholders' equity	630,783	631,567
Total liabilities and stockholders' equity	$ 826,640	$ 790,505

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts	$ 7,342	$ 5,181
Accumulated depreciation	$ 792,763	$ 790,712

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665
Cost of revenues (exclusive of items shown below)	170,621	100,872	462,633	362,853
Selling, general and administrative expenses	31,446	32,376	91,444	97,681
Impairment and other charges	0	0	0	207,175
Depreciation and amortization	18,106	18,655	53,775	77,521
Gain on disposition of assets, net	(2,837)	(3,563)	(7,408)	(7,576)
Operating income (loss)	7,974	(31,752)	(3,767)	(287,989)
Interest expense	(1,280)	(73)	(1,763)	(257)
Interest income	15	29	47	431
Other income (expense), net	448	769	1,571	(1,020)
Income (loss) before income taxes	7,157	(31,027)	(3,912)	(288,835)
Income tax provision (benefit)	1,891	(14,590)	1,210	(86,882)
Net income (loss)	$ 5,266	$ (16,437)	$ (5,122)	$ (201,953)
Earnings(loss) per share
Basic (in dollars per share)	$ 0.02	$ (0.08)	$ (0.02)	$ (0.95)
Diluted (in dollars per share)	$ 0.02	$ (0.08)	$ (0.02)	$ (0.95)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 5,266	$ (16,437)	$ (5,122)	$ (201,953)
Other comprehensive income (loss):
Pension adjustment and reclassification adjustment, net of taxes	152	186	458	1,104
Foreign currency translation	(239)	(25)	(34)	(423)
Comprehensive income (loss)	$ 5,179	$ (16,276)	$ (4,698)	$ (201,272)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total
Balance at Dec. 31, 2019	$ 21,443		$ 832,113	$ (23,223)	$ 830,333
Balance (in shares) at Dec. 31, 2019	214,423
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ 100	$ 1,997			2,097
Stock issued for stock incentive plans, net (in shares)	1,014
Stock purchased and retired	$ (17)	(1,997)	1,222		(792)
Stock purchased and retired (in shares)	(177)
Net income (loss)			(160,423)		(160,423)
Pension adjustment, net of taxes				732	732
Foreign currency translation				(712)	(712)
Balance at Mar. 31, 2020	$ 21,526		672,912	(23,203)	671,235
Balance (in shares) at Mar. 31, 2020	215,260
Balance at Dec. 31, 2019	$ 21,443		832,113	(23,223)	830,333
Balance (in shares) at Dec. 31, 2019	214,423
Increase (Decrease) in Stockholders' Equity
Net income (loss)					(201,953)
Foreign currency translation					(423)
Balance at Sep. 30, 2020	$ 21,507		638,590	(22,542)	637,555
Balance (in shares) at Sep. 30, 2020	215,067
Balance at Mar. 31, 2020	$ 21,526		672,912	(23,203)	671,235
Balance (in shares) at Mar. 31, 2020	215,260
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ (4)	2,021			2,017
Stock issued for stock incentive plans, net (in shares)	(135)
Stock purchased and retired	$ (10)	(2,021)	2,025		(6)
Stock purchased and retired (in shares)	(2)
Net income (loss)			(25,093)		(25,093)
Pension adjustment, net of taxes				186	186
Foreign currency translation				314	314
Balance at Jun. 30, 2020	$ 21,512		649,844	(22,703)	648,653
Balance (in shares) at Jun. 30, 2020	215,123
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ (5)	5,212			5,207
Stock issued for stock incentive plans, net (in shares)	(54)
Stock purchased and retired		(5,212)	5,183		(29)
Stock purchased and retired (in shares)	(2)
Net income (loss)			(16,437)		(16,437)
Pension adjustment, net of taxes				186	186
Foreign currency translation				(25)	(25)
Balance at Sep. 30, 2020	$ 21,507		638,590	(22,542)	637,555
Balance (in shares) at Sep. 30, 2020	215,067
Balance at Dec. 31, 2020	$ 21,495		627,778	(17,706)	631,567
Balance (in shares) at Dec. 31, 2020	214,951
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ 93	1,446			1,539
Stock issued for stock incentive plans, net (in shares)	924
Stock purchased and retired	$ (14)	(1,446)	903		(557)
Stock purchased and retired (in shares)	(140)
Net income (loss)			(9,662)		(9,662)
Pension adjustment, net of taxes				153	153
Foreign currency translation				136	136
Balance at Mar. 31, 2021	$ 21,574		619,019	(17,417)	623,176
Balance (in shares) at Mar. 31, 2021	215,735
Balance at Dec. 31, 2020	$ 21,495		627,778	(17,706)	631,567
Balance (in shares) at Dec. 31, 2020	214,951
Increase (Decrease) in Stockholders' Equity
Net income (loss)					(5,122)
Foreign currency translation					(34)
Balance at Sep. 30, 2021	$ 21,564		626,501	(17,282)	630,783
Balance (in shares) at Sep. 30, 2021	215,643
Balance at Mar. 31, 2021	$ 21,574		619,019	(17,417)	623,176
Balance (in shares) at Mar. 31, 2021	215,735
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ (1)	1,472			1,471
Stock issued for stock incentive plans, net (in shares)	(9)
Stock purchased and retired		(1,472)	1,463		(9)
Stock purchased and retired (in shares)	(1)
Net income (loss)			(726)		(726)
Pension adjustment, net of taxes				153	153
Foreign currency translation				69	69
Balance at Jun. 30, 2021	$ 21,573		619,756	(17,195)	624,134
Balance (in shares) at Jun. 30, 2021	215,725
Increase (Decrease) in Stockholders' Equity
Stock issued for stock incentive plans, net	$ (9)	1,480			1,471
Stock issued for stock incentive plans, net (in shares)	(82)
Stock purchased and retired		$ (1,480)	1,479		(1)
Net income (loss)			5,266		5,266
Pension adjustment, net of taxes				152	152
Foreign currency translation				(239)	(239)
Balance at Sep. 30, 2021	$ 21,564		$ 626,501	$ (17,282)	$ 630,783
Balance (in shares) at Sep. 30, 2021	215,643

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
OPERATING ACTIVITIES
Net income (loss)	$ (5,122)	$ (201,953)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and other non-cash charges	53,754	77,582
Stock-based compensation expense	4,481	9,321
Gain on disposition of assets, net	(7,408)	(7,576)
Deferred income tax benefit	(4,385)	(35,901)
Impairment and other non-cash charges		205,299
(Increase) decrease in assets:
Accounts receivable	(71,702)	119,272
Income taxes receivable	31,922	(40,163)
Inventories	3,044	16,234
Prepaid expenses	4,754	6,309
Other current assets	140	(70)
Other non-current assets	(982)	(1,393)
Increase (decrease) in liabilities:
Accounts payable	17,562	(4,628)
Income taxes payable	(426)	1,433
Accrued payroll and related expenses	(1,282)	(1,706)
Accrued insurance expenses	1,066	(585)
Accrued state, local and other taxes	1,815	3,180
Other accrued expenses	(2,575)	(5,181)
Pension liabilities	(1,526)	(6,163)
Long-term accrued insurance expenses	1,830	137
Other long-term liabilities	1,456	(2,084)
Net cash provided by operating activities	26,416	131,364
INVESTING ACTIVITIES
Capital expenditures	(44,925)	(52,313)
Proceeds from sale of assets	15,811	17,372
Net cash used for investing activities	(29,114)	(34,941)
FINANCING ACTIVITIES
Cash paid for common stock purchased and retired	(567)	(827)
Cash paid for finance lease	(396)
Net cash used for financing activities	(963)	(827)
Net (decrease) increase in cash and cash equivalents	(3,661)	95,596
Cash and cash equivalents at beginning of period	84,496	50,023
Cash and cash equivalents at end of period	80,835	145,619
Supplemental cash flows disclosure:
Income taxes refund, net	(25,435)	(10,137)
Supplemental disclosure of noncash investing activities:
Capital expenditures included in accounts payable	$ 6,077	$ 4,992

GENERAL

GENERAL	9 Months Ended
GENERAL	Sep. 30, 2021
GENERAL
GENERAL	1. GENERAL The accompanying unaudited consolidated financial statements include the accounts of RPC, Inc. and its wholly-owned subsidiaries (“RPC” or the “Company”) and have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 810, “Consolidation” and Rule 3A-02(a) of Regulation S-X. In accordance with ASC Topic 810 and Rule 3A-02 (a) of Regulation S-X, the Company’s policy is to consolidate all subsidiaries and investees where it has voting control. In the opinion of management, all adjustments (all of which consisted of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020. A group that includes the Company’s Chairman of the Board, Gary W. Rollins, controls in excess of fifty percent

RECENT ACCOUNTING STANDARDS

RECENT ACCOUNTING STANDARDS	9 Months Ended
RECENT ACCOUNTING STANDARDS	Sep. 30, 2021
RECENT ACCOUNTING STANDARDS
RECENT ACCOUNTING STANDARDS	2. RECENT ACCOUNTING STANDARDS The FASB issued the following applicable Accounting Standards Updates (ASU): Recently Adopted Accounting Standards: ● Accounting Standards Update (ASU) No. 2019-12 — Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing the exceptions to the incremental approach for intra-period tax allocation in certain situations, requirement to recognize a deferred tax liability for a change in the status of a foreign investment, and the general methodology for computing income taxes in an interim period when year-to date loss exceeds the anticipated loss for the year. The amendments also simplify the accounting for income taxes with regard to franchise tax, evaluation of step up in the tax basis goodwill in certain business combinations, allocating current and deferred tax expense to legal entities that are not subject to tax and enacted change in tax laws or rates. The Company adopted these provisions in the first quarter of 2021 and the adoption did not have a material impact on its consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted: ● ASU No. 2020-04 — Reference Rate Reform (Topic 848): The amendments in this ASU, provides optional guidance for a limited time to ease the impact of the reference rate reform on financial reporting. The amendments, which are elective, provide expedients to contract modifications, affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or other reference rate that is expected to be discontinued due to reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. The Company will adopt these provisions when LIBOR is discontinued, and does not expect adoption to have a material impact on its consolidated financial statements.

REVENUES

REVENUES	9 Months Ended
REVENUES	Sep. 30, 2021
REVENUES
REVENUES	3. REVENUES Accounting Policy: RPC’s contract revenues are generated principally from providing oilfield services. These services are based on mutually agreed upon pricing with the customer prior to the services being delivered and, given the nature of the services, do not include the right of return. Pricing for these services is a function of rates based on the nature of the specific job, with consideration for the extent of equipment, labor, and consumables needed for the job. RPC typically satisfies its performance obligations over time as the services are performed. RPC records revenues based on the transaction price agreed upon with its customers. Sales tax charged to customers is presented on a net basis within the consolidated statements of operations and therefore excluded from revenues. Nature of services: RPC provides a broad range of specialized oilfield services to independent and major oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets. RPC manages its business as either (1) services offered on the well site with equipment and personnel (Technical Services) or (2) services and tools offered off the well site (Support Services). For more detailed information about operating segments, see Note 7. RPC contracts with its customers to provide the following services by reportable segment: Technical Services ● Support Services ● ● Our contracts with customers are generally very short-term in nature and generally consist of a single performance obligation – the provision of oilfield services. Payment terms: RPC’s contracts with customers state the final terms of the sales, including the description, quantity, and price of each service to be delivered. The Company’s contracts are generally short-term in nature and in most situations, RPC provides services ahead of payment - i.e., RPC has fulfilled the performance obligation prior to submitting a customer invoice. RPC invoices the customer upon completion of the specified services and collection generally occurs between Significant judgments: RPC believes the output method is a reasonable measure of progress for the satisfaction of our performance obligations, which are satisfied over time, as it provides a faithful depiction of (1) our performance toward complete satisfaction of the performance obligation under the contract and (2) the value transferred to the customer of the services performed under the contract. RPC has elected the right to invoice practical expedient for recognizing revenue related to its performance obligations. Disaggregation of revenues: See Note 7 for disaggregation of revenue by operating segment and services offered in each of them and by geographic regions. Timing of revenue recognition for each of the periods presented is shown below: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Oilfield services transferred at a point in time $ — $ — $ — $ — Oilfield services transferred over time 225,310 116,588 596,677 449,665 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665 Contract balances: Contract assets representing the Company’s rights to consideration for work completed but not billed are included in accounts receivable, net on the consolidated balance sheets are shown below: September 30, December 31, (in thousands) 2021 2020 Unbilled trade receivables $ 52,710 $ 29,574 Substantially all of the unbilled trade receivables disclosed were or are expected to be invoiced during the following quarter.

IMPAIRMENT AND OTHER CHARGES

IMPAIRMENT AND OTHER CHARGES	9 Months Ended
IMPAIRMENT AND OTHER CHARGES	Sep. 30, 2021
IMPAIRMENT AND OTHER CHARGES
IMPAIRMENT AND OTHER CHARGES	4. IMPAIRMENT AND OTHER CHARGES The Company recorded the following pre-tax charges during the three and nine months ended September 30, 2021 and 2020 which are reflected in “Impairment and other charges” in the consolidated statements of operations: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Long Lived Asset Impairments (1) $ — $ — $ — $ 204,765 Severance Costs — — — 1,882 Other (2) — — — 528 Total $ — $ — $ — $ 207,175 (1). (2). See Note 7 for details of impairment and other charges by segment .

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	5. EARNINGS PER SHARE Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table sets forth the restricted shares of common stock (participating securities) outstanding and a reconciliation of outstanding weighted average shares: Three months ended Nine months ended September 30 September 30 (In thousands) 2021 2020 2021 2020 Net income (loss) available for stockholders: $ 5,266 $ (16,437) $ (5,122) $ (201,953) Less: Adjustments for earnings attributable to participating securities (41) — — — Net income (loss) used in calculating earnings per share $ 5,225 $ (16,437) $ (5,122) $ (201,953) Weighted average shares outstanding (including participating securities) 215,677 215,083 215,648 215,088 Adjustment for participating securities (2,649) (2,539) (2,665) (2,697) Shares used in calculating basic and diluted earnings per share 213,028 212,544 212,983 212,391

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Sep. 30, 2021
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	6. STOCK-BASED COMPENSATION In April 2014, the Company reserved 8,000,000 shares of common stock under the 2014 Stock Incentive Plan with a term of 10 years expiring in April 2024. This plan provides for the issuance of various forms of stock incentives, including, among others incentive and non-qualified stock options and restricted shares. As of September 30, 2021, there were 3,180,060 shares available for grant. During the third quarter of 2020, the Company recorded $3.3 million of accelerated amortization of restricted stock related to the passing of R. Randall Rollins, RPC’s chairman. Stock-based employee compensation expense was as follows for the periods indicated: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Pre-tax expense $ 1,471 $ 5,207 $ 4,481 $ 9,321 After tax expense $ 1,103 $ 3,419 $ 3,360 $ 6,525 Restricted Stock The following is a summary of the changes in non-vested restricted shares for the nine months ended September 30, 2021: Weighted Average Shares Grant-Date Fair Value Non-vested shares at December 31, 2020 2,235,179 $ 6.81 Granted 1,010,700 3.87 Vested (434,208) 14.96 Forfeited (177,980) 7.72 Non-vested shares at September 30, 2021 2,633,691 $ 7.89 The total fair value of shares vested was $1,757,000 during the nine months ended September 30, 2021 and $3,452,000 during the nine months ended September 30, 2020. Excess tax benefits or deficits realized from tax compensation deductions in excess of, or lower than compensation expense are recorded as either a beneficial or detrimental discrete income tax adjustment. This was a detrimental adjustment of $1,164,000 for the nine months ended September 30, 2021 and a detrimental adjustment of $2,241,000 for the nine months ended September 30, 2020. As of September 30, 2021, total unrecognized compensation cost related to non-vested restricted shares was $40,322,000 which is expected to be recognized over a weighted-average period of 4.1 years.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
BUSINESS SEGMENT INFORMATION	Sep. 30, 2021
BUSINESS SEGMENT INFORMATION
BUSINESS SEGMENT INFORMATION	7. BUSINESS SEGMENT INFORMATION RPC’s reportable segments are the same as its operating segments. RPC manages its business under Technical Services and Support Services. Technical Services is comprised of service lines that generate revenue based on equipment, personnel or materials at the well site and are closely aligned with completion and production activities of the customers. Support Services is comprised of service lines which generate revenue from services and tools offered off the well site and are more closely aligned with the customers’ drilling activities. Selected overhead including centralized support services and regulatory compliance are classified as Corporate. Technical Services consists primarily of pressure pumping, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline and fishing. The services offered under Technical Services are high capital and personnel intensive businesses. The Company considers all of these services to be closely integrated oil and gas well servicing businesses, and makes resource allocation and performance assessment decisions based on this operating segment as a whole across these various services. Support Services consist primarily of drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training and consulting services. The demand for these services tends to be influenced primarily by customer drilling-related activity levels. The Company’s Chief Operating Decision Maker (“CODM”) assesses performance and makes resource allocation decisions regarding, among others, staffing, growth and maintenance capital expenditures and key initiatives based on the operating segments outlined above. Segment Revenues: RPC’s operating segment revenues by major service lines are shown in the following table: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Technical Services: Pressure Pumping $ 96,322 $ 43,133 $ 243,401 $ 163,614 Downhole Tools 61,979 34,331 177,209 148,994 Coiled Tubing 26,733 12,407 61,900 37,619 Nitrogen 8,996 8,281 28,195 23,834 Snubbing 3,748 1,974 10,685 5,371 All other 14,064 9,152 39,212 38,079 Total Technical Services $ 211,842 $ 109,278 $ 560,602 $ 417,511 Support Services: Rental Tools $ 8,545 $ 3,752 $ 23,126 $ 19,227 All other 4,923 3,558 12,949 12,927 Total Support Services $ 13,468 $ 7,310 $ 36,075 $ 32,154 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665 The following summarizes revenues for the United States and separately for all international locations combined for the three and nine months ended September 30, 2021 and 2020. The revenues are presented based on the location of the use of the equipment or services. Assets related to international operations are less than 10 percent of RPC’s consolidated assets, and therefore are not presented. Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 United States revenues $ 217,711 $ 110,823 $ 572,170 $ 421,323 International revenues 7,599 5,765 24,507 28,342 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665 The accounting policies of the reportable segments are the same as those referenced in Note 1 to these consolidated financial statements. RPC evaluates the performance of its segments based on revenues, operating profits and return on invested capital. Gains or losses on disposition of assets are reviewed by the CODM on a consolidated basis, and accordingly the Company does not report gains or losses at the segment level. Inter-segment revenues are generally recorded in segment operating results at prices that management believes approximate prices for arm’s length transactions and are not material to operating results. Summarized financial information with respect RPC’s reportable segments for the three and nine months ended September 30, 2021 and 2020 are shown in the following table: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Revenues: Technical Services $ 211,842 $ 109,278 $ 560,602 $ 417,511 Support Services 13,468 7,310 36,075 32,154 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665 Operating income (loss): Technical Services $ 8,272 $ (24,941) $ 3,938 $ (71,248) Support Services (55) (3,840) (5,353) (4,139) Corporate Expenses (3,080) (6,534) (9,760) (13,003) Impairment and Other Charges (1) — — — (207,175) Gain on disposition of assets, net 2,837 3,563 7,408 7,576 Total operating income (loss) $ 7,974 $ (31,752) $ (3,767) $ (287,989) Interest expense (1,280) (73) (1,763) (257) Interest income 15 29 47 431 Other income (expense), net 448 769 1,571 (1,020) Income (loss) before income taxes $ 7,157 $ (31,027) $ (3,912) $ (288,835) (1) Represents $541 related to Corporate and the remainder to Technical Services. As of and for the nine months ended Technical Support September 30, 2021 Services Services Corporate Total (in thousands) Depreciation and amortization $ 46,341 $ 7,232 $ 202 $ 53,775 Capital expenditures 38,794 5,436 695 44,925 Identifiable assets $ 556,385 $ 74,135 $ 196,120 $ 826,640 As of and for the nine months ended Technical Support September 30, 2020 Services Services Corporate Total (in thousands) Depreciation and amortization $ 77,224 $ 5,088 $ 209 $ 77,521 Capital expenditures 43,437 8,338 538 52,313 Identifiable assets $ 475,168 $ 64,463 $ 261,246 $ 800,877

CURRENT EXPECTED CREDIT LOSSES

CURRENT EXPECTED CREDIT LOSSES	9 Months Ended
CURRENT EXPECTED CREDIT LOSSES	Sep. 30, 2021
CURRENT EXPECTED CREDIT LOSSES
CURRENT EXPECTED CREDIT LOSSES	8. CURRENT EXPECTED CREDIT LOSSES The Company utilizes an expected credit loss model for valuing its accounts receivable, a financial asset measured at amortized cost. The Company is exposed to credit losses primarily from providing oilfield services. The Company’s expected credit loss allowance for accounts receivable is based on historical collection experience, current and future economic and market conditions and a review of the current status of customers’ account receivable balances. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers’ financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible and recoveries of amounts previously written off are recorded when collected. Estimates used to determine the allowance for current expected credit losses are based on an assessment of anticipated payment and all other historical, current and future information that is reasonably available. The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected: Nine months ended September 30, 2021 2020 (in thousands) Beginning balance $ 4,815 $ 5,181 Provision (benefit) for current expected credit losses 3,848 (448) Write-offs (1,330) (315) Recoveries collected (net of expenses) 9 (8) Ending balance $ 7,342 $ 4,410

INVENTORIES

INVENTORIES	9 Months Ended
INVENTORIES	Sep. 30, 2021
INVENTORIES
INVENTORIES	9. INVENTORIES Inventories consist of (i) raw materials and supplies that are consumed providing services to the Company’s customers, (ii) spare parts for equipment used in providing these services and (iii) components and attachments for manufactured equipment used in providing services. In the table below, spare parts and components are included as part of raw materials and supplies; tools that are assembled using components are reported as finished goods. Inventories are recorded at the lower of cost or net realizable value. Cost is determined using first-in, first-out method or the weighted average cost method. September 30, December 31, 2021 2020 (in thousands) Raw materials and supplies $ 78,298 $ 81,278 Finished goods 1,583 1,640 Ending balance $ 79,881 $ 82,918

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Sales and Use Taxes - The Company has ongoing sales and use tax audits in various jurisdictions and may be subjected to varying interpretations of statute that could result in unfavorable outcomes. In accordance with ASC 450-20, Loss Contingencies, any probable and reasonable estimate of assessment costs have been included in accrued state, local and other taxes. The Company received a state tax notification of audit results related to sales and use tax on July 12, 2021. The Company and its outside legal counsel continue to evaluate the perceived merits of the tax assessment. The Company believes the likelihood of a material loss related to this contingency is remote and cannot be reasonably estimated at this time. Therefore, no loss has been recorded and the Company currently does not believe the resolution of this claim will have a material impact on its consolidated financial position, results of operations or cash flows. During the quarter, the Company recorded an estimated liability of $4.5 million to reflect the resolution of a long-term contractual dispute with a vendor which is disclosed as part of accrued insurance expense on the consolidated balance sheet; $3.3 million of the total amount has been included in cost of revenues and the remainder in interest expense.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	9 Months Ended
EMPLOYEE BENEFIT PLAN	Sep. 30, 2021
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	11. EMPLOYEE BENEFIT PLAN The following represents the net periodic benefit cost and related components of the Company’s multiple employers Retirement Income Plan: Three months ended September 30, Nine months ended September 30, (in thousands) 2021 2020 2021 2020 Interest cost $ 247 $ 411 $ 741 $ 1,234 Expected return on plan assets (378) (395) (1,132) (1,186) Amortization of net losses 202 246 606 739 Net periodic benefit cost $ 71 $ 262 $ 215 $ 787 The Company did not make a contribution to this plan during the nine months ended September 30, 2021 or September 30, 2020. In October 2020, the Company amended the Retirement Income Plan to add a limited lump-sum payment window for vested terminated participants who had terminated employment before July 1, 2020 and for active employees who reached age 59 ½ The Company permits selected highly compensated employees to defer a portion of their compensation into the non-qualified Supplemental Retirement Plan (“SERP”). The Company maintains certain securities primarily in mutual funds and company-owned life insurance (“COLI”) policies as a funding source to satisfy the obligation of the SERP that have been classified as trading, and are stated at fair value totaling $31.6 million as of September 30, 2021 and $32.0 million as of December 31, 2020. Trading gains related to the SERP assets totaled approximately $407 thousand during the three months ended September 30, 2021, compared to trading gains of approximately $1.1 million during the three months ended September 30, 2020. Trading gains related to the SERP assets totaled approximately $2.5 million during the nine months ended September 30, 2021, compared to trading gains of approximately $178 thousand during the nine months ended September 30, 2020. The SERP assets are reported in non-current other assets on the consolidated balance sheets and changes in the fair value of these assets are reported in the consolidated statements of operations as compensation cost in selling, general and administrative expenses. The SERP liabilities includes participant deferrals net of distributions and are stated at fair value of approximately $29.3 million as of September 30, 2021 and $29.7 million as of December 31, 2020. The SERP liabilities are reported on the consolidated balance sheets in long-term pension liabilities and any change in the fair value is recorded as compensation cost within selling, general and administrative expenses in the consolidated statements of operations. Changes in the fair value of the SERP liabilities represented unrealized gains of approximately $502 thousand during the three months ended September 30, 2021, compared to unrealized gains of approximately $1.2 million during the three months ended September 30, 2020. Changes in the fair value of the SERP liabilities represented unrealized gains of approximately $2.8 million during the nine months ended September 30, 2021, compared to unrealized gains of approximately $486 thousand during the nine months ended September 30, 2020.

NOTES PAYABLE TO BANKS

NOTES PAYABLE TO BANKS	9 Months Ended
NOTES PAYABLE TO BANKS	Sep. 30, 2021
NOTES PAYABLE TO BANKS
NOTES PAYABLE TO BANKS	12. NOTES PAYABLE TO BANKS The Company has a revolving Credit Agreement with Bank of America and four other lenders which provides for a line of credit of up to $100 million, including a $35 million letter of credit subfacility, and a $35 million swingline subfacility. The facility contains customary terms and conditions, including restrictions on indebtedness, dividend payments, business combinations and other related items. The revolving credit facility includes a full and unconditional guarantee by the Company's 100 percent owned domestic subsidiaries whose assets equal substantially all of the consolidated assets of the Company and its subsidiaries. Certain of the Company’s minor subsidiaries are not guarantors. The Credit Agreement’s maturity date is July 26, 2023. During the third quarter of 2020, the Company entered into Amendment No. 5 to Credit Agreement (the “Amendment”). This Amendment (1) reduced the maximum amount available for borrowing under the credit facility from $125 million to $100 million, (2) decreased the minimum tangible net worth covenant level from not less than $600 million to not less than $400 million, and (3) increased the margin spreads and commitment fees payable by RPC by 37.5 and 5 basis points, respectively, at each pricing level of the applicable rate without any changes to the leverage ratios used to calculate such spreads. The Credit Agreement includes the following covenants: (i) when RPC’s trailing four quarter EBITDA (as calculated under the Credit Agreement) is equal to or greater than $50 million, a maximum consolidated leverage ratio of 2.50:1.00 and a minimum debt service coverage ratio of 2.00:1.00, and (ii) when RPC’s trailing four quarter EBITDA is less than $50 million, a minimum tangible net worth of no less than $400 million. As of September 30, 2021, the Company was in compliance with these covenants. Revolving loans under the amended revolving credit facility bear interest at one of the following two rates at the Company’s election: ● the Eurodollar Rate, which is the rate per annum equal to the London Interbank Offering Rate (“LIBOR”); plus, a margin ranging from 1.5 % to 2.5 %, based on a quarterly consolidated leverage ratio calculation; or ● the Base Rate, which is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50 %, (b) Bank of America’s publicly announced “prime rate,” and (c) the Eurodollar Rate plus 1.00 %; in each case plus a margin that ranges from 0.5 % to 1.5 % based on a quarterly consolidated leverage ratio calculation. In addition, the Company pays an annual fee ranging from 0.20% to 0.30%, based on a quarterly consolidated leverage ratio calculation, on the unused portion of the credit facility. The Company has incurred total loan origination fees and other debt related costs associated with this revolving credit facility in the aggregate of approximately $3.4 million. These costs are being amortized to interest expense over the remaining term of the loan, and the remaining unamortized balance of $0.2 million at September 30, 2021 is classified as part of non-current other assets. As of September 30, 2021, RPC had no outstanding borrowings under the revolving credit facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaled $17.7 million; therefore, a total of $82.3 million of the facility was available. Interest incurred, which includes facility fees on the unused portion of the revolving credit facility and the amortization of loan cost, and interest paid on the credit facility were as follows for the periods indicated: Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Interest incurred $ 86 $ 20 $ 192 $ 173 Interest paid 42 40 124 120

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2021
INCOME TAXES
INCOME TAXES	13. INCOME TAXES The Company generally determines its periodic income tax expense or benefit based upon the current period income or loss and the annual estimated tax rate for the Company adjusted for discrete items including changes to prior period estimates. In certain instances the Company uses the discrete method when it believes the actual year-to-date effective rate provides a more reliable estimate of its income tax rate for the period. The estimated tax rate is revised, if necessary, as of the end of each successive interim period during the fiscal year to the Company’s current annual estimated tax rate. For the three months ended September 30, 2021, the effective rate reflects a provision of 26.4 percent compared to a benefit of 47.0 percent for the comparable period in the prior year. For the nine months ended September 30, 2021, the effective rate reflects a provision of 30.9 percent compared to a benefit of 30.1 percent for the comparable period in the prior year. The effective tax rate is mainly related to the unfavorable permanent adjustments together with detrimental discrete adjustments related to restricted stock vesting and approximately $0.6 million related to the employee retention credit.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
FAIR VALUE DISCLOSURES	Sep. 30, 2021
FAIR VALUE DISCLOSURES
FAIR VALUE DISCLOSURES	14. FAIR VALUE DISCLOSURES The various inputs used to measure assets at fair value establish a hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of nine broad levels as follows: 1. 2. 3. The following table summarizes the valuation of financial instruments measured at fair value on a recurring basis in the balance sheets as of September 30, 2021 and December 31, 2020: Fair Value Measurements at September 30, 2021 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Equity securities $ 180 $ 180 $ — $ — Investments measured at net asset value $ 31,591 Fair Value Measurements at December 31, 2020 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Equity securities $ 132 $ 132 $ — $ — Investments measured at net asset value $ 32,039 The Company determines the fair value of equity securities that have a readily determinable fair value through quoted market prices. The total fair value is the final closing price, as defined by the exchange in which the asset is actively traded, on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs. Marketable securities comprised of the SERP assets, are recorded primarily at their net cash surrender values, calculated using their net asset values, which approximates fair value, as provided by the issuing insurance or investment company. Significant observable inputs, in addition to quoted market prices, were used to value the trading securities. The Company’s policy is to recognize transfers between levels at the beginning of quarterly reporting periods. For the quarter ended September 30, 2021, there were no significant transfers in or out of levels 1, 2 or 3. Under the Company’s revolving credit facility, there was no balance outstanding at September 30, 2021 and December 31, 2020. Borrowings under our revolving credit facility are typically based on the quote from the lender (level 2 inputs), which approximates fair value, and bear variable interest rates as described in Note 11. The Company is subject to interest rate risk on the variable component of the interest rate. The carrying amounts of other financial instruments reported in the balance sheet for current assets and current liabilities approximate their fair values because of the short maturity of these instruments. The Company currently does not use the fair value option to measure any of its existing financial instruments and has not determined whether it will elect this option for financial instruments acquired in the future. The Company’s real estate classified as held for sale has been stated at fair value less costs. The fair value measurement was based on observable market data that includes estimated values per square foot involving comparable properties in similar locations. The non-recurring fair value measurement of both these asset categories are reflected in the table below: Fair Value Measurements at September 30, 2021 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Assets held for sale $ 692 $ — $ 692 $ — Fair Value Measurements at December 31, 2020 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Assets held for sale $ 4,032 $ — $ 4,032 $ —

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	Sep. 30, 2021
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	15. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive (loss) income consists of the following (in thousands): Foreign Pension Currency Adjustment Translation Total Balance at December 31, 2020 $ (15,181) $ (2,525) $ (17,706) Change during the period: Before-tax amount — (34) (34) Reclassification adjustment, net of taxes: Amortization of net loss (1) 458 — 458 Total activity for the period 458 (34) 424 Balance at September 30, 2021 $ (14,723) $ (2,559) $ (17,282) (1) Reported as part of selling, general and administrative expenses. Foreign Pension Currency Adjustment Translation Total Balance at December 31, 2019 $ (20,908) $ (2,315) $ (23,223) Change during the period: Before-tax amount — (423) (423) Reclassification adjustment, net of taxes: Amortization of net loss (1) 1,104 — 1,104 Total activity for the period 1,104 (423) 681 Balance at September 30, 2020 $ (19,804) $ (2,738) $ (22,542) (1) Reported as part of selling, general and administrative expenses.

LEASES_

LEASES:	9 Months Ended
LEASES:	Sep. 30, 2021
LEASES:
LEASES:	16. LEASES : During the third quarter of 2021, the Company entered into two Agreements (Agreement 1 and Agreement 2) for certain operating equipment rentals with an industrial manufacturer. Per the terms of Agreement 1, the equipment is being rented for one year and RPC is required to purchase the assets at the end of the lease term for the guaranteed purchase price less the monthly amounts paid during the year. As a result, the Company classified this arrangement as a finance lease and recorded the lease liability using its one year incremental borrowing rate. At the initiation of the lease, the Company recorded finance lease right-of-use assets and short –term finance Per the terms of Agreement 2, certain operating equipment is being rented for one year with variable lease payments based on usage. The Company evaluated the terms of the terms of the contract and concluded that the arrangement contains a lease since it has the rights to obtain substantially all of the economic benefits and to direct the use of the operating equipment. In addition the Company has made an accounting policy election to account for this as a short-term lease and therefore not recognize a related right-of-use asset or lease liability. Lease Costs (in thousands): Finance lease costs are comprised of amortization of leased assets of $363 and interest on lease liabilities of $29. Operating lease costs related to the lease described above total approximately $152. Undiscounted cash flows (in thousands): As of September 30, 2021, projected future lease payments on the finance lease total $21,675 scheduled to be paid as follows: $1,275 in 2021 and $20,400 in 2022, with amounts representing interest of $293 over the term of the lease. Other information: Weighted average remaining lease term – finance lease (months) 11 months Weighted average discount rate – finance lease 1.682 %

RECENT ACCOUNTING STANDARDS (Po

RECENT ACCOUNTING STANDARDS (Policies)	9 Months Ended
RECENT ACCOUNTING STANDARDS (Policies)	Sep. 30, 2021
RECENT ACCOUNTING STANDARDS
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards: ● Accounting Standards Update (ASU) No. 2019-12 — Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing the exceptions to the incremental approach for intra-period tax allocation in certain situations, requirement to recognize a deferred tax liability for a change in the status of a foreign investment, and the general methodology for computing income taxes in an interim period when year-to date loss exceeds the anticipated loss for the year. The amendments also simplify the accounting for income taxes with regard to franchise tax, evaluation of step up in the tax basis goodwill in certain business combinations, allocating current and deferred tax expense to legal entities that are not subject to tax and enacted change in tax laws or rates. The Company adopted these provisions in the first quarter of 2021 and the adoption did not have a material impact on its consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted: ● ASU No. 2020-04 — Reference Rate Reform (Topic 848): The amendments in this ASU, provides optional guidance for a limited time to ease the impact of the reference rate reform on financial reporting. The amendments, which are elective, provide expedients to contract modifications, affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or other reference rate that is expected to be discontinued due to reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. The Company will adopt these provisions when LIBOR is discontinued, and does not expect adoption to have a material impact on its consolidated financial statements.
Revenues	RPC’s contract revenues are generated principally from providing oilfield services. These services are based on mutually agreed upon pricing with the customer prior to the services being delivered and, given the nature of the services, do not include the right of return. Pricing for these services is a function of rates based on the nature of the specific job, with consideration for the extent of equipment, labor, and consumables needed for the job. RPC typically satisfies its performance obligations over time as the services are performed. RPC records revenues based on the transaction price agreed upon with its customers. Sales tax charged to customers is presented on a net basis within the consolidated statements of operations and therefore excluded from revenues.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
REVENUES (Tables)	Sep. 30, 2021
REVENUES
Schedule of disaggregation of revenues	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Oilfield services transferred at a point in time $ — $ — $ — $ — Oilfield services transferred over time 225,310 116,588 596,677 449,665 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665
Schedule of contract assets included in accounts receivable	September 30, December 31, (in thousands) 2021 2020 Unbilled trade receivables $ 52,710 $ 29,574

IMPAIRMENT AND OTHER CHARGES (T

IMPAIRMENT AND OTHER CHARGES (Tables)	9 Months Ended
IMPAIRMENT AND OTHER CHARGES (Tables)	Sep. 30, 2021
IMPAIRMENT AND OTHER CHARGES
Schedule of impairment and other charges	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Long Lived Asset Impairments (1) $ — $ — $ — $ 204,765 Severance Costs — — — 1,882 Other (2) — — — 528 Total $ — $ — $ — $ 207,175 (1). (2).

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2021
EARNINGS PER SHARE
Schedule of reconciliation of weighted average shares outstanding	Three months ended Nine months ended September 30 September 30 (In thousands) 2021 2020 2021 2020 Net income (loss) available for stockholders: $ 5,266 $ (16,437) $ (5,122) $ (201,953) Less: Adjustments for earnings attributable to participating securities (41) — — — Net income (loss) used in calculating earnings per share $ 5,225 $ (16,437) $ (5,122) $ (201,953) Weighted average shares outstanding (including participating securities) 215,677 215,083 215,648 215,088 Adjustment for participating securities (2,649) (2,539) (2,665) (2,697) Shares used in calculating basic and diluted earnings per share 213,028 212,544 212,983 212,391

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
STOCK-BASED COMPENSATION (Tables)	Sep. 30, 2021
STOCK-BASED COMPENSATION
Schedule of stock-based employee compensation expense	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Pre-tax expense $ 1,471 $ 5,207 $ 4,481 $ 9,321 After tax expense $ 1,103 $ 3,419 $ 3,360 $ 6,525
Schedule of summary of the changes in non-vested restricted shares	The following is a summary of the changes in non-vested restricted shares for the nine months ended September 30, 2021: Weighted Average Shares Grant-Date Fair Value Non-vested shares at December 31, 2020 2,235,179 $ 6.81 Granted 1,010,700 3.87 Vested (434,208) 14.96 Forfeited (177,980) 7.72 Non-vested shares at September 30, 2021 2,633,691 $ 7.89

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
BUSINESS SEGMENT INFORMATION (Tables)	Sep. 30, 2021
BUSINESS SEGMENT INFORMATION
Schedule of operating segment revenues by major service lines	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Technical Services: Pressure Pumping $ 96,322 $ 43,133 $ 243,401 $ 163,614 Downhole Tools 61,979 34,331 177,209 148,994 Coiled Tubing 26,733 12,407 61,900 37,619 Nitrogen 8,996 8,281 28,195 23,834 Snubbing 3,748 1,974 10,685 5,371 All other 14,064 9,152 39,212 38,079 Total Technical Services $ 211,842 $ 109,278 $ 560,602 $ 417,511 Support Services: Rental Tools $ 8,545 $ 3,752 $ 23,126 $ 19,227 All other 4,923 3,558 12,949 12,927 Total Support Services $ 13,468 $ 7,310 $ 36,075 $ 32,154 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665
Schedule of revenue by geographical location	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 United States revenues $ 217,711 $ 110,823 $ 572,170 $ 421,323 International revenues 7,599 5,765 24,507 28,342 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665
Schedule of segment reporting information by segment	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Revenues: Technical Services $ 211,842 $ 109,278 $ 560,602 $ 417,511 Support Services 13,468 7,310 36,075 32,154 Total revenues $ 225,310 $ 116,588 $ 596,677 $ 449,665 Operating income (loss): Technical Services $ 8,272 $ (24,941) $ 3,938 $ (71,248) Support Services (55) (3,840) (5,353) (4,139) Corporate Expenses (3,080) (6,534) (9,760) (13,003) Impairment and Other Charges (1) — — — (207,175) Gain on disposition of assets, net 2,837 3,563 7,408 7,576 Total operating income (loss) $ 7,974 $ (31,752) $ (3,767) $ (287,989) Interest expense (1,280) (73) (1,763) (257) Interest income 15 29 47 431 Other income (expense), net 448 769 1,571 (1,020) Income (loss) before income taxes $ 7,157 $ (31,027) $ (3,912) $ (288,835) (1) Represents $541 related to Corporate and the remainder to Technical Services. As of and for the nine months ended Technical Support September 30, 2021 Services Services Corporate Total (in thousands) Depreciation and amortization $ 46,341 $ 7,232 $ 202 $ 53,775 Capital expenditures 38,794 5,436 695 44,925 Identifiable assets $ 556,385 $ 74,135 $ 196,120 $ 826,640 As of and for the nine months ended Technical Support September 30, 2020 Services Services Corporate Total (in thousands) Depreciation and amortization $ 77,224 $ 5,088 $ 209 $ 77,521 Capital expenditures 43,437 8,338 538 52,313 Identifiable assets $ 475,168 $ 64,463 $ 261,246 $ 800,877

CURRENT EXPECTED CREDIT LOSSES

CURRENT EXPECTED CREDIT LOSSES (Tables)	9 Months Ended
CURRENT EXPECTED CREDIT LOSSES (Tables)	Sep. 30, 2021
CURRENT EXPECTED CREDIT LOSSES
Schedule of roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected	Nine months ended September 30, 2021 2020 (in thousands) Beginning balance $ 4,815 $ 5,181 Provision (benefit) for current expected credit losses 3,848 (448) Write-offs (1,330) (315) Recoveries collected (net of expenses) 9 (8) Ending balance $ 7,342 $ 4,410

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
INVENTORIES (Tables)	Sep. 30, 2021
INVENTORIES
Schedule of inventory	September 30, December 31, 2021 2020 (in thousands) Raw materials and supplies $ 78,298 $ 81,278 Finished goods 1,583 1,640 Ending balance $ 79,881 $ 82,918

EMPLOYEE BENEFIT PLAN (Tables)

EMPLOYEE BENEFIT PLAN (Tables)	9 Months Ended
EMPLOYEE BENEFIT PLAN (Tables)	Sep. 30, 2021
EMPLOYEE BENEFIT PLAN
Schedule of net periodic benefit cost	Three months ended September 30, Nine months ended September 30, (in thousands) 2021 2020 2021 2020 Interest cost $ 247 $ 411 $ 741 $ 1,234 Expected return on plan assets (378) (395) (1,132) (1,186) Amortization of net losses 202 246 606 739 Net periodic benefit cost $ 71 $ 262 $ 215 $ 787

NOTES PAYABLE TO BANKS (Tables)

NOTES PAYABLE TO BANKS (Tables)	9 Months Ended
NOTES PAYABLE TO BANKS (Tables)	Sep. 30, 2021
NOTES PAYABLE TO BANKS
Schedule of interest incurred and paid on the credit facility, interest capitalized related to facilities and equipment under construction, and the related weighted average interest rates on long term debt	Three months ended Nine months ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Interest incurred $ 86 $ 20 $ 192 $ 173 Interest paid 42 40 124 120

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
FAIR VALUE DISCLOSURES (Tables)	Sep. 30, 2021
FAIR VALUE DISCLOSURES
Schedule of valuation of financial instruments measured at fair value on a recurring basis	Fair Value Measurements at September 30, 2021 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Equity securities $ 180 $ 180 $ — $ — Investments measured at net asset value $ 31,591 Fair Value Measurements at December 31, 2020 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Equity securities $ 132 $ 132 $ — $ — Investments measured at net asset value $ 32,039
Schedule of valuation of financial instruments measured at fair value on a non-recurring basis	Fair Value Measurements at September 30, 2021 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands) Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Assets held for sale $ 692 $ — $ 692 $ — Fair Value Measurements at December 31, 2020 with: Quoted prices in Significant active markets other Significant for identical observable unobservable (in thousands Total assets inputs inputs (Level 1) (Level 2) (Level 3) Assets: Assets held for sale $ 4,032 $ — $ 4,032 $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	Sep. 30, 2021
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Schedule of accumulated other comprehensive (loss) income	Accumulated other comprehensive (loss) income consists of the following (in thousands): Foreign Pension Currency Adjustment Translation Total Balance at December 31, 2020 $ (15,181) $ (2,525) $ (17,706) Change during the period: Before-tax amount — (34) (34) Reclassification adjustment, net of taxes: Amortization of net loss (1) 458 — 458 Total activity for the period 458 (34) 424 Balance at September 30, 2021 $ (14,723) $ (2,559) $ (17,282) (1) Reported as part of selling, general and administrative expenses. Foreign Pension Currency Adjustment Translation Total Balance at December 31, 2019 $ (20,908) $ (2,315) $ (23,223) Change during the period: Before-tax amount — (423) (423) Reclassification adjustment, net of taxes: Amortization of net loss (1) 1,104 — 1,104 Total activity for the period 1,104 (423) 681 Balance at September 30, 2020 $ (19,804) $ (2,738) $ (22,542) (1) Reported as part of selling, general and administrative expenses.

LEASES_ (Tables)

LEASES: (Tables)	9 Months Ended
LEASES: (Tables)	Sep. 30, 2021
LEASES:
Schedule of other information of leases	Weighted average remaining lease term – finance lease (months) 11 months Weighted average discount rate – finance lease 1.682 %

GENERAL - (Details)

GENERAL - (Details)	9 Months Ended
GENERAL - (Details)	Sep. 30, 2021
Chairman of the Board and Director
Ownership control
Voting power (in percent)	50.00%

REVENUES - Payment Terms (Detai

REVENUES - Payment Terms (Details)	9 Months Ended
REVENUES - Payment Terms (Details)	Sep. 30, 2021
Minimum
Revenue satisfaction period	30 days
Maximum
Revenue satisfaction period	60 days

REVENUES - Disaggregation of re

REVENUES - Disaggregation of revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of revenue:
Total revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665
Oilfield services transferred at a point in time
Disaggregation of revenue:
Total revenues	0	0	0	0
Oilfield services transferred over time
Disaggregation of revenue:
Total revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665

REVENUES - Contract balances (D

REVENUES - Contract balances (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts receivable
Disaggregation of revenue:
Unbilled trade receivables	$ 52,710	$ 29,574

IMPAIRMENT AND OTHER CHARGES (D

IMPAIRMENT AND OTHER CHARGES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IMPAIRMENT AND OTHER CHARGES
Long Lived Asset Impairments (1)	$ 0	$ 0	$ 0	$ 204,765
Severance costs	0	0	0	1,882
Other (2)	0	0	0	528
Total	$ 0	$ 0	$ 0	$ 207,175

EARNINGS PER SHARE - (Details)

EARNINGS PER SHARE - (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
EARNINGS PER SHARE
Net income (loss) available for stockholders:	$ 5,266	$ (726)	$ (9,662)	$ (16,437)	$ (25,093)	$ (160,423)	$ (5,122)	$ (201,953)
Less: Adjustments for earnings attributable to participating securities	(41)			0				0
Net income (loss) used in calculating earnings per share	$ 5,225			$ (16,437)			$ (5,122)	$ (201,953)
Weighted average shares outstanding (including participating securities)	215,677			215,083			215,648	215,088
Adjustment for participating securities	(2,649)			(2,539)			(2,665)	(2,697)
Shares used in calculating basic earnings per share	213,028			212,544			212,983	212,391

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	1 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	Apr. 30, 2014	Sep. 30, 2021	Sep. 30, 2020
Stock-based compensation
Stock authorized (in shares)	8,000,000
Term (in years)	10 years
Available for grant (in shares)		3,180,060
Restricted Shares
Stock-based compensation
Accumulated amortization of restricted stock			$ 3.3

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
STOCK-BASED COMPENSATION
Pre-tax expense	$ 1,471	$ 5,207	$ 4,481	$ 9,321
After tax expense	$ 1,103	$ 3,419	$ 3,360	$ 6,525

STOCK-BASED COMPENSATION - Non-

STOCK-BASED COMPENSATION - Non-vested RSU's (Details) - Restricted Shares	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Shares
Non-vested shares at Beginning \| shares	2,235,179
Granted \| shares	1,010,700
Vested \| shares	(434,208)
Forfeited \| shares	(177,980)
Non-vested shares at Ending \| shares	2,633,691
Weighted Average Grant-Date Fair Value
Non-vested shares at Beginning \| $ / shares	$ 6.81
Granted \| $ / shares	3.87
Vested \| $ / shares	14.96
Forfeited \| $ / shares	7.72
Non-vested shares at Ending \| $ / shares	$ 7.89

STOCK-BASED COMPENSATION - Othe

STOCK-BASED COMPENSATION - Other Information (Details) - Restricted Shares - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Stock-based compensation
Fair value, shares vested	$ 1,757,000	$ 3,452,000
Tax (expense) benefits for compensation tax deductions in excess of compensation expense	1,164,000	$ 2,241,000
Unrecognized compensation cost related to non-vested restricted shares	$ 40,322,000
Unrecognized compensation cost related to non-vested restricted shares recognized period	4 years 1 month 6 days

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment information:
Total revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665
Technical Services
Segment information:
Total revenues	211,842	109,278	560,602	417,511
Technical Services \| Pressure Pumping
Segment information:
Total revenues	96,322	43,133	243,401	163,614
Technical Services \| Downhole Tools
Segment information:
Total revenues	61,979	34,331	177,209	148,994
Technical Services \| Coiled Tubing
Segment information:
Total revenues	26,733	12,407	61,900	37,619
Technical Services \| Nitrogen
Segment information:
Total revenues	8,996	8,281	28,195	23,834
Technical Services \| Snubbing
Segment information:
Total revenues	3,748	1,974	10,685	5,371
Technical Services \| All other
Segment information:
Total revenues	14,064	9,152	39,212	38,079
Support Services
Segment information:
Total revenues	13,468	7,310	36,075	32,154
Support Services \| Rental Tools
Segment information:
Total revenues	8,545	3,752	23,126	19,227
Support Services \| All other
Segment information:
Total revenues	$ 4,923	$ 3,558	$ 12,949	$ 12,927

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Geographic (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment information:
Total revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665
United States
Segment information:
Total revenues	217,711	110,823	572,170	421,323
International
Segment information:
Total revenues	$ 7,599	$ 5,765	$ 24,507	$ 28,342

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues	$ 225,310	$ 116,588	$ 596,677	$ 449,665
Operating income (loss):
Operating income (loss)	7,974	(31,752)	(3,767)	(287,989)
Impairment and Other Charges (1)	0	0	0	(207,175)
Gain on disposition of assets, net	2,837	3,563	7,408	7,576
Interest expense	1,280	73	1,763	257
Interest income	15	29	47	431
Other income (expense), net	448	769	1,571	(1,020)
Income (loss) before income taxes	7,157	(31,027)	(3,912)	(288,835)
Depreciation and amortization	18,106	18,655	53,775	77,521
Capital expenditures			44,925	52,313
Identifiable assets	826,640	800,877	826,640	800,877
Technical Services
Revenues:
Revenues	211,842	109,278	560,602	417,511
Operating income (loss):
Operating income (loss)	8,272	(24,941)	3,938	(71,248)
Depreciation and amortization			46,341	77,224
Capital expenditures			38,794	43,437
Identifiable assets	556,385	475,168	556,385	475,168
Support Services
Revenues:
Revenues	13,468	7,310	36,075	32,154
Operating income (loss):
Operating income (loss)	(55)	(3,840)	(5,353)	(4,139)
Depreciation and amortization			7,232	5,088
Capital expenditures			5,436	8,338
Identifiable assets	74,135	64,463	74,135	64,463
Corporate
Operating income (loss):
Operating income (loss)	(3,080)	(6,534)	(9,760)	(13,003)
Impairment and Other Charges (1)	541
Depreciation and amortization			202	209
Capital expenditures			695	538
Identifiable assets	$ 196,120	$ 261,246	$ 196,120	$ 261,246

CURRENT EXPECTED CREDIT LOSSE_2

CURRENT EXPECTED CREDIT LOSSES (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Allowance for doubtful accounts rollforward
Beginning balance	$ 4,815	$ 5,181
Provision (benefit) for current expected credit losses	3,848	(448)
Write-offs	(1,330)	(315)
Recoveries collected (net of expenses)	9	8
Ending balance	$ 7,342	$ 4,410

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
INVENTORIES
Raw materials and supplies	$ 78,298	$ 81,278
Finished goods	1,583	1,640
Ending balance	$ 79,881	$ 82,918

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Sep. 30, 2021USD ($)
COMMITMENTS AND CONTINGENCIES
Estimated liability included in balance sheet	$ 4.5
Estimated liability included in income statement	$ 3.3

EMPLOYEE BENEFIT PLAN - Compone

EMPLOYEE BENEFIT PLAN - Components of net periodic benefit cost (Details) - Retirement Income Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 247	$ 411	$ 741	$ 1,234
Expected return on plan assets	(378)	(395)	(1,132)	(1,186)
Amortization of net losses	202	246	606	739
Net periodic benefit cost	$ 71	$ 262	$ 215	$ 787

EMPLOYEE BENEFIT PLAN - SERP (D

EMPLOYEE BENEFIT PLAN - SERP (Details) - USD ($)	1 Months Ended	3 Months Ended			9 Months Ended
EMPLOYEE BENEFIT PLAN - SERP (Details) - USD ($)	Oct. 31, 2020	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Employer contribution					$ 0	$ 0
Settlement loss			$ (4,700,000)
Unrealized gain/loss due to change in fair value of SERP liabilities		$ (152,000)		$ (186,000)	(458,000)	(1,104,000)
Non-qualified Supplemental Retirement Plan ("SERP")
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		31,600,000	32,000,000		31,600,000
Trading gains (losses), net		407,000		1,100,000	2,500,000	178,000
SERP Liabilities		29,300,000	$ 29,700,000		29,300,000
Unrealized gain/loss due to change in fair value of SERP liabilities		$ 502,000		$ 1,200,000	$ 2,800,000	$ (486,000)
Retirement Income Plan
Defined Benefit Plan Disclosure [Line Items]
Vested balance age	59 years 6 months

NOTES PAYABLE TO BANKS - Intere

NOTES PAYABLE TO BANKS - Interest incurred (Details) - Revolving credit facility - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revolving credit facility
Interest incurred	$ 86	$ 20	$ 192	$ 173
Interest paid	$ 42	$ 40	$ 124	$ 120

NOTES PAYABLE TO BANKS - Credit

NOTES PAYABLE TO BANKS - Credit Facility (Details) $ in Thousands	Sep. 25, 2020USD ($)	Jul. 26, 2018USD ($)	Sep. 30, 2021USD ($)Lender	Sep. 24, 2020USD ($)
Revolving credit facility
Minimum net worth covenant	$ 400,000			$ 600,000
Basis points added	37.50%
Amendment
Revolving credit facility
Minimum EBITDA		$ 50,000
Maximum consolidated leverage ratio		2.50%
Minimum debt service coverage ratio		2.00%
Revolving credit facility
Revolving credit facility
Number of additional credit lenders \| Lender			4
Maximum borrowing capacity	$ 100,000		$ 100,000	$ 125,000
Origination and other costs			3,400
Unamortized origination and other costs			200
Outstanding debt			0
Available credit facility			$ 82,300
Revolving credit facility \| Minimum
Revolving credit facility
Annual fee (as a percent)			0.20%
Revolving credit facility \| Maximum
Revolving credit facility
Annual fee (as a percent)			0.30%
Revolving credit facility \| Amendment
Revolving credit facility
Reduction in commitment fees (in points)	5.00%
Revolving credit facility \| Amendment \| Eurodollar Rate \| LIBOR \| Minimum
Revolving credit facility
Basis points added			1.50%
Revolving credit facility \| Amendment \| Eurodollar Rate \| LIBOR \| Maximum
Revolving credit facility
Basis points added			2.50%
Revolving credit facility \| Amendment \| Base Rate \| Minimum
Revolving credit facility
Basis points added			0.50%
Revolving credit facility \| Amendment \| Base Rate \| Maximum
Revolving credit facility
Basis points added			1.50%
Revolving credit facility \| Amendment \| Base Rate \| Federal Funds Rate
Revolving credit facility
Basis points added			0.50%
Revolving credit facility \| Amendment \| Base Rate \| Eurodollar rate
Revolving credit facility
Basis points added			1.00%
Revolving credit facility \| Letter of credit
Revolving credit facility
Maximum borrowing capacity		$ 50,000	$ 35,000
Outstanding debt			17,700
Revolving credit facility \| Letter of credit \| Amendment
Revolving credit facility
Maximum borrowing capacity		$ 400,000
Revolving credit facility \| Swingline
Revolving credit facility
Maximum borrowing capacity			$ 35,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
INCOME TAXES
Effective tax rate (as a percent)	26.40%	47.00%	30.90%	30.10%
Discrete adjustment related to employee retention credit			$ 0.6

FAIR VALUE DISCLOSURES - Financ

FAIR VALUE DISCLOSURES - Financial instruments measured at fair value on recurring basis (Details) - Fair value on a recurring basis - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Equity securities	$ 180	$ 132
Investments measured at net asset value - trading securities	31,591	32,039
Level 1
Assets:
Equity securities	$ 180	$ 132

FAIR VALUE DISCLOSURES - Fina_2

FAIR VALUE DISCLOSURES - Financial instruments measured at fair value on non-recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Assets held for sale	$ 692	$ 4,032
Fair value on a non-recurring basis
Assets:
Assets held for sale	692	4,032
Fair value on a non-recurring basis \| Level 2
Assets:
Assets held for sale	$ 692	$ 4,032

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
AOCI rollforward
Balance	$ (17,706)	$ (23,223)
Change during the period:
Before-tax amount	(34)	(423)
Reclassification adjustment, net of taxes:
Amortization of net loss	458	1,104
Total activity for the period	424	681
Balance	(17,282)	(22,542)
Pension Adjustment
AOCI rollforward
Balance	(15,181)	(20,908)
Reclassification adjustment, net of taxes:
Amortization of net loss	458	1,104
Total activity for the period	458	1,104
Balance	(14,723)	(19,804)
Foreign Currency Translation
AOCI rollforward
Balance	(2,525)	(2,315)
Change during the period:
Before-tax amount	(34)	(423)
Reclassification adjustment, net of taxes:
Total activity for the period	(34)	(423)
Balance	$ (2,559)	$ (2,738)

LEASES_ - Other Information (De

LEASES: - Other Information (Details)	Sep. 30, 2021
LEASES:
Weighted average remaining lease term - finance lease (months)	11 months
Weighted average discount rate - finance lease	1.682%

LEASES_ - Additional Informatio

LEASES: - Additional Information (Details) $ in Thousands	9 Months Ended
LEASES: - Additional Information (Details) $ in Thousands	Sep. 30, 2021USD ($)
LEASES:
Lease term	1 year
Finance lease right of use assets and short term lease liabilities	$ 21,700
Short term finance lease liabilities	21,382
Amortization of leased assets	363
Interest on lease liabilities	29
Operating lease cost	152
Projected future lease payments	21,675
2021	1,275
2022	20,400
Finance lease interest over the term of lease	$ 293