RPC (RES) 10-Q 3 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 24, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'RPC INC	'
Entity Central Index Key	'0000742278	'
Trading Symbol	'res	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	218,601,969
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$8,522	$8,700
Accounts receivable, net	591,585	437,132
Inventories	153,948	126,604
Deferred income taxes	10,851	14,185
Income taxes receivable	11,081	5,720
Prepaid expenses	5,507	9,143
Other current assets	3,562	3,441
Total current assets	785,056	604,925
Property, plant and equipment, less accumulated depreciation of $1,199,595 in 2014 and $1,069,321 in 2013	775,714	726,307
Goodwill	32,150	31,861
Other assets	23,113	20,767
Total assets	1,616,033	1,383,860
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	182,123	119,170
Accrued payroll and related expenses	41,446	36,638
Accrued insurance expenses	5,526	6,072
Accrued state, local and other taxes	10,609	5,002
Income taxes payable	558	'
Other accrued expenses	1,214	1,170
Total current liabilities	241,476	168,052
Long-term accrued insurance expenses	10,082	10,225
Notes payable to banks	152,000	53,300
Long-term pension liabilities	22,786	21,966
Deferred income taxes	114,459	153,176
Other long-term liabilities	14,285	8,439
Total liabilities	555,088	415,158
Common stock	21,860	21,899
Capital in excess of par value	'	'
Retained earnings	1,049,636	956,918
Accumulated other comprehensive loss	-10,551	-10,115
Total stockholders' equity	1,060,945	968,702
Total liabilities and stockholders' equity	$1,616,033	$1,383,860

CONSOLIDATED_BALANCE_SHEETS_Un1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Accumulated depreciation of property, plant and equipment	$1,199,595	$1,069,321

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Revenues	$620,684	$491,121	$1,705,207	$1,374,508
Cost of revenues (exclusive of items shown below)	398,306	303,707	1,102,596	859,512
Selling, general and administrative expenses	50,814	47,096	147,125	139,621
Depreciation and amortization	57,219	53,211	169,241	158,799
Loss on disposition of assets, net	7,684	1,268	11,321	5,665
Operating profit	106,661	85,839	274,924	210,911
Interest expense	-456	-283	-842	-1,565
Interest income	4	8	14	73
Other (expense) income, net	-454	1,279	457	1,643
Income before income taxes	105,755	86,843	274,553	211,062
Income tax provision	40,870	33,083	106,997	81,810
Net income	$64,885	$53,760	$167,556	$129,252
Earnings per share	'	'	'	'
Basic (in dollars per share)	$0.30	$0.25	$0.78	$0.60
Diluted (in dollars per share)	$0.30	$0.25	$0.77	$0.60
Dividends per share (in dollars per share)	$0.11	$0.10	$0.32	$0.30
Weighted average shares outstanding	'	'	'	'
Basic (in shares)	215,202	215,068	215,200	215,715
Diluted (in shares)	216,334	216,142	216,316	216,862

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement Of Income and Comprehensive Income [Abstract]	'	'	'	'
Net income	$64,885	$53,760	$167,556	$129,252
Other comprehensive income (loss):	'	'	'	'
Pension adjustment and reclassification adjustment, net of taxes	85	125	253	372
Foreign currency translation	-649	214	-653	-413
Unrealized gain (loss) on securities, net of taxes	-38	28	-36	-2
Comprehensive income	$64,283	$54,127	$167,120	$129,209

CONSOLIDATED_STATEMENT_OF_STOC

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (USD $)	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total
In Thousands, unless otherwise specified
Balance at Dec. 31, 2013	$21,899	'	$956,918	($10,115)	$968,702
Balance (in shares) at Dec. 31, 2013	218,986	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Stock issued for stock incentive plans, net	57	7,058	'	'	7,115
Stock issued for stock incentive plans, net (in shares)	579	'	'	'	'
Stock purchased and retired	-96	-11,436	-6,016	'	-17,548
Stock purchased and retired (in shares)	-963	'	'	'	'
Net income	'	'	167,556	'	167,556
Pension adjustment, net of taxes	'	'	'	253	253
Foreign currency translation	'	'	'	-653	-653
Unrealized loss on securities, net of taxes	'	'	'	-36	-36
Dividends declared	'	'	-68,822	'	-68,822
Excess tax benefits for share- based payments	'	4,378	'	'	4,378
Balance at Sep. 30, 2014	$21,860	'	$1,049,636	($10,551)	$1,060,945
Balance (in shares) at Sep. 30, 2014	218,602	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES	'	'
Net income	$167,556	$129,252
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation, amortization and other non-cash charges	171,382	160,706
Stock-based compensation expense	7,115	6,397
Loss on disposition of assets, net	11,321	5,665
Deferred income tax benefit	-35,508	-10,579
Excess tax benefits for share-based payments	-4,378	-3,157
(Increase) decrease in assets:	'	'
Accounts receivable	-154,687	-2,677
Income taxes receivable	-983	-7,697
Inventories	-27,746	12,392
Prepaid expenses	3,494	5,646
Other current assets	-180	1,095
Other non-current assets	-1,701	-585
Increase (decrease) in liabilities:	'	'
Accounts payable	53,170	10,924
Income taxes payable	558	-6,260
Accrued payroll and related expenses	4,841	1,273
Accrued insurance expenses	-546	-272
Accrued state, local and other taxes	5,607	1,536
Other accrued expenses	38	-1,502
Pension liabilities	1,218	2,121
Long-term accrued insurance expenses	-143	589
Other long-term liabilities	5,846	-1,330
Net cash provided by operating activities	206,274	303,537
INVESTING ACTIVITIES	'	'
Capital expenditures	-237,473	-159,854
Proceeds from sale of assets	14,980	8,578
Net cash used for investing activities	-222,493	-151,276
FINANCING ACTIVITIES	'	'
Payment of dividends	-68,822	-65,923
Borrowings from notes payable to banks	826,800	500,700
Repayments of notes payable to banks	-728,100	-556,300
Debt issue costs for notes payable to banks	-667	'
Excess tax benefits for share-based payments	4,378	3,157
Cash paid for common stock purchased and retired	-17,548	-25,121
Net cash provided by (used for) financing activities	16,041	-143,487
Net (decrease) increase in cash and cash equivalents	-178	8,774
Cash and cash equivalents at beginning of period	8,700	14,163
Cash and cash equivalents at end of period	8,522	22,937
Supplemental cash flows disclosure:	'	'
Interest paid, net of amounts capitalized	836	1,145
Income taxes paid, net	136,647	106,728
Supplemental disclosure of noncash investing activities:	'	'
Capital expenditures included in accounts payable	$29,495	$19,987

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2014
General [Abstract]	'
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 of America 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 nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The balance sheet at December 31, 2013 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, 2013.
	A group that includes the Company’s Chairman of the Board, R. Randall Rollins, and his brother Gary W. Rollins, who is also a director of the Company, and certain companies under their control, controls in excess of fifty percent of the Company’s voting power.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2014
REVENUES	'
REVENUES	'
	2	REVENUES
	RPC’s revenues are generated principally from providing services and the related equipment. Revenues are recognized when the services are rendered and collectability is reasonably assured. Revenues from services and equipment are based on fixed or determinable priced purchase orders or contracts with the customer and do not include the right of return. Rates for services and equipment are priced on a per day, per unit of measure, per man hour or similar basis. Sales tax charged to customers is presented on a net basis within the consolidated statement of operations and excluded from revenues.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2014
RECENT ACCOUNTING PRONOUNCEMENTS	'
RECENT ACCOUNTING PRONOUNCEMENTS	'
	3	RECENT ACCOUNTING PRONOUNCEMENTS
	The Financial Accounting Standards Board (FASB) issued the following applicable Accounting Standards Updates (ASU):
	Recently Adopted Accounting Pronouncements:
		●	Accounting Standards Update 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. The amendments in this ASU require that when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets within a foreign entity, the parent should release the cumulative translation adjustment into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. Sale of an investment in a foreign entity includes both: (1) events that result in the loss of a controlling financial interest in a foreign entity; and (2) events that result in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date. The Company adopted these provisions in the first quarter of 2014 and adoption did not have a material impact on the Company’s consolidated financial statements.
		●	Accounting Standards Update 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in this ASU requires an unrecognized tax benefit, or a portion of thereof, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward. The only exception would be if the deferred taxes related to these items are not available to settle any additional income taxes that would result from the disallowance of a tax position either by statute or at the entity’s choosing. In such cases, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted these provisions in the first quarter of 2014 and adoption did not have a material impact on the Company’s consolidated financial statements.
	Recently Issued Accounting Pronouncements Not Yet Adopted:
		●	Accounting Standards Update No. 2014-15, Presentation of Financial Statements —Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The provisions in this ASU are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. Currently, financial statements are prepared under the presumption that the reporting organization will continue to operate as a going concern, except in limited circumstances. This going concern basis of accounting is critical to financial reporting because it establishes the fundamental basis for measuring and classifying assets and liabilities. This ASU provides guidance regarding management’s responsibility to evaluate whether there is substantial doubt about the organization’s ability to continue as a going concern and the related footnote disclosures. The amendments are effective for the year ending December 31, 2016, and for interim periods beginning the first quarter of 2017, with early application permitted. The Company plans to adopt the provisions for the year ending December 31, 2016 and will provide such disclosures as required if there are conditions and events that raise substantial doubt about its ability to continue as a going concern. The Company currently does not expect the adoption to have a material impact on its consolidated financial statements.
		●	Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply a five step process – (i) identifying the contract(s) with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations in the contract and (v) recognizing revenue when (or as) the entity satisfies a performance obligation. The Company plans to adopt these provisions in the first quarter of 2017 and is currently evaluating the impact of these provisions on its financial statements. Early adoption is not permitted.
		●	Accounting Standards Update 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in the ASU require that 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. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective in the first quarter of 2015 with early adoption permitted. The Company plans to adopt these provisions in the first quarter of 2015 and does not expect the adoption to have a material impact on the Company’s consolidated financial statements.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2014
EARNINGS PER SHARE	'
EARNINGS PER SHARE	'
	4	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. The basic and diluted calculations differ as a result of the dilutive effect of stock options and time lapse restricted shares included in diluted earnings per share, but excluded from basic earnings per share. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities.
	A reconciliation of weighted average shares outstanding is as follows:
			Three months ended						Nine months ended
			30-Sep						30-Sep
	(In thousands except per share data)		2014			2013			2014			2013
	Net income available for stockholders:		$	64,885		$	53,760		$	167,556		$	129,252
	Less: Dividends paid			(22,939	)		(21,892	)		(68,822	)		(65,923	)
	Undistributed earnings		$	41,946		$	31,868		$	98,734		$	63,329
	Basic shares outstanding:
	Common stock			211,604			210,899			211,552			211,493
	Restricted shares of common stock			3,598			4,169			3,648			4,222
				215,202			215,068			215,200			215,715
	Diluted shares outstanding:
	Common stock			211,604			210,899			211,552			211,493
	Dilutive effect of stock based awards			1,132			1,074			1,116			1,147
				212,736			211,973			212,668			212,640
	Restricted shares of common stock			3,598			4,169			3,648			4,222
				216,334			216,142			216,316			216,862
	Reported basic EPS of the restricted shares of common stock under the two-class method generated the following reductions - $0.02 for the three months ended September 30, 2014 and $0.01 for the three months ended September 30, 2013; $0.06 for the nine months ended September 30, 2014 and $0.04 for the nine months ended September 30, 2013.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2014
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	5	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, 2014, all of these shares were available for grant.
	Stock-based employee compensation expense was as follows for the periods indicated:
			Three months ended					Nine months ended
			30-Sep					30-Sep
	(in thousands)		2014			2013		2014		2013
	Pre-tax expense		$	2,398		$	2,146	$	7,115	$	6,397
	After tax expense		$	1,523		$	1,363	$	4,518	$	4,062
	Restricted Stock
	The following is a summary of the changes in non-vested restricted shares for the nine months ended September 30, 2014:
			Shares			Weighted Average
						Grant-Date Fair
						Value
	Non-vested shares at December 31, 2013			4,114,800		$	9.67
	Granted			657,375			18.84
	Vested			(1,106,250	)		7.19
	Forfeited			(78,325	)		10.28
	Non-vested shares at September 30, 2014			3,587,600		$	12.04
	The total fair value of shares vested during the nine months ended September 30, 2014 was $20,634,000 and during the nine months ended September 30, 2013 was $15,471,000. Tax benefits for compensation tax deductions in excess of compensation expense for restricted shares totaled $4,378,000 for the nine months ended September 30, 2014 and $3,157,000 for the nine months ended September 30, 2013. These tax benefits were credited to capital in excess of par value and classified as financing cash flows.
	As of September 30, 2014, total unrecognized compensation cost related to non-vested restricted shares was $39,884,000 which is expected to be recognized over a weighted-average period of 3.3 years.

BUSINESS_SEGMENT_INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2014
BUSINESS SEGMENT INFORMATION	'
BUSINESS SEGMENT INFORMATION	'
	6	BUSINESS SEGMENT INFORMATION
	RPC’s service lines have been aggregated into two reportable oil and gas services segments, Technical Services and Support Services, because of the similarities between the financial performance and approach to managing the service lines within each of the segments, as well as the economic and business conditions impacting their business activity levels. Corporate includes selected administrative costs incurred by the Company that are not allocated to business units. Gains or losses on disposition of assets are reviewed by the Company’s chief decision maker on a consolidated basis, and accordingly the Company does not report these gains or losses at the segment level.
	Technical Services include RPC’s oil and gas service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer’s well. These services include pressure pumping services, snubbing, coiled tubing, nitrogen pumping, well control consulting and firefighting, downhole tools, wireline, and fluid pumping services. These Technical Services are primarily used in the completion, production and maintenance of oil and gas wells. The principal markets for this segment include the United States, including the Gulf of Mexico, the mid-continent, southwest, Rocky Mountain and Appalachian regions, and international locations including primarily Africa, Australia, Canada, China and Mexico. Customers include major multi-national and independent oil and gas producers, and selected nationally-owned oil companies.
	Support Services include RPC’s oil and gas service lines that primarily provide equipment for customer use or services to assist customer operations. The equipment and services include drill pipe and related tools, pipe handling, inspection and storage services and oilfield training services. The demand for these services tends to be influenced primarily by customer drilling-related activity levels. The principal markets for this segment include the United States, including the Gulf of Mexico and the mid-continent regions, and selected international locations. Customers include domestic operations of major multi-national and independent oil and gas producers, and selected nationally-owned oil companies.
	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.
	Certain information with respect to RPC’s business segments is set forth in the following tables:
			Three months ended								Nine months ended
			30-Sep								30-Sep
	(in thousands)		2014				2013				2014				2013
	Revenues:
	Technical Services		$	576,908			$	458,168			$	1,588,270			$	1,276,209
	Support Services			43,776				32,953				116,937				98,299
	Total revenues		$	620,684			$	491,121			$	1,705,207			$	1,374,508
	Operating profit:
	Technical Services		$	102,849			$	86,183			$	267,462			$	210,807
	Support Services			14,735				6,022				31,190				19,361
	Corporate			(3,239	)			(5,098	)			(12,407	)			(13,592	)
	Loss on disposition of assets, net			(7,684	)			(1,268	)			(11,321	)			(5,665	)
	Total operating profit		$	106,661			$	85,839			$	274,924			$	210,911
	Interest expense			(456	)			(283	)			(842	)			(1,565	)
	Interest income			4				8				14				73
	Other (expense) income, net			(454	)			1,279				457				1,643
	Income before income taxes		$	105,755			$	86,843			$	274,553			$	211,062
	Nine months ended September 30, 2014	Technical				Support				Corporate				Total
		Services				Services
	(in thousands)
	Depreciation and amortization		$	145,054			$	23,727			$	460			$	169,241
	Capital expenditures			213,244				23,360				869				237,473
	Identifiable assets at September 30, 2014		$	1,384,353			$	168,123			$	63,557			$	1,616,033
	Nine months ended September 30, 2013	Technical				Support				Corporate				Total
		Services				Services
	(in thousands)
	Depreciation and amortization		$	134,599			$	23,687			$	513			$	158,799
	Capital expenditures			129,599				29,104				1,151				159,854
	Identifiable assets at September 30, 2013		$	1,080,177			$	193,069			$	79,083			$	1,352,329

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2014
INVENTORIES	'
INVENTORIES	'
	7	INVENTORIES
		Inventories of $153,948,000 at September 30, 2014 and $126,604,000 at December 31, 2013 consist of raw materials, parts and supplies.

EMPLOYEE_BENEFIT_PLAN

EMPLOYEE BENEFIT PLAN	9 Months Ended
	Sep. 30, 2014
EMPLOYEE BENEFIT PLAN	'
EMPLOYEE BENEFIT PLAN	'
	8	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						Nine months ended
			30-Sep						30-Sep
	(in thousands)		2014			2013			2014			2013
	Service cost		$	-		$	-		$	-		$	-
	Interest cost			487			436			1,460			1,306
	Expected return on plan assets			(560	)		(511	)		(1,680	)		(1,533	)
	Amortization of net losses			133			197			399			588
	Net periodic benefit cost		$	60		$	122		$	179		$	361
		The Company contributions to this plan were $765,000 during the nine months ended September 30, 2014 and $800,000 during the nine months ended September 30, 2013.
	The Company permits selected highly compensated employees to defer a portion of their compensation into the non-qualified Supplemental Retirement Plan (“SERP”). The SERP assets are marked to market and totaled $15,915,000 as of September 30, 2014 and $13,963,000 as of December 31, 2013. The SERP assets are reported in non-current other assets on the consolidated balance sheet and changes in the fair value of these assets are reported in the consolidated statement of operations as part of other (expense) income, net. Trading gains (losses) related to the SERP assets were approximately as follows:
			Three months ended						Nine months ended
			30-Sep						30-Sep
	(in thousands)		2014			2013			2014			2013
	Gains (losses), net		$	(253	)	$	806		$	384		$	1,374
	The SERP deferrals and the distributions are recorded in pension liabilities with any changes in the fair value recorded as compensation cost.

NOTES_PAYABLE_TO_BANKS

NOTES PAYABLE TO BANKS	9 Months Ended
	Sep. 30, 2014
NOTES PAYABLE TO BANKS	'
NOTES PAYABLE TO BANKS	'
	9	NOTES PAYABLE TO BANKS
	The Company has a $350 million revolving credit facility with Banc of America Securities, LLC, SunTrust Robinson Humphrey, Inc, and Regions Capital Markets as Joint Lead Arrangers and Joint Book Managers, and a syndicate of other lenders. The facility includes a full and unconditional guarantee by the Company’s 100% owned domestic subsidiaries whose assets equal substantially all of the consolidated assets of RPC and its subsidiaries. The subsidiaries of the Company that are not guarantors are considered minor.
	The facility has a general term of five years and provides for an unsecured line of credit of up to $350 million, which includes a $50 million letter of credit subfacility, and a $25 million swingline subfacility. On January 17, 2014, the Company amended the revolving credit facility which extended the maturity date of all the revolving loans from August 31, 2015 to January 17, 2019. RPC incurred commitment fees and other debt related costs associated with the amendment of approximately $0.7 million. Interest rates on the amended loans were reduced by 0.125% at all pricing levels under the amended revolving credit facility. The amount of the swing line sub-facility as a result of the amendment was increased from $25 million to $35 million.
	The Company incurred loan origination fees and other debt related costs associated with the facility in the aggregate of approximately $3.0 million. These costs are being amortized to interest expense over the remaining term of the five year loan, and the net amount of $1.2 million at September 30, 2014 is classified as non-current other assets.
	Revolving loans under the Revolving Credit Agreement bear interest at one of the following two rates, at the Company’s election:
		●	the Base Rate, which is the highest of Bank of America’s “prime rate” for the day of the borrowing, a fluctuating rate per annum equal to the Federal Funds Rate plus 0.50%, and a rate per annum equal to the one (1) month LIBOR rate plus 1.00%; in each case plus a margin that ranges from 0.125% to 1.125% based on a quarterly debt covenant calculation; or
		●	with respect to any Eurodollar borrowings, Adjusted LIBOR (which equals LIBOR as increased to account for the maximum reserve percentages established by the U.S. Federal Reserve) plus a margin ranging from 1.125% to 2.125%, based upon a quarterly debt covenant calculation.
	In addition, the Company pays an annual fee ranging from 0.225% to 0.325%, based on a quarterly debt covenant calculation, of the unused portion of the credit facility.
	The facility contains customary terms and conditions, including certain financial covenants and restrictions on indebtedness, dividend payments, business combinations and other related items. Further, the facility contains financial covenants limiting the ratio of the Company’s consolidated debt-to-EBITDA to no more than 2.5 to 1, and limiting the ratio of the Company’s consolidated EBITDA to interest expense to no less than 2 to 1. The Company was in compliance with these covenants for the nine months ended September 30, 2014.
	At September 30, 2014, the Company had outstanding borrowings of $152.0 million under the facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaling $24.1 million; therefore, a total of $173.9 million of the facility was available.
	Interest incurred on the credit facility, interest capitalized related to facilities and equipment under construction, and the related weighted average interest rates were as follows for the periods indicated:
			Three months ended						Nine months ended
			30-Sep						30-Sep
			2014			2013			2014			2013
	(in thousands except interest rate data)
	Interest incurred		$	655		$	474		$	1,541		$	1,640
	Capitalized interest		$	180		$	246		$	392		$	735
	Weighted average interest rate			2.1	%		4.6	%		2.5	%		3.4	%

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	10	INCOME TAXES
	The Company determines its periodic income tax benefit or expense based upon the current period income and the annual estimated tax rate for the Company adjusted for any change to prior period estimates. 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, 2014, the income tax provision reflects an effective tax rate of 38.6 percent, compared to an effective tax rate of 38.1 percent for the comparable period in the prior year. For the nine months ended September 30, 2014, the income tax provision reflects an effective tax rate of 39.0 percent, compared to an effective tax rate of 38.8 percent for the comparable period in the prior year.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2014
FAIR VALUE DISCLOSURES	'
FAIR VALUE DISCLOSURES	'
	11	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 three broad levels as follows:
		1.	Level 1 – Quoted market prices in active markets for identical assets or liabilities.
		2.	Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		3.	Level 3 – Unobservable inputs developed using the Company’s estimates and assumptions, which reflect those that market participants would use.
	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, 2014 and December 31, 2013:
			Fair value measurements at September 30, 2014 with:
	(in thousands)		Quoted prices in		Significant other		Significant
			active markets		observable inputs		unobservable inputs
			for identical
			assets
			(Level 1)		(Level 2)		(Level 3)
	Assets:
	Trading securities		$	-	$	15,915	$	-
	Available for sale securities			388		-		-
			Fair value measurements at December 31, 2013 with:
	(in thousands)		Quoted prices in		Significant other		Significant
			active markets		observable inputs		unobservable inputs
			for identical
			assets
			(Level 1)		(Level 2)		(Level 3)
	Assets:
	Trading securities		$	-	$	13,963	$	-
	Available for sale securities			445		-		-
	The Company determines the fair value of the marketable securities that are available-for-sale 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. Significant observable inputs in addition to quoted market prices were used to value trading securities. As a result, the Company classified these investments as using level 2 inputs.
	The outstanding balance on the Revolving Credit Agreement was $152.0 million at September 30, 2014 and $53.3 million at December 31, 2013 which approximates fair value. The fair value of these borrowings was based on quotes from the lender (level 2 inputs). The borrowings under the Company’s revolving credit agreement bear interest at the variable rate described in Note 9. 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-term nature of these instruments.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
	Sep. 30, 2014
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	'
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	'
	12	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
	Accumulated other comprehensive (loss) income consists of the following (in thousands):
			Pension			Unrealized			Foreign			Total
			Adjustment			Gain (Loss) On			Currency
						Securities			Translation
	Balance at December 31, 2013		$	(9,760	)	$	10		$	(365	)	$	(10,115	)
	Change during the period:
	Before-tax amount			-			(57	)		(653	)		(710	)
	Tax benefit			-			21			-			21
	Reclassification adjustment, net of taxes:
	Amortization of net loss (1)			253			-			-			253
	Total activity for the period			253			(36	)		(653	)		(436	)
	Balance at September 30, 2014		$	(9,507	)	$	(26	)	$	(1,018	)	$	(10,551	)
	-1	Reported as part of selling, general and administrative expenses.
			Pension			Unrealized			Foreign Currency Translation			Total
			Adjustment			Gain (Loss) On
						Securities
	Balance at December 31, 2012		$	(14,688	)	$	29		$	413		$	(14,246	)
	Change during the quarter:
	Before-tax amount			-			(3	)		(413	)		(416	)
	Tax benefit			-			1			-			1
	Reclassification adjustment, net of taxes:
	Amortization of net loss (1)			372			-			-			372
	Total activity for the quarter			372			(2	)		(413	)		(43	)
	Balance at September 30, 2013		$	(14,316	)	$	27		$	-		$	(14,289	)
	-1	Reported as part of selling, general and administrative expenses.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2014
SUBSEQUENT EVENT	'
SUBSEQUENT EVENT	'
	13	SUBSEQUENT EVENT
	On October 28, 2014, the Board of Directors approved a $0.105 per share cash dividend payable December 10, 2014 to stockholders of record at the close of business November 10, 2014.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2014
EARNINGS PER SHARE	'
Schedule of reconciliation of weighted average shares outstanding	'
		Three months ended						Nine months ended
		30-Sep						30-Sep
	(In thousands except per share data)	2014			2013			2014			2013
	Net income available for stockholders:	$	64,885		$	53,760		$	167,556		$	129,252
	Less: Dividends paid		(22,939	)		(21,892	)		(68,822	)		(65,923	)
	Undistributed earnings	$	41,946		$	31,868		$	98,734		$	63,329
	Basic shares outstanding:
	Common stock		211,604			210,899			211,552			211,493
	Restricted shares of common stock		3,598			4,169			3,648			4,222
			215,202			215,068			215,200			215,715
	Diluted shares outstanding:
	Common stock		211,604			210,899			211,552			211,493
	Dilutive effect of stock based awards		1,132			1,074			1,116			1,147
			212,736			211,973			212,668			212,640
	Restricted shares of common stock		3,598			4,169			3,648			4,222
			216,334			216,142			216,316			216,862

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2014
STOCK-BASED COMPENSATION	'
Schedule of stock-based employee compensation expense	'
		Three months ended					Nine months ended
		30-Sep					30-Sep
	(in thousands)	2014			2013		2014		2013
	Pre-tax expense	$	2,398		$	2,146	$	7,115	$	6,397
	After tax expense	$	1,523		$	1,363	$	4,518	$	4,062
Schedule of summary of changes in non-vested restricted shares	'
		Shares			Weighted Average
					Grant-Date Fair
					Value
	Non-vested shares at December 31, 2013		4,114,800		$	9.67
	Granted		657,375			18.84
	Vested		(1,106,250	)		7.19
	Forfeited		(78,325	)		10.28
	Non-vested shares at September 30, 2014		3,587,600		$	12.04

BUSINESS_SEGMENT_INFORMATION_T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2014
BUSINESS SEGMENT INFORMATION	'
Schedule of segment reporting information by segment	'
			Three months ended								Nine months ended
			30-Sep								30-Sep
	(in thousands)		2014				2013				2014				2013
	Revenues:
	Technical Services		$	576,908			$	458,168			$	1,588,270			$	1,276,209
	Support Services			43,776				32,953				116,937				98,299
	Total revenues		$	620,684			$	491,121			$	1,705,207			$	1,374,508
	Operating profit:
	Technical Services		$	102,849			$	86,183			$	267,462			$	210,807
	Support Services			14,735				6,022				31,190				19,361
	Corporate			(3,239	)			(5,098	)			(12,407	)			(13,592	)
	Loss on disposition of assets, net			(7,684	)			(1,268	)			(11,321	)			(5,665	)
	Total operating profit		$	106,661			$	85,839			$	274,924			$	210,911
	Interest expense			(456	)			(283	)			(842	)			(1,565	)
	Interest income			4				8				14				73
	Other (expense) income, net			(454	)			1,279				457				1,643
	Income before income taxes		$	105,755			$	86,843			$	274,553			$	211,062
	Nine months ended September 30, 2014	Technical				Support				Corporate				Total
		Services				Services
	(in thousands)
	Depreciation and amortization		$	145,054			$	23,727			$	460			$	169,241
	Capital expenditures			213,244				23,360				869				237,473
	Identifiable assets at September 30, 2014		$	1,384,353			$	168,123			$	63,557			$	1,616,033
	Nine months ended September 30, 2013	Technical				Support				Corporate				Total
		Services				Services
	(in thousands)
	Depreciation and amortization		$	134,599			$	23,687			$	513			$	158,799
	Capital expenditures			129,599				29,104				1,151				159,854
	Identifiable assets at September 30, 2013		$	1,080,177			$	193,069			$	79,083			$	1,352,329

EMPLOYEE_BENEFIT_PLAN_Tables

EMPLOYEE BENEFIT PLAN (Tables)	9 Months Ended
	Sep. 30, 2014
EMPLOYEE BENEFIT PLAN	'
Schedule of net periodic benefit cost and related components	'
		Three months ended						Nine months ended
		30-Sep						30-Sep
	(in thousands)	2014			2013			2014			2013
	Service cost	$	-		$	-		$	-		$	-
	Interest cost		487			436			1,460			1,306
	Expected return on plan assets		(560	)		(511	)		(1,680	)		(1,533	)
	Amortization of net losses		133			197			399			588
	Net periodic benefit cost	$	60		$	122		$	179		$	361
Schedule of trading gains (losses) related to SERP assets	'
		Three months ended						Nine months ended
		30-Sep						30-Sep
	(in thousands)	2014			2013			2014			2013
	Gains (losses), net	$	(253	)	$	806		$	384		$	1,374

NOTES_PAYABLE_TO_BANKS_Tables

NOTES PAYABLE TO BANKS (Tables)	9 Months Ended
	Sep. 30, 2014
NOTES PAYABLE TO BANKS	'
Schedule of interest incurred on the credit facility, interest capitalized related to facilities and equipment under construction and the related weighted average interest rates	'
		Three months ended						Nine months ended
		30-Sep						30-Sep
		2014			2013			2014			2013
	(in thousands except interest rate data)
	Interest incurred	$	655		$	474		$	1,541		$	1,640
	Capitalized interest	$	180		$	246		$	392		$	735
	Weighted average interest rate		2.1	%		4.6	%		2.5	%		3.4	%

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2014
FAIR VALUE DISCLOSURES	'
Schedule of valuation of financial instruments measured at fair value on a recurring basis	'
		Fair value measurements at September 30, 2014 with:
	(in thousands)	Quoted prices in		Significant other		Significant
		active markets		observable inputs		unobservable inputs
		for identical
		assets
		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Trading securities	$	-	$	15,915	$	-
	Available for sale securities		388		-		-
		Fair value measurements at December 31, 2013 with:
	(in thousands)	Quoted prices in		Significant other		Significant
		active markets		observable inputs		unobservable inputs
		for identical
		assets
		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Trading securities	$	-	$	13,963	$	-
	Available for sale securities		445		-		-

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
	Sep. 30, 2014
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	'
Schedule of accumulated other comprehensive (loss) income	'
			Pension			Unrealized			Foreign			Total
			Adjustment			Gain (Loss) On			Currency
						Securities			Translation
	Balance at December 31, 2013		$	(9,760	)	$	10		$	(365	)	$	(10,115	)
	Change during the period:
	Before-tax amount			-			(57	)		(653	)		(710	)
	Tax benefit			-			21			-			21
	Reclassification adjustment, net of taxes:
	Amortization of net loss (1)			253			-			-			253
	Total activity for the period			253			(36	)		(653	)		(436	)
	Balance at September 30, 2014		$	(9,507	)	$	(26	)	$	(1,018	)	$	(10,551	)
	-1	Reported as part of selling, general and administrative expenses.
			Pension			Unrealized			Foreign Currency Translation			Total
			Adjustment			Gain (Loss) On
						Securities
	Balance at December 31, 2012		$	(14,688	)	$	29		$	413		$	(14,246	)
	Change during the quarter:
	Before-tax amount			-			(3	)		(413	)		(416	)
	Tax benefit			-			1			-			1
	Reclassification adjustment, net of taxes:
	Amortization of net loss (1)			372			-			-			372
	Total activity for the quarter			372			(2	)		(413	)		(43	)
	Balance at September 30, 2013		$	(14,316	)	$	27		$	-		$	(14,289	)
	-1	Reported as part of selling, general and administrative expenses.

EARNINGS_PER_SHARE_Reconciliat

EARNINGS PER SHARE - Reconciliation of weighted average shares outstanding (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
EARNINGS PER SHARE	'	'	'	'
Net income available for stockholders:	$64,885	$53,760	$167,556	$129,252
Less: Dividends paid	-22,939	-21,892	-68,822	-65,923
Undistributed earnings	$41,946	$31,868	$98,734	$63,329
Basic shares outstanding:	'	'	'	'
Common stock	211,604	210,899	211,552	211,493
Restricted shares of common stock	3,598	4,169	3,648	4,222
Basic shares outstanding, total	215,202	215,068	215,200	215,715
Diluted shares outstanding:	'	'	'	'
Common stock	211,604	210,899	211,552	211,493
Dilutive effect of stock based awards	1,132	1,074	1,116	1,147
Diluted shares outstanding excluding restricted shares of common stock, total	212,736	211,973	212,668	212,640
Restricted shares of common stock	3,598	4,169	3,648	4,222
Diluted shares outstanding, total	216,334	216,142	216,316	216,862

EARNINGS_PER_SHARE_Detail_Text

EARNINGS PER SHARE (Detail Textuals) (Restricted Shares, USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Restricted Shares	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Reduction in reported basic earnings per share under the two class method	$0.02	$0.01	$0.06	$0.04

STOCKBASED_COMPENSATION_Stockb

STOCK-BASED COMPENSATION - Stock-based employee compensation expense (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
STOCK-BASED COMPENSATION	'	'	'	'
Pre-tax expense	$2,398	$2,146	$7,115	$6,397
After tax expense	$1,523	$1,363	$4,518	$4,062

STOCKBASED_COMPENSATION_Nonves

STOCK-BASED COMPENSATION - Non-vested restricted shares activity (Details 1) (Restricted Stock, USD $)	9 Months Ended
	Sep. 30, 2014
Restricted Stock	'
Shares	'
Non-vested shares at December 31, 2013	4,114,800
Granted	657,375
Vested	-1,106,250
Forfeited	-78,325
Non-vested shares at September 30, 2014	3,587,600
Weighted Average Grant-Date Fair Value	'
Non-vested shares at December 31, 2013	$9.67
Granted	$18.84
Vested	$7.19
Forfeited	$10.28
Non-vested shares at September 30, 2014	$12.04

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Detail Textuals) (2014 Stock Incentive Plan)	1 Months Ended
	Apr. 22, 2014
2014 Stock Incentive Plan	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Reserved shares of common stock	8,000,000
Term of reserved shares	'10 years

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Detail Textuals 1) (Restricted Stock, USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Restricted Stock	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Total fair value of shares vested	$20,634,000	$15,471,000
Tax benefits for compensation expense for restricted stock	4,378,000	3,157,000
Unrecognized compensation cost related to non-vested restricted shares	$39,884,000	'
Unrecognized compensation cost related to non-vested restricted shares recognized period	'3.3 years	'

BUSINESS_SEGMENT_INFORMATION_S

BUSINESS SEGMENT INFORMATION - Summary of information with respect to RPC's business segments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Revenues	$620,684	$491,121	$1,705,207	$1,374,508
Operating profit:	'	'	'	'
Total operating profit	106,661	85,839	274,924	210,911
Interest expense	-456	-283	-842	-1,565
Interest income	4	8	14	73
Other (expense) income, net	-454	1,279	457	1,643
Income before income taxes	105,755	86,843	274,553	211,062
Depreciation and amortization	57,219	53,211	169,241	158,799
Capital expenditures	'	'	237,473	159,854
Operating Segments	'	'	'	'
Revenues:	'	'	'	'
Revenues	620,684	491,121	1,705,207	1,374,508
Operating profit:	'	'	'	'
Total operating profit	106,661	85,839	274,924	210,911
Interest expense	-456	-283	-842	-1,565
Interest income	4	8	14	73
Other (expense) income, net	-454	1,279	457	1,643
Income before income taxes	105,755	86,843	274,553	211,062
Depreciation and amortization	'	'	169,241	158,799
Capital expenditures	'	'	237,473	159,854
Identifiable assets	1,616,033	1,352,329	1,616,033	1,352,329
Operating Segments | Technical Services	'	'	'	'
Revenues:	'	'	'	'
Revenues	576,908	458,168	1,588,270	1,276,209
Operating profit:	'	'	'	'
Total operating profit	102,849	86,183	267,462	210,807
Depreciation and amortization	'	'	145,054	134,599
Capital expenditures	'	'	213,244	129,599
Identifiable assets	1,384,353	1,080,177	1,384,353	1,080,177
Operating Segments | Support Services	'	'	'	'
Revenues:	'	'	'	'
Revenues	43,776	32,953	116,937	98,299
Operating profit:	'	'	'	'
Total operating profit	14,735	6,022	31,190	19,361
Depreciation and amortization	'	'	23,727	23,687
Capital expenditures	'	'	23,360	29,104
Identifiable assets	168,123	193,069	168,123	193,069
Corporate	'	'	'	'
Operating profit:	'	'	'	'
Total operating profit	-3,239	-5,098	-12,407	-13,592
Depreciation and amortization	'	'	460	513
Capital expenditures	'	'	869	1,151
Identifiable assets	63,557	79,083	63,557	79,083
Loss on disposition of assets, net	'	'	'	'
Operating profit:	'	'	'	'
Total operating profit	($7,684)	($1,268)	($11,321)	($5,665)

BUSINESS_SEGMENT_INFORMATION_D

BUSINESS SEGMENT INFORMATION (Detail Textuals)	9 Months Ended
	Sep. 30, 2014
	Reportable_Segment
BUSINESS SEGMENT INFORMATION	'
Number of reportable segments	2

INVENTORIES_Detail_Textuals

INVENTORIES (Detail Textuals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
INVENTORIES	'	'
Raw materials, parts and supplies of inventories	$153,948	$126,604

EMPLOYEE_BENEFIT_PLAN_Net_peri

EMPLOYEE BENEFIT PLAN - Net periodic benefit cost and related components (Details) (Multiple Employers Retirement Income Plan, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Multiple Employers Retirement Income Plan	'	'	'	'
Multiemployer Plans [Line Item]	'	'	'	'
Service cost	'	'	'	'
Interest cost	487	436	1,460	1,306
Expected return on plan assets	-560	-511	-1,680	-1,533
Amortization of net losses	133	197	399	588
Net periodic benefit cost	$60	$122	$179	$361

EMPLOYEE_BENEFIT_PLAN_Trading_

EMPLOYEE BENEFIT PLAN - Trading results related to SERP (Details 1) (Non-qualified Supplemental Retirement Plan ("SERP"), USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Non-qualified Supplemental Retirement Plan ("SERP")	'	'	'	'
Multiemployer Plans [Line Item]	'	'	'	'
Gains (losses), net	($253)	$806	$384	$1,374

EMPLOYEE_BENEFIT_PLAN_Detail_T

EMPLOYEE BENEFIT PLAN (Detail Textuals) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013
	Multiple Employers Retirement Income Plan	Multiple Employers Retirement Income Plan	Non-qualified Supplemental Retirement Plan ("SERP")	Non-qualified Supplemental Retirement Plan ("SERP")
Multiemployer Plans [Line Item]	'	'	'	'
Contribution by employer for retirement income plan	$765,000	$800,000	'	'
SERP assets	'	'	$15,915,000	$13,963,000

NOTES_PAYABLE_TO_BANKS_Interes

NOTES PAYABLE TO BANKS - Interest incurred on credit facility, interest capitalized related to facilities and equipment under construction, and related weighted average interest rates (Details) (Revolving credit facility, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revolving credit facility	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Interest incurred	$655	$474	$1,541	$1,640
Capitalized interest	$180	$246	$392	$735
Weighted average interest rate	2.10%	4.60%	2.50%	3.40%

NOTES_PAYABLE_TO_BANKS_Detail_

NOTES PAYABLE TO BANKS (Detail Textuals) (USD $)	1 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Jan. 17, 2014	Sep. 30, 2014
Revolving credit facility	'	'
Line of Credit Facility [Line Items]	'	'
Amount of credit facility	'	$350
Percentage of ownership	'	100.00%
Term of line of credit facility	'	'5 years
Commitment fees and other debt related costs	0.7	'
Decrease in interest rates on the revolving loans under the Credit Agreement	0.13%	'
Loan origination fees and other debt related costs	'	3
Non-current other assets net	'	1.2
Description of variable rate basis of debt instrument	'	'
		Revolving loans under the Revolving Credit Agreement bear interest at one of the following two rates, at the Company’s election:
			●	the Base Rate, which is the highest of Bank of America’s “prime rate” for the day of the borrowing, a fluctuating rate per annum equal to the Federal Funds Rate plus 0.50%, and a rate per annum equal to the one (1) month LIBOR rate plus 1.00%; in each case plus a margin that ranges from 0.125% to 1.125% based on a quarterly debt covenant calculation; or
			●	with respect to any Eurodollar borrowings, Adjusted LIBOR (which equals LIBOR as increased to account for the maximum reserve percentages established by the U.S. Federal Reserve) plus a margin ranging from 1.125% to 2.125%, based upon a quarterly debt covenant calculation.
Revolving credit facility | Minimum	'	'
Line of Credit Facility [Line Items]	'	'
Fees on unused portion of facility	'	0.23%
Revolving credit facility | Maximum	'	'
Line of Credit Facility [Line Items]	'	'
Fees on unused portion of facility	'	0.33%
Revolving credit facility | Option 1 A	'	'
Line of Credit Facility [Line Items]	'	'
Basis spread on variable rate	'	0.50%
Description of reference rate basis	'	'Federal Funds Rate
Revolving credit facility | Option 1 A | Minimum	'	'
Line of Credit Facility [Line Items]	'	'
Range of margin based on quarterly debt covenant calculation	'	0.13%
Revolving credit facility | Option 1 A | Maximum	'	'
Line of Credit Facility [Line Items]	'	'
Range of margin based on quarterly debt covenant calculation	'	1.13%
Revolving credit facility | Option 1 B	'	'
Line of Credit Facility [Line Items]	'	'
Basis spread on variable rate	'	1.00%
Description of reference rate basis	'	'LIBOR rate
Revolving credit facility | Option 1 B | Minimum	'	'
Line of Credit Facility [Line Items]	'	'
Range of margin based on quarterly debt covenant calculation	'	0.13%
Revolving credit facility | Option 1 B | Maximum	'	'
Line of Credit Facility [Line Items]	'	'
Range of margin based on quarterly debt covenant calculation	'	1.13%
Letter of credit subfacility	'	'
Line of Credit Facility [Line Items]	'	'
Amount of credit facility	'	50
Swingline subfacility	'	'
Line of Credit Facility [Line Items]	'	'
Amount of credit facility	$35	$25

NOTES_PAYABLE_TO_BANKS_Detail_1

NOTES PAYABLE TO BANKS (Detail Textuals 1) (Revolving credit facility, Option 2, Eurodollar Borrowings)	9 Months Ended
	Sep. 30, 2014
Line of Credit Facility [Line Items]	'
Description of reference rate basis	'Adjusted LIBOR
Minimum	'
Line of Credit Facility [Line Items]	'
Range of margin based on quarterly debt covenant calculation	1.13%
Maximum	'
Line of Credit Facility [Line Items]	'
Range of margin based on quarterly debt covenant calculation	2.13%

NOTES_PAYABLE_TO_BANKS_Detail_2

NOTES PAYABLE TO BANKS (Detail Textuals 2) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014
		Revolving credit facility	Revolving credit facility	Letter of credit subfacility
Line of Credit Facility [Line Items]	'	'	'	'
Threshold limit of ratio of debt to earnings before interest taxes depreciation and amortization	'no more than 2.5 to 1	'	'	'
Debt-to-EBITDA ratio (in times)	2.5	'	'	'
Threshold limit of ratio of earnings before interest taxes depreciation and amortization to interest expenses	'no less than 2 to 1	'	'	'
EBITDA to interest expense ratio (in times)	2	'	'	'
Outstanding borrowings under the facility	'	$152	$53.30	$24.10
Remaining borrowing capacity	'	$173.90	'	'

INCOME_TAXES_Detail_Textuals

INCOME TAXES (Detail Textuals)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
INCOME TAXES	'	'	'	'
Effective tax rate	38.60%	38.10%	39.00%	38.80%

FAIR_VALUE_DISCLOSURES_Valuati

FAIR VALUE DISCLOSURES - Valuation of financial instruments measured at fair value on a recurring basis (Details) (Fair value on a recurring basis, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Quoted prices in active markets for identical assets (Level 1)	'	'
Assets:	'	'
Trading securities	'	'
Available for sale securities	388	445
Significant other observable inputs (Level 2)	'	'
Assets:	'	'
Trading securities	15,915	13,963
Available for sale securities	'	'
Significant unobservable inputs (Level 3)	'	'
Assets:	'	'
Trading securities	'	'
Available for sale securities	'	'

FAIR_VALUE_DISCLOSURES_Detail_

FAIR VALUE DISCLOSURES (Detail Textuals) (Revolving credit facility, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Revolving credit facility	'	'
Line of Credit Facility [Line Items]	'	'
Outstanding borrowings under the facility	$152	$53.30

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME - Summary of components of accumulated other comprehensive (loss) income (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'
Balance at December 31	($10,115)		($14,246)
Change during the period:	'		'
Before-tax amount	-710		-416
Tax benefit	21		1
Reclassification adjustment, net of taxes:	'		'
Amortization of net loss	253	[1]	372
Total activity for the period	-436		-43
Balance at September 30	-10,551		-14,289
Pension Adjustment	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'
Balance at December 31	-9,760		-14,688
Change during the period:	'		'
Before-tax amount	'		'
Tax benefit	'		'
Reclassification adjustment, net of taxes:	'		'
Amortization of net loss	253	[1]	372
Total activity for the period	253		372
Balance at September 30	-9,507		-14,316
Unrealized Gain (Loss) On Securities	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'
Balance at December 31	10		29
Change during the period:	'		'
Before-tax amount	-57		-3
Tax benefit	21		1
Reclassification adjustment, net of taxes:	'		'
Amortization of net loss	'	[1]	'
Total activity for the period	-36		-2
Balance at September 30	-26		27
Foreign Currency Translation	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'
Balance at December 31	-365		413
Change during the period:	'		'
Before-tax amount	-653		-413
Tax benefit	'		'
Reclassification adjustment, net of taxes:	'		'
Amortization of net loss	'	[1]	'
Total activity for the period	-653		-413
Balance at September 30	($1,018)		'
[1]	Reported as part of selling, general and administrative expenses.

SUBSEQUENT_EVENT_Detail_Textua

SUBSEQUENT EVENT (Detail Textuals) (Subsequent Event, Dividend declared, USD $)	1 Months Ended
	Oct. 28, 2014
Subsequent Event | Dividend declared	'
Subsequent Event [Line Items]	'
Cash dividend payable (in dollars per share)	$0.11
Dividends payable date	10-Dec-14
Dividends payable record date	10-Nov-14