Ion Geophysical (IOGPQ) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	1-12691
Entity Registrant Name	ION GEOPHYSICAL CORPORATION
Entity Incorporation, State	DE
Entity Tax Identification Number	22-2286646
Entity Address, Street	2105 CityWest Blvd
Entity Address, Suite	Suite 100
Entity Address, City	Houston
Entity Address, State	TX
Entity Address, Postal Zip Code	77042
City Area Code	281
Local Phone Number	933-3339
Title of each class	Common Stock, $0.01 par value
Trading symbol(s)	IO
Name of each exchange on which registered	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		15,006,160
Entity Central Index Key	0000866609
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 62,540		$ 33,065	$ 29,563
Accounts receivable, net	10,577		29,548
Unbilled receivables	12,937		11,815
Inventories, net	11,862		12,187
Prepaid expenses and other current assets	4,462		6,012
Total current assets	102,378		92,627
Deferred income tax asset, net	7,987		8,734
Property, plant and equipment, net	11,920		13,188
Multi-client data library, net	51,935		60,384
Goodwill	18,029		23,585			$ 22,915
Right-of-use assets	40,467		32,546
Other assets	3,513		2,130
Total assets	236,229		233,194
Current liabilities:
Current maturities of long-term debt	23,685		2,107
Accounts payable	37,254		49,316
Accrued expenses	25,606		30,328
Accrued multi-client data library royalties	21,316		18,831
Deferred revenue	4,058		4,551
Current maturities of operating lease liabilities	8,355		11,055
Total current liabilities	120,274		116,188
Long-term debt, net of current maturities	119,234		119,352
Operating lease liabilities, net of current maturities	40,409		30,833
Other long-term liabilities	422		1,453
Total liabilities	280,339		267,826
Deficit:
Common stock, $0.01 par value; authorized 26,666,667 shares; outstanding 14,245,829 and 14,224,787 shares at June 30, 2020 and December 31, 2019, respectively.	142		142
Additional paid-in capital	957,746		956,647
Accumulated deficit	(981,773)		(974,291)
Accumulated other comprehensive loss	(21,833)		(19,318)
Total stockholders’ deficit	(45,718)		(36,820)
Noncontrolling interest	1,608		2,188
Total deficit	(44,110)	$ (38,603)	(34,632)	$ (19,381)	$ (11,439)	$ 7,824
Total liabilities and deficit	$ 236,229		$ 233,194

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	26,666,667	26,666,667
Common stock, shares outstanding (in shares)	14,245,829	14,224,787

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net revenues	$ 22,731,000	$ 41,775,000	$ 79,145,000	$ 78,731,000
Cost of services and products	18,147,000	22,192,000	45,050,000	49,236,000
Impairment of multi-client data library	0	0	1,167,000	0
Gross profit (loss)	4,584,000	19,583,000	32,928,000	29,495,000
Operating expenses:
Research, development and engineering	3,036,000	5,186,000	7,044,000	10,543,000
Marketing and sales	1,219,000	6,060,000	6,077,000	11,853,000
General, administrative and other operating expenses	5,801,000	10,890,000	14,803,000	25,589,000
Impairment of goodwill	0	0	4,150,000	0
Total operating expenses	10,056,000	22,136,000	32,074,000	47,985,000
Income (loss) from operations	(5,472,000)	(2,553,000)	854,000	(18,490,000)
Interest expense, net	(3,414,000)	(3,111,000)	(6,635,000)	(6,223,000)
Other income (expense), net	6,771,000	96,000	7,200,000	(696,000)
Net income (loss) before income taxes	(2,115,000)	(5,568,000)	1,419,000	(25,409,000)
Income tax expense	3,052,000	2,719,000	8,926,000	4,126,000
Net income (loss)	(5,167,000)	(8,287,000)	(7,507,000)	(29,535,000)
Net income attributable to noncontrolling interest	(52,000)	(335,000)	25,000	(447,000)
Net income (loss) attributable to ION	$ (5,219,000)	$ (8,622,000)	$ (7,482,000)	$ (29,982,000)
Net loss per share:
Basic (usd per share)	$ (0.37)	$ (0.61)	$ (0.53)	$ (2.13)
Diluted (usd per share)	$ (0.37)	$ (0.61)	$ (0.53)	$ (2.13)
Weighted average number of common shares outstanding:
Basic (in shares)	14,241	14,098	14,236	14,065
Diluted (in shares)	14,241	14,098	14,236	14,065
Service
Net revenues	$ 15,547,000	$ 30,407,000	$ 63,032,000	$ 58,535,000
Cost of services and products	13,267,000	16,795,000	35,542,000	39,241,000
Product
Net revenues	7,184,000	11,368,000	16,113,000	20,196,000
Cost of services and products	$ 4,880,000	$ 5,397,000	$ 9,508,000	$ 9,995,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,167)	$ (8,287)	$ (7,507)	$ (29,535)
Other comprehensive loss, net of taxes, as appropriate:
Foreign currency translation adjustments	(734)	(940)	(2,515)	30
Comprehensive net income (loss)	(5,901)	(9,227)	(10,022)	(29,505)
Comprehensive income attributable to noncontrolling interest	(52)	(335)	25	(447)
Comprehensive net income (loss) attributable to ION	$ (5,953)	$ (9,562)	$ (9,997)	$ (29,952)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (7,507,000)	$ (29,535,000)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization (other than multi-client data library)	1,848,000	2,098,000
Amortization of multi-client data library	12,701,000	19,396,000
Stock-based compensation expense	1,094,000	2,831,000
Impairment of multi-client data library	1,167,000	0
Impairment of goodwill	4,150,000	0
Amortization of government relief funding expected to be forgiven	6,923,000	0
Deferred income taxes	338,000	(467,000)
Changes in operating assets and liabilities:
Accounts receivable	18,678,000	8,734,000
Unbilled receivables	(2,080,000)	21,575,000
Inventories	179,000	735,000
Accounts payable, accrued expenses and accrued royalties	(6,930,000)	(6,054,000)
Deferred revenue	(466,000)	(3,337,000)
Other assets and liabilities	102,000	(1,711,000)
Net cash provided by operating activities	16,351,000	14,265,000
Cash flows from investing activities:
Cash invested in multi-client data library	(14,596,000)	(14,782,000)
Purchase of property, plant and equipment	(697,000)	(1,412,000)
Net cash used in investing activities	(15,293,000)	(16,194,000)
Cash flows from financing activities:
Borrowings under revolving line of credit	27,000,000	0
Payments under revolving line of credit	(4,500,000)	0
Proceeds from government relief funding	6,923,000	0
Payments on notes payable and long-term debt	(1,527,000)	(1,406,000)
Other financing activities	5,000	(551,000)
Net cash provided by (used in) financing activities	27,901,000	(1,957,000)
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash	538,000	(102,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	29,497,000	(3,988,000)
Cash, cash equivalents and restricted cash at beginning of period	33,118,000	33,854,000
Cash, cash equivalents and restricted cash at end of period	$ 62,615,000	$ 29,866,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance at Dec. 31, 2018	$ 7,824	$ 140	$ 952,626	$ (926,092)	$ (20,442)	$ 1,592
Beginning balance (in shares) at Dec. 31, 2018		14,015,615
Comprehensive income (loss):
Net (loss) income	(29,535)			(29,982)		447
Translation adjustments	50				30	20
Stock-based compensation expense	2,831		2,831
Exercise of stock options	77	$ 1	76
Exercise of stock options (in shares)		24,500
Vesting of restricted stock units/awards		$ 2	(2)
Vesting of restricted stock units/awards (in shares)		201,631
Vested restricted stock cancelled for employee minimum income taxes	(628)	$ (1)	(627)
Vested restricted stock cancelled for employee minimum income taxes (in shares)		(70,185)
Ending balance at Jun. 30, 2019	(19,381)	$ 142	954,904	(956,074)	(20,412)	2,059
Ending balance (in shares) at Jun. 30, 2019		14,171,561
Beginning balance at Mar. 31, 2019	(11,439)	$ 141	953,679	(947,452)	(19,472)	1,665
Beginning balance (in shares) at Mar. 31, 2019		14,069,520
Comprehensive income (loss):
Net (loss) income	(8,287)			(8,622)		335
Translation adjustments	(881)				(940)	59
Stock-based compensation expense	1,538		1,538
Exercise of stock options	59	$ 1	58
Exercise of stock options (in shares)		18,750
Vesting of restricted stock units/awards		$ 1	(1)
Vesting of restricted stock units/awards (in shares)		133,432
Vested restricted stock cancelled for employee minimum income taxes	(371)	$ (1)	(370)
Vested restricted stock cancelled for employee minimum income taxes (in shares)		(50,141)
Ending balance at Jun. 30, 2019	(19,381)	$ 142	954,904	(956,074)	(20,412)	2,059
Ending balance (in shares) at Jun. 30, 2019		14,171,561
Beginning balance at Dec. 31, 2019	(34,632)	$ 142	956,647	(974,291)	(19,318)	2,188
Beginning balance (in shares) at Dec. 31, 2019		14,224,787
Comprehensive income (loss):
Net (loss) income	(7,507)			(7,482)		(25)
Translation adjustments	(3,070)				(2,515)	(555)
Stock-based compensation expense	1,094		1,094
Exercise of stock options	15		15
Exercise of stock options (in shares)		5,000
Vesting of restricted stock units/awards (in shares)		17,089
Vested restricted stock cancelled for employee minimum income taxes	(10)		(10)
Vested restricted stock cancelled for employee minimum income taxes (in shares)		(1,047)
Ending balance at Jun. 30, 2020	(44,110)	$ 142	957,746	(981,773)	(21,833)	1,608
Ending balance (in shares) at Jun. 30, 2020		14,245,829
Beginning balance at Mar. 31, 2020	(38,603)	$ 142	957,254	(976,554)	(21,099)	1,654
Beginning balance (in shares) at Mar. 31, 2020		14,240,126
Comprehensive income (loss):
Net (loss) income	(5,167)			(5,219)		52
Translation adjustments	(832)				(734)	(98)
Stock-based compensation expense	477		477
Exercise of stock options	15		15
Exercise of stock options (in shares)		5,000
Vesting of restricted stock units/awards (in shares)		1,000
Vested restricted stock cancelled for employee minimum income taxes (in shares)		(297)
Ending balance at Jun. 30, 2020	$ (44,110)	$ 142	$ 957,746	$ (981,773)	$ (21,833)	$ 1,608
Ending balance (in shares) at Jun. 30, 2020		14,245,829

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated balance sheet of ION Geophysical Corporation and its subsidiaries (collectively referred to as the “Company” or “ION,” unless the context otherwise requires) at December 31, 2019, has been derived from the Company’s audited consolidated financial statements at that date. The condensed consolidated balance sheet at June 30, 2020, and the condensed consolidated statements of operations, condensed consolidated statements of comprehensive loss, condensed consolidated statements of stockholders' deficit for the three and six months ended June 30, 2020 and 2019 and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019, are unaudited. In the opinion of management, all adjustments of a normal recurring nature that are necessary for a fair presentation of the results of the interim period have been included. Interim results are not necessarily indicative of the operating results for a full year or of future operations. Intercompany transactions and balances have been eliminated. The Company’s condensed consolidated financial statements reflect a non-redeemable noncontrolling interest in a majority-owned affiliate which is reported as a separate component of equity in “Noncontrolling interest” in the condensed consolidated balance sheets. Net (income) loss attributable to noncontrolling interest is stated separately in the condensed consolidated statements of operations. The activity for this noncontrolling interest relates to proprietary processing projects in Brazil. These condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and applicable rules of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements presented in accordance with GAAP have been omitted. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Overview The COVID-19 pandemic caused the global economy to enter a recessionary period, which may be prolonged and severe, and significantly reduce the availability of capital and liquidity from banks and other providers of credit. The E&P industry is facing the double impact of demand destruction from COVID-19 and market oversupply from increased production, which caused oil and natural gas prices to decline significantly since the start of the year. Brent crude oil prices, which are most relevant to ION’s internationally focused business, dropped 66% during the first quarter from $66 on January 1, 2020 to $23 on March 31, 2020. Brent crude oil prices rebounded to $41 per barrel from increased global demand as pandemic restrictions started to ease and decreased production but remained significantly lower compared to the start of the year. The record production cut agreed to by OPEC and other oil producing countries in April was extended through July 2020. While commodity prices can be volatile, the sharp decline earlier this year triggered E&P companies to reduce budgets and delay near-term spending, but is also a catalyst to drive necessary cost restructuring and digital transformation of the E&P ecosystem. Onshore North America has had steeper declines than the international market, and the Company’s geographic focus is global offshore. Even so, the Company has already seen a material slowdown in offshore seismic activity and expect that the second half of 2020 have its challenges. The Company expects continued portfolio rationalization and high grading as E&P companies seek to find the best return on investment opportunities to meet oil and gas demand in the next decade. Near-term, due to the impact of the COVID-19, project high grading will likely be more acute due to budget cuts. The Company had already shifted its portfolio closer to reservoir, where revenue tends to be higher and more consistent. New Venture data acquisition offshore and Software and related personnel-based offshore services are expected to be most impacted by COVID-19 travel restrictions. While offshore operations will be temporarily impacted by travel restrictions, the Company believes the demand for digitalization technologies will remain strong. In some cases, ION technology is expected to be more relevant and valuable in the current environment, such as offerings that facilitate remote working. While the duration and extent of COVID-19 is difficult to predict, the Company’s first half revenues are greater than or equal to revenues in the comparable prior five years. There was a strong improvement in the Company’s cash balance from collection of accounts receivable related to its strong first quarter sales and realizing the additional cost reduction measures put in place entering the quarter as well as receiving government relief funding. The Company worked closely with its clients to understand revised budgets and to scale its business appropriately. To mitigate the impact of COVID-19 and oil price volatility, management implemented a plan to preserve cash and manage liquidity as follows: • Scaled down personnel costs and operating expenses in April 2020 by another $18.0 million during the remaining nine months of 2020, building on the over $20.0 million of cuts made in January 2020. These further reductions are primarily through a variety of furlough programs and reduced compensation arrangements across the Company’s worldwide workforce. The Company executives have taken a 20% base salary reduction and a tiered reduction scheme has been cascaded to the rest of the worldwide workforce. The Company’s Board of Directors have taken a 20% reduction in directors’ fees. In addition, the Company has curtailed use of external contractors, decreased travel and event costs and implemented new systems and processes that more efficiently support its business. • Reduced capital expenditures to an estimated $25.0 million to $35.0 million (a portion of which will be pre-funded or underwritten by the customers), down from the original budget of $35.0 million to $50.0 million, to reflect both reduced seismic demand and travel/border restrictions impacting new data acquisition offshore. This provides flexibility to aggressively reduce cash outflows while shifting to much lower cost reimaging programs. • Applied for various government assistance programs, of which approximately $7.0 million was received during the period. Receipt of this assistance allowed the Company to avoid further staff reductions while supporting its ongoing operations. • Re-negotiated existing lease agreements for its significant locations to obtain rent relief of approximately $4.0 million. The majority of the cash savings from the rent relief is expected to benefit the Company from July 2020 to March 2021. See Note 12 “ Lease Obligations ” for further details. • Announced the sale of its interest in INOVA Geophysical for $12.0 million that is expected to close during the fourth quarter of the year, subject to regulatory approvals and other closing conditions. • Entered into a settlement agreement with WesternGeco ending the decade-long patent litigation. See Note 9 “ Litigation ” for further details. • In addition, the Company reviewed its debt covenants and expects that it will remain in compliance for the next twelve months. The Company believes that the above management plan, which includes the use of government assistance programs, along with the Company’s existing cash balance, and the undrawn remaining borrowing capacity under its Credit Facility will be sufficient to meet the Company’s anticipated cash needs for the next twelve months. Significant Accounting Policies The Company’s significant accounting policies are disclosed in Note 1 “Summary of Significant Accounting Policies.” of the Annual Report on Form 10-K for the year ended December 31, 2019. There have been no changes in such policies or the application of such policies during the six months ended June 30, 2020 except as discussed in Note 2 “ Recent Accounting Pronouncements. ” Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions by management that affects the reported amounts in the condensed consolidated financial statements and accompanying notes. Areas involving significant estimates include, but are not limited to, accounts and unbilled receivables, inventory valuation, sales forecast related to multi-client data library, impairment of property, plant and equipment and goodwill and deferred taxes. Actual results could materially differ from those estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments.” The guidance replaces the incurred loss impairment methodology under the current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets ranging from short-term accounts receivables to long-term receivable financing. The Company adopted the standard using the prospective transition approach for its trade receivables and unbilled receivables. The adoption of the standard had no material impact on the Company’s condensed consolidated financial statements. On January 1, 2020, the Company adopted ASU 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This guidance simplifies the accounting for goodwill impairment by eliminating step 2 from the goodwill impairment test. As a result, an entity should recognize a goodwill impairment charge for the amount by which the reporting unit’s carrying amount exceeds its fair value. If fair value exceeds the carrying amount, no impairment should be recorded. Any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Impairment loss on goodwill cannot be reversed once recognized. The goodwill balance at June 30, 2020 before impairment charge was comprised of $19.2 million in the Optimization Software & Services and $2.9 million in the E&P Technology & Services reporting units. The Company recognized an impairment charge related to the goodwill of its Optimization Software & Service reporting unit, included within Operations Optimization segment, of $4.2 million for the six months ended June 30, 2020. See Note 10 “ Details of Selected Balance Sheet Accounts” for details.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company evaluates and reviews its results of operations based on two reporting segments: E&P Technology & Services and Operations Optimization. Refer to Item 2. “ Management’s Discussion and Analysis of Financial Condition and Results of Operations” for information about each business segment’s business, products and services. The segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Operating Decision Maker in determining how to allocate resources and evaluate performance. The Company measures segment operating results based on income (loss) from operations. The following table is a summary of segment information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net revenues: E&P Technology & Services: New Venture $ 4,686 $ 5,018 $ 6,127 $ 18,489 Data Library 6,867 17,794 46,998 27,742 Total multi-client revenues 11,553 22,812 53,125 46,231 Imaging and Reservoir Services 3,673 5,711 8,615 9,395 Total 15,226 28,523 61,740 55,626 Operations Optimization: Optimization Software & Services 3,377 5,720 7,804 10,753 Devices 4,128 7,532 9,601 12,352 Total 7,505 13,252 17,405 23,105 Total net revenues $ 22,731 $ 41,775 $ 79,145 $ 78,731 Gross profit: E&P Technology & Services $ 2,264 $ 12,357 $ 25,994 $ 17,797 Operations Optimization 2,320 7,226 6,934 11,698 Total gross profit $ 4,584 $ 19,583 $ 32,928 $ 29,495 Gross margin: E&P Technology & Services 15 % 43 % 42 % 32 % Operations Optimization 31 % (a) 55 % 40 % (a) 51 % Total gross margin 20 % 47 % 42 % 37 % Income (loss) from operations: E&P Technology & Services $ 442 $ 5,237 $ 18,394 (b) $ 3,622 Operations Optimization (474) 2,644 (3,733) (c) 2,814 Support and other (5,440) (10,434) (13,807) (24,926) Income (loss) from operations (5,472) (2,553) 854 (18,490) Interest expense, net (3,414) (3,111) (6,635) (6,223) Other income (expense), net 6,771 (d) 96 7,200 (d) (696) Income (loss) before income taxes $ (2,115) $ (5,568) $ 1,419 $ (25,409) (a) Operations Optimization segment gross margin is negatively impacted by an out of period adjustment to cost of sales of $1.3 million for the three and six months ended June 30, 2020. Excluding this adjustment, gross margin would have been 48% and 47%, respectively, for the three and six months ended June 30, 2020. See “ Out-of-Period Adjustments ” below for further details. (b) Includes impairment of multi-client data library of $1.2 million partly offset by a positive out of period adjustment of $1.0 million for the six months ended June 30, 2020. See “ Out-of-Period Adjustments ” below for further details. (c) Includes impairment of goodwill of $4.2 million for the six months ended June 30, 2020. (d) Includes amortization of the government relief funding expected to be forgiven of $6.9 million for the three and six months ended June 30, 2020. Intersegment sales are insignificant for all periods presented. Out-of-Period Adjustments During the second quarter of 2020, the Company identified two unrelated adjustments impacting prior periods. The net impact of these two out-of-period adjustments was an increase to loss from operations and net loss for the second quarter of 2020 of $0.3 million. The Company does not consider the adjustments, either individually or collectively, to be material to the prior periods nor to the second quarter of 2020. The first adjustment involved the release of previously deferred inventory costs within the Operations Optimization segment. These inventory costs were associated with towed streamer equipment repairs for repair orders which had been completed in prior periods. The Company made an adjustment to reduce the deferred inventory costs and recorded an increase to cost of products of $1.3 million during the quarter. Excluding this adjustment, Gross Margin of the Operations Optimization segment would have been 48% and 47%, as adjusted, compared to 31% and 40%, as reported, respectively, for the three and six months ended June 30, 2020. The second adjustment related to the release of a commission accrual within the E&P Technology & Services segment of $1.0 million. The Company noted that certain accrued commissions were no longer payable as the associated sales targets were

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	Revenue From Contracts With Customers The Company derives revenue from the (i) sale or license of multi-client and proprietary data, imaging and reservoir services within its E&P Technologies & Services segment; (ii) sale, license and repair of seismic data acquisition systems and other equipment; and (iii) sale or license of seismic command and control software systems and software solutions for operations management within its Operations Optimization segment. All E&P Technology & Services’ revenues and the services component of Optimization Software & Services’ revenues under Operations Optimization segment are classified as service revenues. All other revenues are classified as product revenues. The Company uses a five-step model to determine proper revenue recognition from customer contracts. Revenue is recognized when (i) a contract is approved by all parties; (ii) the goods or services promised in the contract are identified; (iii) the consideration the Company expects to receive in exchange for the goods or services promised is determined; (iv) the consideration is allocated to the goods and services in the contract; and (v) control of the promised goods or services is transferred to the customer. The Company is not required to disclose information about remaining contractual future performance obligations with an original term of one year or less. The Company does not have any contractual future performance obligations with an original term of over one year. Revenue by Geographic Area The following table is a summary of net revenues by geographic area (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 North America $ 5,631 $ 13,645 $ 37,441 $ 20,802 Latin America 4,966 14,321 14,770 27,852 Asia Pacific 2,631 3,676 11,919 5,543 Europe 6,176 6,123 9,986 16,515 Middle East 942 1,106 1,896 2,465 Africa 1,004 2,278 1,595 4,667 Other 1,381 626 1,538 887 Total $ 22,731 $ 41,775 $ 79,145 $ 78,731 See Note 3 “Segment Information” for revenue by segment for the three and six months ended June 30, 2020 and 2019. Unbilled Receivables Unbilled receivables relate to revenues recognized on multi-client surveys, imaging and reservoir services and devices equipment repairs on a proportionate basis, and on licensing of multi-client data for which invoices have not yet been presented to the customer. The following table is a summary of unbilled receivables (in thousands): June 30, 2020 December 31, 2019 New Venture $ 5,515 $ 5,222 Imaging and Reservoir Services 5,647 6,539 Devices 1,775 54 Total $ 12,937 $ 11,815 The changes in unbilled receivables are as follows (in thousands): Unbilled receivables at December 31, 2019 $ 11,815 Recognition of unbilled receivables 76,561 Revenues billed to customers (75,439) Unbilled receivables at June 30, 2020 $ 12,937 Deferred Revenue Billing practices are governed by the terms of each contract based upon achievement of milestones or pre-agreed schedules. Billing does not necessarily correlate with revenue recognized on a proportionate basis as work is performed and control is transferred to the customer. Deferred revenue represents cash received in excess of revenue recognized as of the reporting period but to be recognized in future periods. The following table is a summary of deferred revenues (in thousands): June 30, 2020 December 31, 2019 New Venture $ 2,385 $ 1,956 Imaging and Reservoir Services 872 1,501 Optimization Software & Services 696 642 Devices 105 452 Total $ 4,058 $ 4,551 The changes in deferred revenues are as follows (in thousands): Deferred revenue at December 31, 2019 $ 4,551 Cash collected in excess of revenue recognized 2,094 Recognition of deferred revenue (a) (2,587) Deferred revenue at June 30, 2020 $ 4,058 (a) The majority of deferred revenue recognized relates to Company’s Ventures group. The Company expects to recognize the majority of deferred revenue within the next 12 months. Credit Risks For the six months ended June 30, 2020, the Company had one customer with sales that exceeded 10% of the Company’s consolidated net revenues. For six months ended June 30, 2019, the Company had one customer with sales that exceeded 10% of the Company’s consolidated net revenues. Revenues related to each of these customers are included within the E&P Technology & Services segment. At June 30, 2020, the Company had two customers with balances that accounted for 33% of the Company’s total combined accounts receivable and unbilled receivable balances. The Company routinely evaluates the financial stability and creditworthiness of its customers. At June 30, 2019, the Company had two customers with a combined balance that accounted for 26% of the Company’s total combined accounts receivable and unbilled receivable balances.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The following table is a summary of long-term debt (in thousands): June 30, 2020 December 31, 2019 Senior secured second-priority lien notes (maturing December 15, 2021) $ 120,569 $ 120,569 Revolving credit facility (maturing August 16, 2023) (a) 22,500 — Equipment finance leases (Note 12) 1,315 1,869 Other debt — 972 Costs associated with issuances of debt (1,465) (1,951) Total 142,919 121,459 Current maturities of long-term debt (23,685) (2,107) Long-term debt, net of current maturities $ 119,234 $ 119,352 (a) The maturity of the Credit Facility will accelerate to October 31, 2021 if the Company is unable to repay or extend the maturity of the Second Lien Notes. Revolving Credit Facility On August 16, 2018, ION Geophysical Corporation and its material U.S. subsidiaries — GX Technology Corporation, ION Exploration Products (U.S.A) Inc. and I/O Marine Systems Inc. (the “Material U.S. Subsidiaries”) — along with GX Geoscience Corporation, S. de R.L. de C.V., a limited liability company (Sociedad de Responsibilidad Limitada de Capital Variable) organized under the laws of Mexico, and a subsidiary of the Company (the “Mexican Subsidiary”) (the Material U.S. Subsidiaries and the Mexican Subsidiary are collectively, the “Subsidiary Borrowers”, together with ION Geophysical Corporation are the “Borrowers”) — the financial institutions party thereto, as lenders, and PNC Bank, National Association (“PNC”), as agent for the lenders, entered into that certain Third Amendment and Joinder to Revolving Credit and Security Agreement (the “Third Amendment”), amending the Revolving Credit and Security Agreement, dated as of August 22, 2014 (as previously amended by the First Amendment to Revolving Credit and Security Agreement, dated as of August 4, 2015 and the Second Amendment to Revolving Credit and Security Agreement, dated as of April 28, 2016, the “Credit Agreement”). The Credit Agreement, as amended by the First Amendment, the Second Amendment and the Third Amendment is herein called the “Credit Facility”). The Credit Facility is available to provide for the Borrowers’ general corporate needs, including working capital requirements, capital expenditures, surety deposits and acquisition financing. The Third Amendment amended the Credit Agreement to, among other things: • extend the maturity date of the Credit Facility by approximately four years (from August 22, 2019 to August 16, 2023), subject to the Company’s retirement or extension of the maturity date of its Second Lien Notes, as defined below, which mature on December 15, 2021; • increase the maximum revolver amount by $10.0 million (from $40.0 million to $50.0 million); • increase the borrowing base percentage of the net orderly liquidation value as it relates to the multi-client data library (not to exceed $28.5 million, up from the previous maximum of $15.0 million for the multi-client data library component); • include the eligible billed receivables of the Mexican Subsidiary up to a maximum of $5.0 million in the borrowing base calculation and joins the Mexican Subsidiary as a borrower thereunder (with a maximum exposure of $5.0 million) and require the equity and assets of the Mexican Subsidiary to be pledged to secure obligations under the facility; • modify the interest rate such that the maximum interest rate remains consistent with the fixed interest rate prior to the Third Amendment (that is, 3.00% per annum for domestic rate loans and 4.00% per annum for LIBOR rate loans), but now lowers the range down to a minimum interest rate of 2.00% for domestic rate loans and 3.00% for LIBOR rate loans based on a leverage ratio for the preceding four-quarter period; • decrease the minimum excess borrowing availability threshold which (if the Borrowers have minimum excess borrowing availability below any such threshold) triggers the agent’s right to exercise dominion over cash and deposit accounts; and • modify the trigger required to test for compliance with the fixed charges coverage ratio, which is further described below. The maximum amount available under the Credit Facility is the lesser of $50.0 million or a monthly borrowing base. The borrowing base under the Credit Facility will increase or decrease monthly using a formula based on certain eligible receivables, eligible inventory and other amounts, including a percentage of the net orderly liquidation value of the Borrowers’ multi-client library. At June 30, 2020, there was $22.5 million outstanding indebtedness under the Credit Facility and the undrawn remaining borrowing base capacity was $8.8 million. The obligations of Borrowers under the Credit Facility are secured by a first-priority security interest in 100% of the stock of the Subsidiary Borrowers and 65% of the equity interest in ION International Holdings L.P., and by substantially all other assets of the Borrowers. However, the first-priority security interest in the other assets of the Mexican Subsidiary is capped to a maximum exposure of $5.0 million. The Credit Facility contains covenants that, among other things, limit or prohibit the Borrowers, subject to certain exceptions and qualifications, from incurring additional indebtedness in excess of permitted indebtedness (including finance lease obligations), repurchasing equity, paying dividends or distributions, granting or incurring additional liens on the Borrowers’ properties, pledging shares of the Borrowers’ subsidiaries, entering into certain merger transactions, entering into transactions with the Company’s affiliates, making certain sales or other dispositions of the Borrowers’ assets, making certain investments, acquiring other businesses and entering into sale-leaseback transactions with respect to the Borrowers’ property. The Credit Facility requires that the Borrowers maintain a minimum fixed charge coverage ratio of 1.1 to 1.0 as of the end of each fiscal quarter during the existence of a covenant testing trigger event. The fixed charge coverage ratio is defined as the ratio of (i) ION Geophysical Corporation’s earnings before interest, taxes, depreciation and amortization (“EBITDA”), minus unfunded capital expenditures made during the relevant period, minus distributions (including tax distributions) and dividends made during the relevant period, minus cash taxes paid during the relevant period, to (ii) certain debt payments made during the relevant period. A covenant testing trigger event occurs upon (a) the occurrence and continuance of an event of default under the Credit Facility or (b) by a two-step process based on (i) a minimum excess borrowing availability threshold (excess borrowing availability less than $6.25 million for five consecutive days or $5.0 million on any given day), and (ii) the Borrowers’ unencumbered cash maintained in a PNC deposit account is less than the Borrowers’ then outstanding obligations. At June 30, 2020, the Company was in compliance with all of the covenants under the Credit Facility. The Credit Facility contains customary event of default provisions (including a “change of control” event affecting ION Geophysical Corporation), the occurrence of which could lead to an acceleration of ION Geophysical Corporation’s obligations under the Credit Facility. Senior Secured Notes ION Geophysical Corporation’s 9.125% Senior Secured Second Priority Notes due December 2021 (the “Second Lien Notes”) are senior secured second-priority obligations guaranteed by the Material U.S. Subsidiaries and the Mexican Subsidiary (each as defined above and herein below, with the reference to the Second Lien Notes, the “Guarantors”). Interest on the Second Lien Notes is payable semiannually in arrears on June 15 and December 15 of each year during their term, except that the interest payment otherwise payable on June 15, 2021 will be payable on December 15, 2021. The April 2016 indenture governing the Second Lien Notes contains certain covenants that, among other things, limits or prohibits ION Geophysical Corporation’s ability and the ability of its restricted subsidiaries to take certain actions or permit certain conditions to exist during the term of the Second Lien Notes, including among other things, incurring additional indebtedness in excess of permitted indebtedness, creating liens, paying dividends and making other distributions in respect of ION Geophysical Corporation’s capital stock, redeeming ION Geophysical Corporation’s capital stock, making investments or certain other restricted payments, selling certain kinds of assets, entering into transactions with affiliates, and effecting mergers or consolidations. These and other restrictive covenants contained in the Second Lien Notes Indenture are subject to certain exceptions and qualifications. All of ION Geophysical Corporation’s subsidiaries are currently restricted subsidiaries. At June 30, 2020, the Company was in compliance with all of the covenants under the Second Lien Notes. On or after December 15, 2019, the Company may, on one or more occasions, redeem all or a part of the Second Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Second Lien Notes redeemed during the twelve-month period beginning on December 15th of the years indicated below: Date Percentage 2019 105.50% 2020 103.50% 2021 100.00%

Government Relief Funding

Government Relief Funding	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Government Relief Funding	Government Relief Funding On April 11, 2020, the Company entered into a Note Agreement (“Note”) with PNC amounting to $6.9 million pursuant to the Coronavirus Aid, Relief, and Economic Security Act’s (“CARES Act”) Paycheck Protection Program (“PPP”). Amounts outstanding under this Note will bear interest at 1% per annum as of the date of disbursement. Interest will be calculated based on the actual number of days that principal is outstanding over a year of 360 days. The Note matures in two years after the receipt of the loan proceeds. The Company will apply to PNC for forgiveness of the amount due on this Note in an amount based on the sum of the following costs incurred by the Company’s US operations during the 24-week period beginning on the date of first disbursement (For payroll costs, it is beginning on the date of the first pay period following disbursement. For non-payroll costs, it is beginning on the date of first disbursement.) of this Note: (a) payroll costs; (b) any payment on a covered rent obligation; and (c) any covered utility payment. The amount of forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the PPP, including the provisions of Section 1106 of the CARES Act. The forgiveness amount will be subject to the Small Business Administration’s review. Any outstanding principal amount under this Note that is not forgiven under the PPP shall convert to an amortizing term loan. The Company recognized the Note following the government grant accounting by analogy to International Accounting Standards (“IAS”) 20, “Accounting for Government Grants and Disclosure of Government Assistance.”

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing net loss applicable to common shares by the weighted average number of common shares outstanding during the period. Diluted net income per common share is determined based on the assumption that dilutive restricted stock and restricted stock unit awards have vested and outstanding dilutive stock options have been exercised and the aggregate proceeds were used to reacquire common stock using the average price of such common stock for the period. The total number of shares issuable pursuant to outstanding stock options at June 30, 2020 and 2019 of 647,483 and 766,659, respectively, were excluded as their inclusion would have an anti-dilutive effect. The total number of shares issuable pursuant to restricted stock units awards outstanding at June 30, 2020 and 2019 of 873,371 and 794,994, respectively, were excluded as their inclusion would have an anti-dilutive effect.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company maintains a valuation allowance for substantially all of its deferred tax assets. A valuation allowance is established or maintained when it is “more likely than not” that all or a portion of deferred tax assets will not be realized. The Company will continue to record a valuation allowance for the substantial majority of its deferred tax assets until there is sufficient evidence to warrant reversal. The tax provision for the six months ended June 30, 2020 has been calculated using the Company’s overall estimated annual effective tax rate based on projected 2020 full year results. The Company’s effective tax rates for the three and six months ended June 30, 2020 and 2019 were negatively impacted by the change in valuation allowance related to U.S. operating losses for which the Company cannot currently recognize a tax benefit. The Company’s effective tax rates for the six months ended June 30, 2020 were also negatively impacted by the establishment of a valuation allowance related to certain foreign losses. Due to the impact of the valuation allowances on tax expense, the Company’s effective tax rates are not meaningful for all periods presented. The Company’s income tax expense for the six months ended June 30, 2020 of $8.9 million primarily relates to results from the Company’s non-U.S. businesses, including $2.2 million of valuation allowance. The valuation allowance was established as a result of a change in the expectation of future revenues after entering into the settlement agreement with WesternGeco described in Note 9 “ Litigation ”. In response to the global pandemic related to COVID-19, the President of the United States signed into law the CARES Act on March 27, 2020. The CARES Act provides numerous relief provisions for corporate tax payers, including modification of the utilization limitations on net operating losses, favorable expansions of the deduction for business interest expense under Internal Revenue Code Section 163(j), and the ability to accelerate timing of refundable AMT credits. For the six months ended June 30, 2020, there were no material tax impacts to our condensed consolidated financial statements as it relates to COVID-19 measures. The Company received $0.8 million of AMT credit refund for the three and six months ended June 30, 2020. The Company continues to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others. At June 30, 2020, the Company has approximately $0.4 million of unrecognized tax benefits and does not expect to recognize significant increases in unrecognized tax benefits during the next twelve-month period. Interest and penalties, if any, related to unrecognized tax benefits are recorded in income tax expense. At June 30, 2020, the Company’s U.S. federal tax returns for 2016 and subsequent years remain subject to examination by tax authorities. In the Company’s foreign tax jurisdictions, tax returns for 2014 and subsequent years generally remain open to examination.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation WesternGeco Settlement On April 7, 2020, the Company entered into a settlement agreement with WesternGeco that ended the ongoing litigation. Pursuant to the settlement agreement, WesternGeco granted the Company a license to the underlying patents, lifted the injunction that prevented the Company from manufacturing DigiFIN ® in the United States and, on April 13, 2020, the District Court permanently dismissed the pending lawsuit. In exchange, the Company agreed to pay WesternGeco a settlement based on future revenues from the Company’s multi-client data library, consisting of (1) small percentage of 2D multi-client data library sales for a ten Background In June 2009, WesternGeco L.L.C. (“WesternGeco”) filed a lawsuit against the Company in the United States District Court for the Southern District of Texas (the “District Court”). In the lawsuit, styled WesternGeco L.L.C. v. ION Geophysical Corporation , WesternGeco alleged that the Company had infringed four of their patents concerning marine seismic surveys. Trial began in July 2012, and the jury returned a verdict in August 2012. The jury found that the Company infringed the six “claims” contained in four of WesternGeco’s patents by supplying the Company’s DigiFIN lateral streamer control units from the United States. (In patent law, a “claim” is a technical legal term; an infringer infringes on one or more “claims” of a given patent.) In May 2014, the District Court entered a Final Judgment against the Company in the amount of $123.8 million. The Final Judgment also enjoined the Company from supplying DigiFINs or any parts unique to DigiFINs in or from the United States. As of 2018, the Company had paid WesternGeco the $25.8 million of the Final Judgment (the portion of the judgment representing reasonable royalty damages and enhanced damages, plus interest). The balance of the judgment against the Company ($98.0 million, representing lost profits from surveys performed by the Company’s customers outside of the United States, plus interest) was vacated by the United States Court of Appeals for the Federal Circuit (the award of lost profit damages was vacated because the Patent Trial and Appeal Board of the Patent and Trademark Office invalidated four of the five patent claims that could have supported an award of lost profit), and a new trial ordered, to determine what lost profit damages, if any, WesternGeco was entitled to. As noted above, the lawsuit has been dismissed in accordance with the parties’ settlement agreement. Other Litigation In July 2018, the Company prevailed in an arbitration that it initiated against the Indian Directorate General of Hydrocarbons (“DGH”) relating to the Company’s ability to continue to license data under the Company’s IndiaSPAN program. The DGH filed a lawsuit in court in India to vacate the arbitration award; in connection with that lawsuit, the Company was ordered to escrow approximately $4.5 million in sales proceeds that it had received in respect of sales from the IndiaSPAN program, pending the outcome of the DGH’s challenge to the arbitration award. The Company challenged the escrow order, but on December 9, 2019, the Supreme Court of India ordered the Company to comply with it, which would have required the Company to deposit approximately $4.5 million in escrow in early 2020. The Company prepared a petition to file with the court to request that a March 2020 deadline be extended due to the changes to the Company’s business, and to the markets, that have been spurred by the COVID-19 pandemic. The Company was unable to file the application because the courts in India are closed due to the pandemic (other than for emergencies) and are not accepting filings. The Company served a copy of its draft petition on the DGH’s counsel and intend to file it as soon as the courts re-open and resume accepting filings. The Company prevailed on the merits in the arbitration and expect to have that award upheld in Indian court, which would result in release of the Company’s portion of the escrowed money. The DGH’s request to vacate the arbitration award is scheduled to be heard by the court in India on September 9, 2020. The Company has not escrowed the money as of June 30, 2020. The Company has been named in various other lawsuits or threatened actions that are incidental to its ordinary business. Litigation is inherently unpredictable. Any claims against the Company, whether meritorious or not, could be time-consuming, cause the Company to incur costs and expenses, require significant amounts of management time and result in the diversion of significant operational resources. The results of these lawsuits and actions cannot be predicted with certainty. The Company currently believes that the ultimate resolution of these matters will not have a material adverse effect on its financial condition or results of operations.

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Details of Selected Balance Sheet Accounts	Details of Selected Balance Sheet Accounts Inventories A summary of inventories follows (in thousands): June 30, 2020 December 31, 2019 Raw materials and subassemblies $ 18,128 $ 18,509 Work-in-process 2,068 2,079 Finished goods 4,568 4,932 Less: reserve for excess and obsolete inventories (12,902) (13,333) Inventories, net $ 11,862 $ 12,187 Property, Plant and Equipment A summary of property, plant and equipment follows (in thousands): June 30, 2020 December 31, 2019 Buildings $ 15,694 $ 15,486 Machinery and equipment 133,923 133,048 Seismic rental equipment 1,671 1,669 Furniture and fixtures 3,155 3,347 Other (a) 29,989 31,142 Total 184,432 184,692 Less: accumulated depreciation (135,959) (134,951) Less: impairment of long-lived assets (36,553) (36,553) Property, plant and equipment, net $ 11,920 $ 13,188 (a) Consists primarily of cable-based ocean bottom acquisition technologies that were fully impaired. Total depreciation expense, including amortization of assets recorded under equipment finance leases, for both the six months ended June 30, 2020 and 2019 was $1.8 million and $1.6 million, respectively. No impairment charge was recognized during the six months ended June 30, 2020 and 2019. Multi-client Data Library The change in multi-client data library are as follows (in thousands): June 30, 2020 December 31, 2019 Gross costs of multi-client data creation $ 1,013,181 $ 1,007,762 Less: accumulated amortization (829,102) (816,401) Less: impairments to multi-client data library (132,144) (130,977) Multi-client data library, net $ 51,935 $ 60,384 Total amortization expense for the six months ended June 30, 2020 and 2019 was $12.7 million and $19.4 million, respectively. For the six months ended June 30, 2020, the Company recognized an impairment to multi-client data library of $1.2 million. No impairment to multi-client data library was recognized during the six months ended June 30, 2019. Goodwill E&P Technology & Services Optimization Software & Services Total Balance at January 1, 2019 $ 2,943 $ 19,972 $ 22,915 Impact of foreign currency translation adjustments — 670 670 Balance at December 31, 2019 2,943 20,642 23,585 Impairment of goodwill — (4,150) (4,150) Impact of foreign currency translation adjustments — (1,406) (1,406) Balance at June 30, 2020 $ 2,943 $ 15,086 $ 18,029 The Company, following the qualitative consideration, assessed the relevant events and circumstances in evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. During the first quarter of 2020, markets for oil and gas, as well as other commodities and equities, experienced significant volatility and price declines amid concerns over the economic effects of the COVID-19 pandemic. As a result, the Company’s stock price experienced a significant decline during the first quarter of 2020. Based on these facts, the Company performed a goodwill impairment test at March 31, 2020 to determine if it was more likely than not that the fair value of certain reporting units were less than their carrying value. The Company, following the quantitative consideration, compared the fair value of each reporting unit against its carrying value. If the carrying value of the reporting unit exceeds the fair value, an impairment loss shall be recognized in an amount equal to that excess. The fair value of each reporting unit at March 31, 2020 was determined using a discounted cash flow model. The Company utilized a discount rate of 19% for both reporting units. The Company used reasonable assumptions based on historical data supplemented by anticipated market conditions and estimated growth rates. However, given the uncertainty in determining the assumptions underlying a discounted cash flow analysis, actual results may differ which could result in additional impairment charge in the future. As a result of this assessment, the Company recorded an impairment charge of $4.2 million for the six months ended June 30, 2020 related to its Optimization Software & Services reporting unit, which is included within the Operations Optimization segment. No impairment charge was recognized for the E&P Technology Services reporting unit for the six months ended June 30, 2020.

Stockholder's Equity and Stock-

Stockholder's Equity and Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stockholder's Equity and Stock-Based Compensation Expense	Stockholder's Equity and Stock-Based Compensation Expense Stock-Based Compensation The total number of shares issued or reserved for future issuance under outstanding stock options at June 30, 2020 and 2019 was 647,483 and 766,659, respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at June 30, 2020 and 2019 was 873,371 and 794,994, respectively. The total number of stock appreciation rights (“SARs”) awards outstanding at June 30, 2020 and 2019 was 906,850 and 1,063,013, respectively. The following table presents a summary of the activity related to stock options, restricted stock, restricted stock unit awards and SARs awards for the six months ended June 30, 2020: Stock Options Restricted Stock and Unit Awards Stock Appreciation Rights Number of Shares Outstanding at December 31, 2019 689,209 908,754 954,679 Granted — 67,500 — Stock options and SARs exercised/restricted stock and unit awards vested (5,000) (17,089) — Cancelled/forfeited (36,726) (85,794) (47,829) Outstanding at June 30, 2020 647,483 873,371 906,850 Stock-based compensation expense recognized for the six months ended June 30, 2020 and 2019, totaled $1.1 million and $2.8 million, respectively. SARs (credit) expense recognized for the six months ended June 30, 2020 and 2019, totaled $(1.0) million and $2.0 million, respectively. SARs awards are considered liability awards as they are ultimately settled in cash. As such, these amounts are incrementally accrued in the liability section of the condensed consolidated balance sheets over the service period. All of the Company’s currently outstanding SARs awards achieve vesting through both a market condition and a service condition. SARs awards that are fully vested under both conditions are measured at intrinsic value (i.e. the difference between the market price on the last day of the quarter and the strike price of the awards times the number of awards vested and outstanding) and marked to market each quarter until settled. SARs awards that are not fully vested are incrementally accrued over the service period and adjusted to their fair value each quarter until settled based on a valuation model. The Company calculated the fair value of each award at June 30, 2020 and December 31, 2019 using a Monte Carlo simulation model. The following assumptions were used: Risk-free interest rates 1.9 % Expected lives (in years) 5.31 Expected dividend yield — % Expected volatility 79 %

Lease Obligations

Lease Obligations	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lease Obligations	Lease Obligations The Company leases offices, processing centers, warehouse spaces and, to a lesser extent, certain equipment. These leases have remaining terms of 1 year to 10 years, some of which have options to extend for up to 10 years and/or options to terminate within 1 year. The options to renew are not recognized as part of the Company’s right-of-use assets and operating lease liabilities as the Company is not reasonably certain that it will exercise these options. In January 2020, the Company amended its existing Houston, Texas headquarters lease agreement by extending the lease term to June 30, 2029 and surrendering back to the landlord floors for which the Company had previously vacated. In July 2020, the Company re-negotiated the abovementioned lease agreement to modify the rent abatement period from October 2023 through February 2024 to July 2020 through March 2021. In May 2020, the Company amended its Houston data center lease agreement to reflect changes in the monthly base rent throughout the term of the lease and extend the lease term three months to December 2025. Total operating lease expense, including short-term lease expense was $5.3 million and $5.7 million for the six months ended June 30, 2020 and 2019, respectively. Future maturities of lease obligations are as follows (in thousands): For the year ending June 30, Operating Leases (a) Finance Leases Total 2021 $ 8,047 $ 1,254 $ 9,301 2022 9,011 130 9,141 2023 9,826 — 9,826 2024 7,096 — 7,096 2025 9,190 — 9,190 Thereafter 20,036 — 20,036 Total lease payments 63,206 1,384 64,590 Less: imputed interest (14,441) (69) (14,510) Total $ 48,765 $ 1,315 $ 50,080 (a) Future maturities are updated to reflect the rent relief impact related to the Houston data center lease amendment . The weighted average remaining lease term as of June 30, 2020 and December 31, 2019 was 5.33 years and 4.71 years, respectively. The weighted average discount rate used to determine the operating lease liability at June 30, 2020 and December 31, 2019 was 6.42% and 6.47%, respectively. Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 5,169 $ 6,261 Equipment finance leases 555 537 Equipment Finance Leases
Lease Obligations	Lease Obligations The Company leases offices, processing centers, warehouse spaces and, to a lesser extent, certain equipment. These leases have remaining terms of 1 year to 10 years, some of which have options to extend for up to 10 years and/or options to terminate within 1 year. The options to renew are not recognized as part of the Company’s right-of-use assets and operating lease liabilities as the Company is not reasonably certain that it will exercise these options. In January 2020, the Company amended its existing Houston, Texas headquarters lease agreement by extending the lease term to June 30, 2029 and surrendering back to the landlord floors for which the Company had previously vacated. In July 2020, the Company re-negotiated the abovementioned lease agreement to modify the rent abatement period from October 2023 through February 2024 to July 2020 through March 2021. In May 2020, the Company amended its Houston data center lease agreement to reflect changes in the monthly base rent throughout the term of the lease and extend the lease term three months to December 2025. Total operating lease expense, including short-term lease expense was $5.3 million and $5.7 million for the six months ended June 30, 2020 and 2019, respectively. Future maturities of lease obligations are as follows (in thousands): For the year ending June 30, Operating Leases (a) Finance Leases Total 2021 $ 8,047 $ 1,254 $ 9,301 2022 9,011 130 9,141 2023 9,826 — 9,826 2024 7,096 — 7,096 2025 9,190 — 9,190 Thereafter 20,036 — 20,036 Total lease payments 63,206 1,384 64,590 Less: imputed interest (14,441) (69) (14,510) Total $ 48,765 $ 1,315 $ 50,080 (a) Future maturities are updated to reflect the rent relief impact related to the Houston data center lease amendment . The weighted average remaining lease term as of June 30, 2020 and December 31, 2019 was 5.33 years and 4.71 years, respectively. The weighted average discount rate used to determine the operating lease liability at June 30, 2020 and December 31, 2019 was 6.42% and 6.47%, respectively. Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 5,169 $ 6,261 Equipment finance leases 555 537 Equipment Finance Leases

Supplemental Cash Flow Informat

Supplemental Cash Flow Information and Non-cash Activity	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information and Non-cash Activity	Supplemental Cash Flow Information and Non-cash Activity Supplemental disclosure of cash flow information are as follows (in thousands): Six Months Ended June 30, 2020 2019 Cash paid during the period for: Interest $ 6,048 $ 5,895 Income taxes 5,448 6,676 The following table is a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: June 30, 2020 2019 (In thousands) Cash and cash equivalents $ 62,540 $ 29,563 Restricted cash included in prepaid expenses and other assets 75 303 Total cash, cash equivalents, and restricted cash shown in statements of cash flows $ 62,615 $ 29,866

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Authoritative guidance on fair value measurements defines fair value, establishes a framework for measuring fair value and stipulates the related disclosure requirements. The Company follows a three-level hierarchy, under which the fair value hierarchy prioritizes the inputs used to measure fair value. The three-tiered hierarchy is summarized as follows: Level 1—Quoted prices in active markets for identical assets and liabilities. Level 2—Other significant observable inputs including quoted prices or other market data for similar assets and liabilities in active markets or quoted prices for identical or similar assets and liabilities in less active markets. Level 3—Significant unobservable inputs that require significant judgment for which there is little or no market data. Due to their highly liquid nature, the amount of the Company’s other financial instruments, including cash and cash equivalents, restricted cash, accounts and unbilled receivables, accounts payable and accrued multi-client data library royalties, represent their approximate fair value. The carrying amounts of the Company’s long-term debt at June 30, 2020 and December 31, 2019 were $144.4 million and $123.4 million, respectively, compared to its fair values of $120.9 million and $116.6 million at June 30, 2020 and December 31, 2019, respectively. Market conditions could cause an instrument to be reclassified from Level 1 to Level 2, or Level 2 to Level 3. The fair value of the long-term debt was reclassified from Level 1 to Level 2 during the six months ended June 30, 2020 resulting from less active market trading. The fair value of the long-term debt was calculated using Level 2 inputs using significant observable data points for similar liabilities where estimated values are determined from observable transactions. Fair value measurements are applied with respect to non-financial assets and liabilities when possible indicators of impairment exist, which would consist primarily of goodwill, multi-client data library and property, plant and equipment. The fair value of these assets is determined based on valuation techniques using the best information available and may include market comparables and discounted cash flow projections.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The Second Lien Notes were issued by ION Geophysical Corporation and are guaranteed by Guarantors, all of which are wholly owned subsidiaries. The Guarantors have fully and unconditionally guaranteed the payment obligations of ION Geophysical Corporation with respect to the Second Lien Notes. The following condensed consolidating financial information presents the results of operations, financial position and cash flows for: • ION Geophysical Corporation and the Guarantors (in each case, reflecting investments in subsidiaries utilizing the equity method of accounting). • All other subsidiaries of ION Geophysical Corporation that are not Guarantors. • The consolidating adjustments necessary to present ION Geophysical Corporation’s results on a consolidated basis. This condensed consolidating financial information should be read in conjunction with the accompanying condensed consolidated financial statements and footnotes. For additional information pertaining to the Second Lien Notes, See Item 2. “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ” in Part II of this Form 10-Q. June 30, 2020 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 47,328 $ 20 $ 15,192 $ — $ 62,540 Accounts receivable, net 8 5,912 4,657 — 10,577 Unbilled receivables — 7,514 5,423 — 12,937 Inventories, net — 6,836 5,026 — 11,862 Prepaid expenses and other current assets 1,975 1,366 1,121 — 4,462 Total current assets 49,311 21,648 31,419 — 102,378 Deferred income tax asset — 7,882 105 — 7,987 Property, plant and equipment, net 1,524 7,095 3,301 — 11,920 Multi-client data library, net — 44,347 7,588 — 51,935 Investment in subsidiaries 853,858 278,300 — (1,132,158) — Goodwill — — 18,029 — 18,029 Intercompany receivables — 284,828 118,065 (402,893) — Right-of-use assets 21,870 14,022 4,575 — 40,467 Other assets 2,637 825 51 — 3,513 Total assets $ 929,200 $ 658,947 $ 183,133 $ (1,535,051) $ 236,229 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Current maturities of long-term debt $ 22,500 $ 1,185 $ — $ — $ 23,685 Accounts payable 1,854 33,806 1,594 — 37,254 Accrued expenses 11,318 6,274 8,014 — 25,606 Accrued multi-client data library royalties — 21,101 215 — 21,316 Deferred revenue — 2,922 1,136 — 4,058 Current maturities of operating lease liabilities 3,526 3,668 1,161 — 8,355 Total current liabilities 39,198 68,956 12,120 — 120,274 Long-term debt, net of current maturities 119,105 129 — — 119,234 Operating lease liabilities, net of current maturities 21,037 15,319 4,053 — 40,409 Intercompany payables 795,192 — — (795,192) — Other long-term liabilities 386 36 — — 422 Total liabilities 974,918 84,440 16,173 (795,192) 280,339 (Deficit) Equity: Common stock 142 290,460 47,776 (338,236) 142 Additional paid-in capital 957,746 180,700 203,909 (384,609) 957,746 Accumulated earnings (deficit) (981,773) 404,753 24,715 (429,468) (981,773) Accumulated other comprehensive income (loss) (21,833) 4,238 (24,393) 20,155 (21,833) Due from ION Geophysical Corporation — (305,644) (86,655) 392,299 — Total stockholders’ (deficit) equity (45,718) 574,507 165,352 (739,859) (45,718) Noncontrolling interest — — 1,608 — 1,608 Total (deficit) equity (45,718) 574,507 166,960 (739,859) (44,110) Total liabilities and (deficit) equity $ 929,200 $ 658,947 $ 183,133 $ (1,535,051) $ 236,229 December 31, 2019 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 8,426 $ 26 $ 24,613 $ — $ 33,065 Accounts receivable, net 8 19,493 10,047 — 29,548 Unbilled receivables — 7,314 4,501 — 11,815 Inventories, net — 6,902 5,285 — 12,187 Prepaid expenses and other current assets 3,292 1,513 1,207 — 6,012 Total current assets 11,726 35,248 45,653 — 92,627 Deferred income tax asset 402 8,417 (85) — 8,734 Property, plant and equipment, net 786 8,112 4,290 — 13,188 Multi-client data library, net — 54,479 5,905 — 60,384 Investment in subsidiaries 841,522 279,327 — (1,120,849) — Goodwill — — 23,585 — 23,585 Intercompany receivables — 287,692 99,884 (387,576) — Right-of-use assets 11,934 15,802 4,810 — 32,546 Other assets 1,171 905 54 — 2,130 Total assets $ 867,541 $ 689,982 $ 184,096 $ (1,508,425) $ 233,194 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Current maturities of long-term debt $ 972 $ 1,135 $ — $ — $ 2,107 Accounts payable 2,259 44,641 2,416 — 49,316 Accrued expenses 9,933 9,982 10,413 — 30,328 Accrued multi-client data library royalties — 18,616 215 — 18,831 Deferred revenue — 3,465 1,086 — 4,551 Current maturities of operating lease liabilities 4,429 5,469 1,157 — 11,055 Total current liabilities 17,593 83,308 15,287 — 116,188 Long-term debt, net of current maturities 118,618 734 — — 119,352 Operating lease liabilities, net of current maturities 11,208 15,346 4,279 — 30,833 Intercompany payables 755,524 — — (755,524) — Other long-term liabilities 1,418 35 — — 1,453 Total liabilities 904,361 99,423 19,566 (755,524) 267,826 (Deficit) Equity: Common stock 142 290,460 47,776 (338,236) 142 Additional paid-in capital 956,647 180,700 203,909 (384,609) 956,647 Accumulated earnings (deficit) (974,291) 396,793 18,837 (415,630) (974,291) Accumulated other comprehensive income (loss) (19,318) 4,281 (21,907) 17,626 (19,318) Due from ION Geophysical Corporation — (281,675) (86,273) 367,948 — Total stockholders’ (deficit) equity (36,820) 590,559 162,342 (752,901) (36,820) Noncontrolling interest — — 2,188 — 2,188 Total (deficit) equity (36,820) 590,559 164,530 (752,901) (34,632) Total liabilities and (deficit) equity $ 867,541 $ 689,982 $ 184,096 $ (1,508,425) $ 233,194 Three Months Ended June 30, 2020 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 11,748 $ 10,983 $ — $ 22,731 Cost of sales — 13,231 4,916 — 18,147 Gross profit (loss) — (1,483) 6,067 — 4,584 Total operating expenses 5,332 2,724 2,000 — 10,056 Income (loss) from operations (5,332) (4,207) 4,067 — (5,472) Interest expense, net (3,310) (124) 20 — (3,414) Intercompany interest, net (268) (1,532) 1,800 — — Equity in earnings (losses) of investments (1,682) 4,160 — (2,478) — Other income 6,758 6 7 — 6,771 Net income (loss) before income taxes (3,834) (1,697) 5,894 (2,478) (2,115) Income tax expense (benefit) 1,385 (10) 1,677 — 3,052 Net income (loss) (5,219) (1,687) 4,217 (2,478) (5,167) Net income attributable to noncontrolling interest — — (52) — (52) Net income (loss) attributable to ION $ (5,219) $ (1,687) $ 4,165 $ (2,478) $ (5,219) Comprehensive net income (loss) $ (5,953) $ (1,687) $ 3,435 $ (1,696) $ (5,901) Comprehensive income attributable to noncontrolling interest — — (52) — (52) Comprehensive net income (loss) attributable to ION $ (5,953) $ (1,687) $ 3,383 $ (1,696) $ (5,953) Three Months Ended June 30, 2019 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 26,465 $ 15,310 $ — $ 41,775 Cost of sales — 15,741 6,451 — 22,192 Gross profit — 10,724 8,859 — 19,583 Total operating expenses 8,977 9,153 4,006 — 22,136 Income (loss) from operations (8,977) 1,571 4,853 — (2,553) Interest expense, net (3,197) (58) 144 — (3,111) Intercompany interest, net 223 (2,051) 1,828 — — Equity in earnings of investments 3,511 6,387 — (9,898) — Other income (expense), net (19) (88) 203 — 96 Net income (loss) before income taxes (8,459) 5,761 7,028 (9,898) (5,568) Income tax expense 163 1,162 1,394 — 2,719 Net income (loss) (8,622) 4,599 5,634 (9,898) (8,287) Net income attributable to noncontrolling interest — — (335) — (335) Net income (loss) attributable to ION $ (8,622) $ 4,599 $ 5,299 $ (9,898) $ (8,622) Comprehensive net income (loss) $ (9,562) $ 4,599 $ 4,341 $ (8,605) $ (9,227) Comprehensive income attributable to noncontrolling interest — — (335) — (335) Comprehensive net income (loss) attributable to ION $ (9,562) $ 4,599 $ 4,006 $ (8,605) $ (9,562) Six Months Ended June 30, 2020 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 52,170 $ 26,975 $ — $ 79,145 Cost of sales — 35,031 10,019 — 45,050 Impairment of multi-client data library — 1,167 — — 1,167 Gross profit — 15,972 16,956 — 32,928 Total operating expenses 13,452 9,704 4,768 — 27,924 Impairment of goodwill — — 4,150 — 4,150 Income (loss) from operations (13,452) 6,268 8,038 — 854 Interest expense, net (6,555) (162) 82 — (6,635) Intercompany interest, net (458) (3,459) 3,917 — — Equity in earnings (losses) of investments 7,946 5,892 — (13,838) — Other income 8,143 6 (949) — 7,200 Net income (loss) before income taxes (4,376) 8,545 11,088 (13,838) 1,419 Income tax expense (benefit) 3,106 585 5,235 — 8,926 Net income (loss) (7,482) 7,960 5,853 (13,838) (7,507) Net income attributable to noncontrolling interest — — 25 — 25 Net income (loss) attributable to ION $ (7,482) $ 7,960 $ 5,878 $ (13,838) $ (7,482) Comprehensive net income (loss) $ (9,997) $ 7,917 $ 3,367 $ (11,309) $ (10,022) Comprehensive loss attributable to noncontrolling interest — — 25 — 25 Comprehensive net income (loss) attributable to ION $ (9,997) $ 7,917 $ 3,392 $ (11,309) $ (9,997) Six Months Ended June 30, 2019 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 44,078 $ 34,653 $ — $ 78,731 Cost of sales — 35,941 13,295 — 49,236 Gross profit — 8,137 21,358 — 29,495 Total operating expenses 21,816 18,228 7,941 — 47,985 Income (loss) from operations (21,816) (10,091) 13,417 — (18,490) Interest expense, net (6,363) (107) 247 — (6,223) Intercompany interest, net 523 2,598 (3,121) — — Equity in earnings (losses) of investments (1,658) 8,388 — (6,730) — Other expense, net (12) (210) (474) — (696) Net income (loss) before income taxes (29,326) 578 10,069 (6,730) (25,409) Income tax expense (benefit) 656 (129) 3,599 — 4,126 Net income (loss) (29,982) 707 6,470 (6,730) (29,535) Net income attributable to noncontrolling interests — — (447) — (447) Net income (loss) applicable to ION $ (29,982) $ 707 $ 6,023 $ (6,730) $ (29,982) Comprehensive net income (loss) $ (29,952) $ 664 $ 6,040 $ (6,257) $ (29,505) Comprehensive income attributable to noncontrolling interest — — (447) — (447) Comprehensive net income (loss) attributable to ION $ (29,952) $ 664 $ 5,593 $ (6,257) $ (29,952) Six Months Ended June 30, 2020 Statement of Cash Flows ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 16,792 $ (1,234) $ 793 $ 16,351 Cash flows from investing activities: Cash invested in multi-client data library — (5,323) (9,273) (14,596) Purchase of property, plant and equipment (35) (247) (415) (697) Net cash used in investing activities (35) (5,570) (9,688) (15,293) Cash flows from financing activities: Borrowings under revolving line of credit 27,000 — — 27,000 Payments under revolving line of credit (4,500) — — (4,500) Proceeds from government relief funding 6,923 — — 6,923 Payments on notes payable and long-term debt (972) (555) — (1,527) Intercompany lending (6,289) 7,353 (1,064) — Other financing activities 5 — — 5 Net cash provided by (used in) financing activities 22,167 6,798 (1,064) 27,901 Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash — — 538 538 Net increase (decrease) in cash, cash equivalents and restricted cash 38,924 (6) (9,421) 29,497 Cash, cash equivalents and restricted cash at beginning of period 8,479 26 24,613 33,118 Cash, cash equivalents and restricted cash at end of period $ 47,403 $ 20 $ 15,192 $ 62,615 The following table is a reconciliation of cash and cash equivalents to total cash, cash equivalents, and restricted cash: June 30, 2020 ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash and cash equivalents $ 47,328 $ 20 $ 15,192 $ 62,540 Restricted cash included in prepaid expenses and other assets 75 — — 75 Total cash, cash equivalents, and restricted cash shown in statements of cash flows $ 47,403 $ 20 $ 15,192 $ 62,615 Six Months Ended June 30, 2019 Statement of Cash Flows ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 10,447 $ 4,668 $ (850) $ 14,265 Cash flows from investing activities: Investment in multi-client data library — (10,215) (4,567) (14,782) Purchase of property, plant and equipment (146) (395) (871) (1,412) Net cash used in investing activities (146) (10,610) (5,438) (16,194) Cash flows from financing activities: Payments on notes payable and long-term debt (868) (538) — (1,406) Intercompany lending (13,511) 6,495 7,016 — Other financing activities (551) — — (551) Net cash provided by (used in) financing activities (14,930) 5,957 7,016 (1,957) Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash — — (102) (102) Net increase (decrease) in cash, cash equivalents and restricted cash (4,629) 15 626 (3,988) Cash, cash equivalents and restricted cash at beginning of period 14,085 47 19,722 33,854 Cash, cash equivalents and restricted cash at end of period $ 9,456 $ 62 $ 20,348 $ 29,866 The following table is a reconciliation of cash and cash equivalents to total cash, cash equivalents, and restricted cash: June 30, 2019 ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash and cash equivalents $ 9,153 $ 62 $ 20,348 $ 29,563 Restricted cash included in prepaid expenses and other current assets 303 — — 303 Total cash, cash equivalents, and restricted cash shown in statement of cash flows $ 9,456 $ 62 $ 20,348 $ 29,866

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet of ION Geophysical Corporation and its subsidiaries (collectively referred to as the “Company” or “ION,” unless the context otherwise requires) at December 31, 2019, has been derived from the Company’s audited consolidated financial statements at that date. The condensed consolidated balance sheet at June 30, 2020, and the condensed consolidated statements of operations, condensed consolidated statements of comprehensive loss, condensed consolidated statements of stockholders' deficit for the three and six months ended June 30, 2020 and 2019 and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019, are unaudited. In the opinion of management, all adjustments of a normal recurring nature that are necessary for a fair presentation of the results of the interim period have been included. Interim results are not necessarily indicative of the operating results for a full year or of future operations. Intercompany transactions and balances have been eliminated. The Company’s condensed consolidated financial statements reflect a non-redeemable noncontrolling interest in a majority-owned affiliate which is reported as a separate component of equity in “Noncontrolling interest” in the condensed consolidated balance sheets. Net (income) loss attributable to noncontrolling interest is stated separately in the condensed consolidated statements of operations. The activity for this noncontrolling interest relates to proprietary processing projects in Brazil. These condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and applicable rules of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements presented in accordance with GAAP have been omitted. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions by management that affects the reported amounts in the condensed consolidated financial statements and accompanying notes. Areas involving significant estimates include, but are not limited to, accounts and unbilled receivables, inventory valuation, sales forecast related to multi-client data library, impairment of property, plant and equipment and goodwill and deferred taxes. Actual results could materially differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments.” The guidance replaces the incurred loss impairment methodology under the current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets ranging from short-term accounts receivables to long-term receivable financing. The Company adopted the standard using the prospective transition approach for its trade receivables and unbilled receivables. The adoption of the standard had no material impact on the Company’s condensed consolidated financial statements. On January 1, 2020, the Company adopted ASU 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.”

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of segment information	The following table is a summary of segment information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net revenues: E&P Technology & Services: New Venture $ 4,686 $ 5,018 $ 6,127 $ 18,489 Data Library 6,867 17,794 46,998 27,742 Total multi-client revenues 11,553 22,812 53,125 46,231 Imaging and Reservoir Services 3,673 5,711 8,615 9,395 Total 15,226 28,523 61,740 55,626 Operations Optimization: Optimization Software & Services 3,377 5,720 7,804 10,753 Devices 4,128 7,532 9,601 12,352 Total 7,505 13,252 17,405 23,105 Total net revenues $ 22,731 $ 41,775 $ 79,145 $ 78,731 Gross profit: E&P Technology & Services $ 2,264 $ 12,357 $ 25,994 $ 17,797 Operations Optimization 2,320 7,226 6,934 11,698 Total gross profit $ 4,584 $ 19,583 $ 32,928 $ 29,495 Gross margin: E&P Technology & Services 15 % 43 % 42 % 32 % Operations Optimization 31 % (a) 55 % 40 % (a) 51 % Total gross margin 20 % 47 % 42 % 37 % Income (loss) from operations: E&P Technology & Services $ 442 $ 5,237 $ 18,394 (b) $ 3,622 Operations Optimization (474) 2,644 (3,733) (c) 2,814 Support and other (5,440) (10,434) (13,807) (24,926) Income (loss) from operations (5,472) (2,553) 854 (18,490) Interest expense, net (3,414) (3,111) (6,635) (6,223) Other income (expense), net 6,771 (d) 96 7,200 (d) (696) Income (loss) before income taxes $ (2,115) $ (5,568) $ 1,419 $ (25,409) (a) Operations Optimization segment gross margin is negatively impacted by an out of period adjustment to cost of sales of $1.3 million for the three and six months ended June 30, 2020. Excluding this adjustment, gross margin would have been 48% and 47%, respectively, for the three and six months ended June 30, 2020. See “ Out-of-Period Adjustments ” below for further details. (b) Includes impairment of multi-client data library of $1.2 million partly offset by a positive out of period adjustment of $1.0 million for the six months ended June 30, 2020. See “ Out-of-Period Adjustments ” below for further details. (c) Includes impairment of goodwill of $4.2 million for the six months ended June 30, 2020. (d) Includes amortization of the government relief funding expected to be forgiven of $6.9 million for the three and six months ended June 30, 2020.

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	The following table is a summary of net revenues by geographic area (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 North America $ 5,631 $ 13,645 $ 37,441 $ 20,802 Latin America 4,966 14,321 14,770 27,852 Asia Pacific 2,631 3,676 11,919 5,543 Europe 6,176 6,123 9,986 16,515 Middle East 942 1,106 1,896 2,465 Africa 1,004 2,278 1,595 4,667 Other 1,381 626 1,538 887 Total $ 22,731 $ 41,775 $ 79,145 $ 78,731
Schedule of contract with customer, asset and liability	The following table is a summary of unbilled receivables (in thousands): June 30, 2020 December 31, 2019 New Venture $ 5,515 $ 5,222 Imaging and Reservoir Services 5,647 6,539 Devices 1,775 54 Total $ 12,937 $ 11,815 The changes in unbilled receivables are as follows (in thousands): Unbilled receivables at December 31, 2019 $ 11,815 Recognition of unbilled receivables 76,561 Revenues billed to customers (75,439) Unbilled receivables at June 30, 2020 $ 12,937 June 30, 2020 December 31, 2019 New Venture $ 2,385 $ 1,956 Imaging and Reservoir Services 872 1,501 Optimization Software & Services 696 642 Devices 105 452 Total $ 4,058 $ 4,551 The changes in deferred revenues are as follows (in thousands): Deferred revenue at December 31, 2019 $ 4,551 Cash collected in excess of revenue recognized 2,094 Recognition of deferred revenue (a) (2,587) Deferred revenue at June 30, 2020 $ 4,058

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of long-term debt	The following table is a summary of long-term debt (in thousands): June 30, 2020 December 31, 2019 Senior secured second-priority lien notes (maturing December 15, 2021) $ 120,569 $ 120,569 Revolving credit facility (maturing August 16, 2023) (a) 22,500 — Equipment finance leases (Note 12) 1,315 1,869 Other debt — 972 Costs associated with issuances of debt (1,465) (1,951) Total 142,919 121,459 Current maturities of long-term debt (23,685) (2,107) Long-term debt, net of current maturities $ 119,234 $ 119,352 (a) The maturity of the Credit Facility will accelerate to October 31, 2021 if the Company is unable to repay or extend the maturity of the Second Lien Notes.
Schedule of debt instrument redemption	On or after December 15, 2019, the Company may, on one or more occasions, redeem all or a part of the Second Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Second Lien Notes redeemed during the twelve-month period beginning on December 15th of the years indicated below: Date Percentage 2019 105.50% 2020 103.50% 2021 100.00%

Details of Selected Balance S_2

Details of Selected Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of inventories	A summary of inventories follows (in thousands): June 30, 2020 December 31, 2019 Raw materials and subassemblies $ 18,128 $ 18,509 Work-in-process 2,068 2,079 Finished goods 4,568 4,932 Less: reserve for excess and obsolete inventories (12,902) (13,333) Inventories, net $ 11,862 $ 12,187
Summary of property, plant, equipment and seismic rental equipment	A summary of property, plant and equipment follows (in thousands): June 30, 2020 December 31, 2019 Buildings $ 15,694 $ 15,486 Machinery and equipment 133,923 133,048 Seismic rental equipment 1,671 1,669 Furniture and fixtures 3,155 3,347 Other (a) 29,989 31,142 Total 184,432 184,692 Less: accumulated depreciation (135,959) (134,951) Less: impairment of long-lived assets (36,553) (36,553) Property, plant and equipment, net $ 11,920 $ 13,188 (a) Consists primarily of cable-based ocean bottom acquisition technologies that were fully impaired.
Schedule of multi-client data library	The change in multi-client data library are as follows (in thousands): June 30, 2020 December 31, 2019 Gross costs of multi-client data creation $ 1,013,181 $ 1,007,762 Less: accumulated amortization (829,102) (816,401) Less: impairments to multi-client data library (132,144) (130,977) Multi-client data library, net $ 51,935 $ 60,384
Schedule of goodwill	E&P Technology & Services Optimization Software & Services Total Balance at January 1, 2019 $ 2,943 $ 19,972 $ 22,915 Impact of foreign currency translation adjustments — 670 670 Balance at December 31, 2019 2,943 20,642 23,585 Impairment of goodwill — (4,150) (4,150) Impact of foreign currency translation adjustments — (1,406) (1,406) Balance at June 30, 2020 $ 2,943 $ 15,086 $ 18,029

Stockholder's Equity and Stoc_2

Stockholder's Equity and Stock-Based Compensation Expense (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock options activity	The following table presents a summary of the activity related to stock options, restricted stock, restricted stock unit awards and SARs awards for the six months ended June 30, 2020: Stock Options Restricted Stock and Unit Awards Stock Appreciation Rights Number of Shares Outstanding at December 31, 2019 689,209 908,754 954,679 Granted — 67,500 — Stock options and SARs exercised/restricted stock and unit awards vested (5,000) (17,089) — Cancelled/forfeited (36,726) (85,794) (47,829) Outstanding at June 30, 2020 647,483 873,371 906,850
Schedule of restricted stock and units awards activity	The following table presents a summary of the activity related to stock options, restricted stock, restricted stock unit awards and SARs awards for the six months ended June 30, 2020: Stock Options Restricted Stock and Unit Awards Stock Appreciation Rights Number of Shares Outstanding at December 31, 2019 689,209 908,754 954,679 Granted — 67,500 — Stock options and SARs exercised/restricted stock and unit awards vested (5,000) (17,089) — Cancelled/forfeited (36,726) (85,794) (47,829) Outstanding at June 30, 2020 647,483 873,371 906,850
Schedule of valuation assumptions	The following assumptions were used: Risk-free interest rates 1.9 % Expected lives (in years) 5.31 Expected dividend yield — % Expected volatility 79 %

Lease Obligations (Tables)

Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of maturities of lease obligations, finance lease	Future maturities of lease obligations are as follows (in thousands): For the year ending June 30, Operating Leases (a) Finance Leases Total 2021 $ 8,047 $ 1,254 $ 9,301 2022 9,011 130 9,141 2023 9,826 — 9,826 2024 7,096 — 7,096 2025 9,190 — 9,190 Thereafter 20,036 — 20,036 Total lease payments 63,206 1,384 64,590 Less: imputed interest (14,441) (69) (14,510) Total $ 48,765 $ 1,315 $ 50,080 (a) Future maturities are updated to reflect the rent relief impact related to the Houston data center lease amendment .
Schedule of maturities of lease obligations, operating lease	Future maturities of lease obligations are as follows (in thousands): For the year ending June 30, Operating Leases (a) Finance Leases Total 2021 $ 8,047 $ 1,254 $ 9,301 2022 9,011 130 9,141 2023 9,826 — 9,826 2024 7,096 — 7,096 2025 9,190 — 9,190 Thereafter 20,036 — 20,036 Total lease payments 63,206 1,384 64,590 Less: imputed interest (14,441) (69) (14,510) Total $ 48,765 $ 1,315 $ 50,080 (a) Future maturities are updated to reflect the rent relief impact related to the Houston data center lease amendment .
Schedule of components of lease expense	Six Months Ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 5,169 $ 6,261 Equipment finance leases 555 537

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information and Non-cash Activity (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Summary of non-cash items from investing and financing activities	Supplemental disclosure of cash flow information are as follows (in thousands): Six Months Ended June 30, 2020 2019 Cash paid during the period for: Interest $ 6,048 $ 5,895 Income taxes 5,448 6,676 The following table is a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: June 30, 2020 2019 (In thousands) Cash and cash equivalents $ 62,540 $ 29,563 Restricted cash included in prepaid expenses and other assets 75 303 Total cash, cash equivalents, and restricted cash shown in statements of cash flows $ 62,615 $ 29,866

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheet	June 30, 2020 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 47,328 $ 20 $ 15,192 $ — $ 62,540 Accounts receivable, net 8 5,912 4,657 — 10,577 Unbilled receivables — 7,514 5,423 — 12,937 Inventories, net — 6,836 5,026 — 11,862 Prepaid expenses and other current assets 1,975 1,366 1,121 — 4,462 Total current assets 49,311 21,648 31,419 — 102,378 Deferred income tax asset — 7,882 105 — 7,987 Property, plant and equipment, net 1,524 7,095 3,301 — 11,920 Multi-client data library, net — 44,347 7,588 — 51,935 Investment in subsidiaries 853,858 278,300 — (1,132,158) — Goodwill — — 18,029 — 18,029 Intercompany receivables — 284,828 118,065 (402,893) — Right-of-use assets 21,870 14,022 4,575 — 40,467 Other assets 2,637 825 51 — 3,513 Total assets $ 929,200 $ 658,947 $ 183,133 $ (1,535,051) $ 236,229 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Current maturities of long-term debt $ 22,500 $ 1,185 $ — $ — $ 23,685 Accounts payable 1,854 33,806 1,594 — 37,254 Accrued expenses 11,318 6,274 8,014 — 25,606 Accrued multi-client data library royalties — 21,101 215 — 21,316 Deferred revenue — 2,922 1,136 — 4,058 Current maturities of operating lease liabilities 3,526 3,668 1,161 — 8,355 Total current liabilities 39,198 68,956 12,120 — 120,274 Long-term debt, net of current maturities 119,105 129 — — 119,234 Operating lease liabilities, net of current maturities 21,037 15,319 4,053 — 40,409 Intercompany payables 795,192 — — (795,192) — Other long-term liabilities 386 36 — — 422 Total liabilities 974,918 84,440 16,173 (795,192) 280,339 (Deficit) Equity: Common stock 142 290,460 47,776 (338,236) 142 Additional paid-in capital 957,746 180,700 203,909 (384,609) 957,746 Accumulated earnings (deficit) (981,773) 404,753 24,715 (429,468) (981,773) Accumulated other comprehensive income (loss) (21,833) 4,238 (24,393) 20,155 (21,833) Due from ION Geophysical Corporation — (305,644) (86,655) 392,299 — Total stockholders’ (deficit) equity (45,718) 574,507 165,352 (739,859) (45,718) Noncontrolling interest — — 1,608 — 1,608 Total (deficit) equity (45,718) 574,507 166,960 (739,859) (44,110) Total liabilities and (deficit) equity $ 929,200 $ 658,947 $ 183,133 $ (1,535,051) $ 236,229 December 31, 2019 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 8,426 $ 26 $ 24,613 $ — $ 33,065 Accounts receivable, net 8 19,493 10,047 — 29,548 Unbilled receivables — 7,314 4,501 — 11,815 Inventories, net — 6,902 5,285 — 12,187 Prepaid expenses and other current assets 3,292 1,513 1,207 — 6,012 Total current assets 11,726 35,248 45,653 — 92,627 Deferred income tax asset 402 8,417 (85) — 8,734 Property, plant and equipment, net 786 8,112 4,290 — 13,188 Multi-client data library, net — 54,479 5,905 — 60,384 Investment in subsidiaries 841,522 279,327 — (1,120,849) — Goodwill — — 23,585 — 23,585 Intercompany receivables — 287,692 99,884 (387,576) — Right-of-use assets 11,934 15,802 4,810 — 32,546 Other assets 1,171 905 54 — 2,130 Total assets $ 867,541 $ 689,982 $ 184,096 $ (1,508,425) $ 233,194 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Current maturities of long-term debt $ 972 $ 1,135 $ — $ — $ 2,107 Accounts payable 2,259 44,641 2,416 — 49,316 Accrued expenses 9,933 9,982 10,413 — 30,328 Accrued multi-client data library royalties — 18,616 215 — 18,831 Deferred revenue — 3,465 1,086 — 4,551 Current maturities of operating lease liabilities 4,429 5,469 1,157 — 11,055 Total current liabilities 17,593 83,308 15,287 — 116,188 Long-term debt, net of current maturities 118,618 734 — — 119,352 Operating lease liabilities, net of current maturities 11,208 15,346 4,279 — 30,833 Intercompany payables 755,524 — — (755,524) — Other long-term liabilities 1,418 35 — — 1,453 Total liabilities 904,361 99,423 19,566 (755,524) 267,826 (Deficit) Equity: Common stock 142 290,460 47,776 (338,236) 142 Additional paid-in capital 956,647 180,700 203,909 (384,609) 956,647 Accumulated earnings (deficit) (974,291) 396,793 18,837 (415,630) (974,291) Accumulated other comprehensive income (loss) (19,318) 4,281 (21,907) 17,626 (19,318) Due from ION Geophysical Corporation — (281,675) (86,273) 367,948 — Total stockholders’ (deficit) equity (36,820) 590,559 162,342 (752,901) (36,820) Noncontrolling interest — — 2,188 — 2,188 Total (deficit) equity (36,820) 590,559 164,530 (752,901) (34,632) Total liabilities and (deficit) equity $ 867,541 $ 689,982 $ 184,096 $ (1,508,425) $ 233,194
Condensed Income Statement	Three Months Ended June 30, 2020 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 11,748 $ 10,983 $ — $ 22,731 Cost of sales — 13,231 4,916 — 18,147 Gross profit (loss) — (1,483) 6,067 — 4,584 Total operating expenses 5,332 2,724 2,000 — 10,056 Income (loss) from operations (5,332) (4,207) 4,067 — (5,472) Interest expense, net (3,310) (124) 20 — (3,414) Intercompany interest, net (268) (1,532) 1,800 — — Equity in earnings (losses) of investments (1,682) 4,160 — (2,478) — Other income 6,758 6 7 — 6,771 Net income (loss) before income taxes (3,834) (1,697) 5,894 (2,478) (2,115) Income tax expense (benefit) 1,385 (10) 1,677 — 3,052 Net income (loss) (5,219) (1,687) 4,217 (2,478) (5,167) Net income attributable to noncontrolling interest — — (52) — (52) Net income (loss) attributable to ION $ (5,219) $ (1,687) $ 4,165 $ (2,478) $ (5,219) Comprehensive net income (loss) $ (5,953) $ (1,687) $ 3,435 $ (1,696) $ (5,901) Comprehensive income attributable to noncontrolling interest — — (52) — (52) Comprehensive net income (loss) attributable to ION $ (5,953) $ (1,687) $ 3,383 $ (1,696) $ (5,953) Three Months Ended June 30, 2019 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 26,465 $ 15,310 $ — $ 41,775 Cost of sales — 15,741 6,451 — 22,192 Gross profit — 10,724 8,859 — 19,583 Total operating expenses 8,977 9,153 4,006 — 22,136 Income (loss) from operations (8,977) 1,571 4,853 — (2,553) Interest expense, net (3,197) (58) 144 — (3,111) Intercompany interest, net 223 (2,051) 1,828 — — Equity in earnings of investments 3,511 6,387 — (9,898) — Other income (expense), net (19) (88) 203 — 96 Net income (loss) before income taxes (8,459) 5,761 7,028 (9,898) (5,568) Income tax expense 163 1,162 1,394 — 2,719 Net income (loss) (8,622) 4,599 5,634 (9,898) (8,287) Net income attributable to noncontrolling interest — — (335) — (335) Net income (loss) attributable to ION $ (8,622) $ 4,599 $ 5,299 $ (9,898) $ (8,622) Comprehensive net income (loss) $ (9,562) $ 4,599 $ 4,341 $ (8,605) $ (9,227) Comprehensive income attributable to noncontrolling interest — — (335) — (335) Comprehensive net income (loss) attributable to ION $ (9,562) $ 4,599 $ 4,006 $ (8,605) $ (9,562) Six Months Ended June 30, 2020 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 52,170 $ 26,975 $ — $ 79,145 Cost of sales — 35,031 10,019 — 45,050 Impairment of multi-client data library — 1,167 — — 1,167 Gross profit — 15,972 16,956 — 32,928 Total operating expenses 13,452 9,704 4,768 — 27,924 Impairment of goodwill — — 4,150 — 4,150 Income (loss) from operations (13,452) 6,268 8,038 — 854 Interest expense, net (6,555) (162) 82 — (6,635) Intercompany interest, net (458) (3,459) 3,917 — — Equity in earnings (losses) of investments 7,946 5,892 — (13,838) — Other income 8,143 6 (949) — 7,200 Net income (loss) before income taxes (4,376) 8,545 11,088 (13,838) 1,419 Income tax expense (benefit) 3,106 585 5,235 — 8,926 Net income (loss) (7,482) 7,960 5,853 (13,838) (7,507) Net income attributable to noncontrolling interest — — 25 — 25 Net income (loss) attributable to ION $ (7,482) $ 7,960 $ 5,878 $ (13,838) $ (7,482) Comprehensive net income (loss) $ (9,997) $ 7,917 $ 3,367 $ (11,309) $ (10,022) Comprehensive loss attributable to noncontrolling interest — — 25 — 25 Comprehensive net income (loss) attributable to ION $ (9,997) $ 7,917 $ 3,392 $ (11,309) $ (9,997) Six Months Ended June 30, 2019 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 44,078 $ 34,653 $ — $ 78,731 Cost of sales — 35,941 13,295 — 49,236 Gross profit — 8,137 21,358 — 29,495 Total operating expenses 21,816 18,228 7,941 — 47,985 Income (loss) from operations (21,816) (10,091) 13,417 — (18,490) Interest expense, net (6,363) (107) 247 — (6,223) Intercompany interest, net 523 2,598 (3,121) — — Equity in earnings (losses) of investments (1,658) 8,388 — (6,730) — Other expense, net (12) (210) (474) — (696) Net income (loss) before income taxes (29,326) 578 10,069 (6,730) (25,409) Income tax expense (benefit) 656 (129) 3,599 — 4,126 Net income (loss) (29,982) 707 6,470 (6,730) (29,535) Net income attributable to noncontrolling interests — — (447) — (447) Net income (loss) applicable to ION $ (29,982) $ 707 $ 6,023 $ (6,730) $ (29,982) Comprehensive net income (loss) $ (29,952) $ 664 $ 6,040 $ (6,257) $ (29,505) Comprehensive income attributable to noncontrolling interest — — (447) — (447) Comprehensive net income (loss) attributable to ION $ (29,952) $ 664 $ 5,593 $ (6,257) $ (29,952)
Condensed Cash Flow Statement	Six Months Ended June 30, 2020 Statement of Cash Flows ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 16,792 $ (1,234) $ 793 $ 16,351 Cash flows from investing activities: Cash invested in multi-client data library — (5,323) (9,273) (14,596) Purchase of property, plant and equipment (35) (247) (415) (697) Net cash used in investing activities (35) (5,570) (9,688) (15,293) Cash flows from financing activities: Borrowings under revolving line of credit 27,000 — — 27,000 Payments under revolving line of credit (4,500) — — (4,500) Proceeds from government relief funding 6,923 — — 6,923 Payments on notes payable and long-term debt (972) (555) — (1,527) Intercompany lending (6,289) 7,353 (1,064) — Other financing activities 5 — — 5 Net cash provided by (used in) financing activities 22,167 6,798 (1,064) 27,901 Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash — — 538 538 Net increase (decrease) in cash, cash equivalents and restricted cash 38,924 (6) (9,421) 29,497 Cash, cash equivalents and restricted cash at beginning of period 8,479 26 24,613 33,118 Cash, cash equivalents and restricted cash at end of period $ 47,403 $ 20 $ 15,192 $ 62,615 The following table is a reconciliation of cash and cash equivalents to total cash, cash equivalents, and restricted cash: June 30, 2020 ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash and cash equivalents $ 47,328 $ 20 $ 15,192 $ 62,540 Restricted cash included in prepaid expenses and other assets 75 — — 75 Total cash, cash equivalents, and restricted cash shown in statements of cash flows $ 47,403 $ 20 $ 15,192 $ 62,615 Six Months Ended June 30, 2019 Statement of Cash Flows ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 10,447 $ 4,668 $ (850) $ 14,265 Cash flows from investing activities: Investment in multi-client data library — (10,215) (4,567) (14,782) Purchase of property, plant and equipment (146) (395) (871) (1,412) Net cash used in investing activities (146) (10,610) (5,438) (16,194) Cash flows from financing activities: Payments on notes payable and long-term debt (868) (538) — (1,406) Intercompany lending (13,511) 6,495 7,016 — Other financing activities (551) — — (551) Net cash provided by (used in) financing activities (14,930) 5,957 7,016 (1,957) Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash — — (102) (102) Net increase (decrease) in cash, cash equivalents and restricted cash (4,629) 15 626 (3,988) Cash, cash equivalents and restricted cash at beginning of period 14,085 47 19,722 33,854 Cash, cash equivalents and restricted cash at end of period $ 9,456 $ 62 $ 20,348 $ 29,866 The following table is a reconciliation of cash and cash equivalents to total cash, cash equivalents, and restricted cash: June 30, 2019 ION Geophysical Corporation The Guarantors All Other Subsidiaries Total Consolidated (In thousands) Cash and cash equivalents $ 9,153 $ 62 $ 20,348 $ 29,563 Restricted cash included in prepaid expenses and other current assets 303 — — 303 Total cash, cash equivalents, and restricted cash shown in statement of cash flows $ 9,456 $ 62 $ 20,348 $ 29,866

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity
Decrease in Brent crude oil prices (percent)		66.00%
Crude oil price		$ 23	$ 41	$ 66
Plan to decrease costs due to Covid 19			18,000,000
Decreases in expenses			$ 20,000,000
Executive salary reduction			20.00%
Decrease in board of director fees			20.00%
Proceeds from government assistance programs			$ 7,000,000
Accrued rent			4,000,000
Forecast | INOVA Geophysical
Variable Interest Entity
Sale of INOVA Geophysical	$ 12,000,000
Minimum
Variable Interest Entity
Forecasted capital expenditure			25,000,000	35,000,000
Maximum
Variable Interest Entity
Forecasted capital expenditure			$ 35,000,000	$ 50,000,000

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill
Impairment of goodwill	$ 0	$ 0	$ 4,150	$ 0
Optimization Software & Services
Goodwill
Goodwill before impairment	19,200		19,200
Impairment of goodwill			4,150
E&P Technology & Services
Goodwill
Goodwill before impairment	$ 2,900		2,900
Impairment of goodwill			$ 0

Segment Information - Narrative

Segment Information - Narratives (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Segment Reporting Information
Number of segments | segment			2
Cost of products	$ 18,147,000	$ 22,192,000	$ 45,050,000	$ 49,236,000
Gross margin (percent)	20.00%	47.00%	42.00%	37.00%
Impairment of multi-client data library	$ 0	$ 0	$ 1,167,000	$ 0
Impairment of goodwill	0	0	4,150,000	0
Amortization of government relief funding expected to be forgiven	6,900,000		6,923,000	0
Income (loss) from operations	(5,472,000)	$ (2,553,000)	854,000	$ (18,490,000)
Adjustment
Segment Reporting Information
Income (loss) from operations	$ 300,000
E&P Technology & Services
Segment Reporting Information
Impairment of goodwill			0
E&P Operations Optimization
Segment Reporting Information
Impairment of goodwill			4,200,000
E&P Operations Optimization | Adjustment
Segment Reporting Information
Cost of products			$ 1,300,000
E&P Operations Optimization | Prior to Adjustment
Segment Reporting Information
Gross margin (percent)	48.00%		47.00%
Operating segments | E&P Technology & Services
Segment Reporting Information
Gross margin (percent)	15.00%	43.00%	42.00%	32.00%
Impairment of multi-client data library			$ 1,200,000
Commission accruals			1,000,000
Income (loss) from operations	$ 442,000	$ 5,237,000	$ 18,394,000	$ 3,622,000
Operating segments | E&P Operations Optimization
Segment Reporting Information
Gross margin (percent)	31.00%	55.00%	40.00%	51.00%
Income (loss) from operations	$ (474,000)	$ 2,644,000	$ (3,733,000)	$ 2,814,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of segment information
Net revenues	$ 22,731	$ 41,775	$ 79,145	$ 78,731
Gross profit (loss)	$ 4,584	$ 19,583	$ 32,928	$ 29,495
Gross margin (percent)	20.00%	47.00%	42.00%	37.00%
Income (loss) from operations	$ (5,472)	$ (2,553)	$ 854	$ (18,490)
Interest expense, net	(3,414)	(3,111)	(6,635)	(6,223)
Other income (expense), net	6,771	96	7,200	(696)
Income (loss) before income taxes	(2,115)	(5,568)	1,419	(25,409)
Operating segments | E&P Technology & Services
Summary of segment information
Net revenues	15,226	28,523	61,740	55,626
Gross profit (loss)	$ 2,264	$ 12,357	$ 25,994	$ 17,797
Gross margin (percent)	15.00%	43.00%	42.00%	32.00%
Income (loss) from operations	$ 442	$ 5,237	$ 18,394	$ 3,622
Operating segments | E&P Technology & Services | Total multi-client revenues
Summary of segment information
Net revenues	11,553	22,812	53,125	46,231
Operating segments | E&P Technology & Services | New Venture
Summary of segment information
Net revenues	4,686	5,018	6,127	18,489
Operating segments | E&P Technology & Services | Data Library
Summary of segment information
Net revenues	6,867	17,794	46,998	27,742
Operating segments | E&P Technology & Services | Imaging and Reservoir Services
Summary of segment information
Net revenues	3,673	5,711	8,615	9,395
Operating segments | E&P Operations Optimization
Summary of segment information
Net revenues	7,505	13,252	17,405	23,105
Gross profit (loss)	$ 2,320	$ 7,226	$ 6,934	$ 11,698
Gross margin (percent)	31.00%	55.00%	40.00%	51.00%
Income (loss) from operations	$ (474)	$ 2,644	$ (3,733)	$ 2,814
Operating segments | E&P Operations Optimization | Optimization Software & Services
Summary of segment information
Net revenues	3,377	5,720	7,804	10,753
Operating segments | E&P Operations Optimization | Devices
Summary of segment information
Net revenues	4,128	7,532	9,601	12,352
Support and other
Summary of segment information
Income (loss) from operations	$ (5,440)	$ (10,434)	$ (13,807)	$ (24,926)

Revenue From Contracts With C_3

Revenue From Contracts With Customers - Narrative (Details)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Time period of contractual future performance obligations for which value not disclosed (or less)	1 year
One customer | Accounts receivable and unbilled receivables | Customer concentration risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk percentage	33.00%
Two customers | Accounts receivable and unbilled receivables | Customer concentration risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk percentage		26.00%

Revenue From Contracts With C_4

Revenue From Contracts With Customers - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Net revenues	$ 22,731	$ 41,775	$ 79,145	$ 78,731
North America
Disaggregation of Revenue
Net revenues	5,631	13,645	37,441	20,802
Latin America
Disaggregation of Revenue
Net revenues	4,966	14,321	14,770	27,852
Asia Pacific
Disaggregation of Revenue
Net revenues	2,631	3,676	11,919	5,543
Europe
Disaggregation of Revenue
Net revenues	6,176	6,123	9,986	16,515
Middle East
Disaggregation of Revenue
Net revenues	942	1,106	1,896	2,465
Africa
Disaggregation of Revenue
Net revenues	1,004	2,278	1,595	4,667
Other
Disaggregation of Revenue
Net revenues	$ 1,381	$ 626	$ 1,538	$ 887

Revenue From Contracts With C_5

Revenue From Contracts With Customers - Unbilled Receivables (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Unbilled Revenues
Unbilled receivables at December 31, 2019	$ 11,815
Recognition of unbilled receivables	76,561
Revenues billed to customers	(75,439)
Unbilled receivables at June 30, 2020	12,937
New Venture
Unbilled Revenues
Unbilled receivables at December 31, 2019	5,222
Unbilled receivables at June 30, 2020	5,515
Imaging and Reservoir Services
Unbilled Revenues
Unbilled receivables at December 31, 2019	6,539
Unbilled receivables at June 30, 2020	5,647
Devices
Unbilled Revenues
Unbilled receivables at December 31, 2019	54
Unbilled receivables at June 30, 2020	$ 1,775

Revenue From Contracts With C_6

Revenue From Contracts With Customers - Deferred Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Revenue, Remaining Performance Obligation
Deferred revenue at December 31, 2019	$ 4,551
Cash collected in excess of revenue recognized	2,094
Recognition of deferred revenue	(2,587)
Deferred revenue at June 30, 2020	4,058
New Venture
Revenue, Remaining Performance Obligation
Deferred revenue at December 31, 2019	1,956
Deferred revenue at June 30, 2020	2,385
Imaging and Reservoir Services
Revenue, Remaining Performance Obligation
Deferred revenue at December 31, 2019	1,501
Deferred revenue at June 30, 2020	872
Optimization Software & Services
Revenue, Remaining Performance Obligation
Deferred revenue at December 31, 2019	642
Deferred revenue at June 30, 2020	696
Devices
Revenue, Remaining Performance Obligation
Deferred revenue at December 31, 2019	452
Deferred revenue at June 30, 2020	$ 105

Long-term Debt - Summary of obl

Long-term Debt - Summary of obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Obligations
Equipment finance leases (Note 12)	$ 1,315	$ 1,869
Costs associated with issuances of debt	(1,465)	(1,951)
Total	142,919	121,459
Current maturities of long-term debt	(23,685)	(2,107)
Long-term debt, net of current maturities	$ 119,234	$ 119,352
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsIncludingCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsIncludingCurrent
Senior secured notes | Senior secured second-priority lien notes (maturing December 15, 2021)
Obligations
Gross debt	$ 120,569	$ 120,569
Revolving credit facility (maturing August 16, 2023)
Obligations
Gross debt	22,500	0
Other debt
Obligations
Gross debt	$ 0	$ 972

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($)	Aug. 16, 2018	Jun. 30, 2020	Aug. 15, 2018
Line of credit | Revolving credit facility (maturing August 16, 2023) | Data Library | E&P Technology & Services
Debt Instrument
Maximum amount of certain indebtedness	$ 28,500,000		$ 15,000,000
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC)
Debt Instrument
Debt term	4 years
Amount of increase in maximum revolver	$ 10,000,000
Maximum amount of certain indebtedness	50,000,000		$ 40,000,000
Outstanding amount of certain indebtedness		$ 22,500,000
Current borrowing capacity		$ 8,800,000
Required liquidity maintained five consecutive business days	6,250,000
Required liquidity maintained any business day	$ 5,000,000
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | Subsidiary issuer
Debt Instrument
Percentage of obligations secured by stock of Subsidiary Borrowers (percent)		100.00%
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | Minimum
Debt Instrument
Fixed charge coverage ratio	1.1
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | Base rate | Maximum
Debt Instrument
Basis spread on variable rate for debt (percent)	3.00%
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | Base rate | Minimum
Debt Instrument
Basis spread on variable rate for debt (percent)	2.00%
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | LIBOR | Maximum
Debt Instrument
Basis spread on variable rate for debt (percent)	4.00%
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | LIBOR | Minimum
Debt Instrument
Basis spread on variable rate for debt (percent)	3.00%
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | Mexican subsidiary
Debt Instrument
Maximum amount of certain indebtedness	$ 5,000,000
Line of credit | Revolving credit facility (maturing August 16, 2023) | PNC Bank, national association (PNC) | ION international holdings L.P.
Debt Instrument
Percentage of obligations secured by stock of Subsidiary Borrowers (percent)		65.00%
Senior secured notes | Senior secured second-priority lien notes (maturing December 15, 2021)
Debt Instrument
Stated rate on debt (percent)		9.125%

Long-term Debt - Debt Instrumen

Long-term Debt - Debt Instrument Redemption Percentages (Details) - Senior secured notes - Senior secured second-priority lien notes (maturing December 15, 2021)	Dec. 15, 2019
2019
Debt Instrument
Redemption price percentages	105.50%
2020
Debt Instrument
Redemption price percentages	103.50%
2021
Debt Instrument
Redemption price percentages	100.00%

Government Relief Funding (Deta

Government Relief Funding (Details) - Notes Payable - Payroll Protection Program Term Note $ in Millions	Apr. 11, 2020USD ($)
Short-term Debt
Debt instrument, face amount	$ 6.9
Stated rate on debt (percent)	1.00%

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Earnings Per Share [Abstract]
Number of shares issued or committed for issuance under outstanding stock options (in shares)	647,483		766,659
Restricted stock and shares reserved for restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares of restricted stock and shares reserved for restricted stock units outstanding (in shares)	873,371	908,754	794,994

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,052	$ 2,719	$ 8,926	$ 4,126
Valuation allowance	2,200		2,200
Alternative minimum tax credit refund	800		800
Unrecognized tax benefits	$ 400		$ 400

Litigation (Details)

Litigation (Details) $ in Millions	Apr. 07, 2020	Aug. 31, 2012patent	Jun. 30, 2009patent	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 09, 2019USD ($)	Jul. 31, 2018USD ($)	May 31, 2014USD ($)
Loss Contingencies
Settlement period of future revenues (in years)	10 years
WesternGeco
Loss Contingencies
Number of patent apparatus claims contained | patent		4	4
Number of patents infringed | patent		6
WesternGeco | Judicial ruling
Loss Contingencies
Amount of royalty damages paid				$ 25.8
WesternGeco | Judicial ruling | Lost profits
Loss Contingencies
Loss contingency accrual					$ 98			$ 123.8
DGH appeal | Pending Litigation
Loss Contingencies
Amount of sales proceeds in escrow						$ 4.5	$ 4.5

Details of Selected Balance S_3

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials and subassemblies	$ 18,128	$ 18,509
Work-in-process	2,068	2,079
Finished goods	4,568	4,932
Less: reserve for excess and obsolete inventories	(12,902)	(13,333)
Inventories, net	$ 11,862	$ 12,187

Details of Selected Balance S_4

Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment
Total	$ 184,432,000		$ 184,692,000
Less: accumulated depreciation	(135,959,000)		(134,951,000)
Less: impairment of long-lived assets	(36,553,000)		(36,553,000)
Property, plant and equipment, net	11,920,000		13,188,000
Depreciation expense including amortization under finance leases	1,800,000	$ 1,600,000
Impairment charge	0	$ 0
Buildings
Property, Plant and Equipment
Property plant and equipment gross	15,694,000		15,486,000
Machinery and equipment
Property, Plant and Equipment
Property plant and equipment gross	133,923,000		133,048,000
Seismic rental equipment
Property, Plant and Equipment
Seismic rental equipment	1,671,000		1,669,000
Furniture and fixtures
Property, Plant and Equipment
Property plant and equipment gross	3,155,000		3,347,000
Other (a)
Property, Plant and Equipment
Property plant and equipment gross	$ 29,989,000		$ 31,142,000

Details of Selected Balance S_5

Details of Selected Balance Sheet Accounts - Multi-Client Data Library (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gross costs of multi-client data creation	$ 1,013,181,000		$ 1,013,181,000		$ 1,007,762,000
Less: accumulated amortization	(829,102,000)		(829,102,000)		(816,401,000)
Less: impairments to multi-client data library	(132,144,000)		(132,144,000)		(130,977,000)
Multi-client data library, net	51,935,000		51,935,000		$ 60,384,000
Amortization of multi-client data library			12,701,000	$ 19,396,000
Impairment of multi-client data library	$ 0	$ 0	$ 1,167,000	$ 0

Details of Selected Balance S_6

Details of Selected Balance Sheet Accounts Details of Selected Balance Sheet Accounts - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill
Goodwill			$ 23,585	$ 22,915	$ 22,915
Impairment of goodwill	$ 0	$ 0	(4,150)	0
Impact of foreign currency translation adjustments			(1,406)		670
Goodwill	$ 18,029		$ 18,029		23,585
Goodwill discount rate	19.00%		19.00%
E&P Technology & Services
Goodwill
Goodwill			$ 2,943	2,943	2,943
Impairment of goodwill			0
Impact of foreign currency translation adjustments			0		0
Goodwill	$ 2,943		2,943		2,943
Optimization Software & Services
Goodwill
Goodwill			20,642	$ 19,972	19,972
Impairment of goodwill			(4,150)
Impact of foreign currency translation adjustments			(1,406)		670
Goodwill	$ 15,086		$ 15,086		$ 20,642

Stockholder's Equity and Stoc_3

Stockholder's Equity and Stock-Based Compensation Expense - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares issued or committed for issuance under outstanding stock options (in shares)	647,483	766,659
Stock-based compensation expense	$ 1,094	$ 2,831
Restricted Stock and Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares of restricted stock and shares reserved for restricted stock units outstanding (in shares)	873,371	794,994	908,754
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares issued or committed for issuance under outstanding stock options (in shares)	906,850	1,063,013	954,679
Stock-based compensation expense	$ (1,000)	$ 2,000

Stockholder's Equity and Stoc_4

Stockholder's Equity and Stock-Based Compensation Expense - Activity Related to Stock Options, Restricted Stock Restricted Stock Unit Awards and Stock Appreciation Rights (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2020
Stock Options and Stock Appreciation Rights
Ending balance (In shares)	766,659	647,483
Stock Options
Stock Options and Stock Appreciation Rights
Beginning balance (in shares)		689,209
Granted (in shares)		0
Exercised (in shares)		(5,000)
Cancelled/forfeited (in shares)		(36,726)
Ending balance (In shares)		647,483
Restricted Stock and Unit Awards
Restricted Stock and Unit Awards
Beginning balance (in shares)		908,754
Granted (in shares)		67,500
Vested (in shares)		(17,089)
Cancelled/forfeited (in shares)		(85,794)
Ending balance (in shares)	794,994	873,371
Stock Appreciation Rights
Stock Options and Stock Appreciation Rights
Beginning balance (in shares)		954,679
Granted (in shares)		0
Exercised (in shares)		0
Cancelled/forfeited (in shares)		(47,829)
Ending balance (In shares)	1,063,013	906,850

Stockholder's Equity and Stoc_5

Stockholder's Equity and Stock-Based Compensation Expense - Fair Value Assumptions (Details) - Stock Appreciation Rights	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Risk-free interest rates (percent)	1.90%
Expected lives (in years)	5 years 3 months 21 days
Expected dividend yield (percent)	0.00%
Expected volatility (percent)	79.00%

Lease Obligations - Narrative (

Lease Obligations - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Lessee, Lease, Description
Option to extend (years)	10 years
Option to terminate	1 year
Operating lease expense	$ 5.3	$ 5.7
Weighted average remaining lease term	5 years 3 months 29 days		4 years 8 months 15 days
Weighted average discount rate (percent)	6.42%		6.47%
Minimum
Lessee, Lease, Description
Remaining term (years)	1 year
Maximum
Lessee, Lease, Description
Remaining term (years)	10 years
Interest rate (percent)	8.70%

Lease Obligations - Maturities

Lease Obligations - Maturities of Lease Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Leases (a)
2021	$ 8,047
2022	9,011
2023	9,826
2024	7,096
2025	9,190
Thereafter	20,036
Total lease payments	63,206
Less: imputed interest	(14,441)
Total	48,765
Finance Leases
2021	1,254
2022	130
2023	0
2024	0
2025	0
Thereafter	0
Total lease payments	1,384
Less: imputed interest	(69)
Total	1,315	$ 1,869
Total
2021	9,301
2022	9,141
2023	9,826
2024	7,096
2025	9,190
Thereafter	20,036
Total lease payments	64,590
Less: imputed interest	(14,510)
Total	$ 50,080

Lease Obligations - Components

Lease Obligations - Components of Lease Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$ 5,169	$ 6,261
Equipment finance leases	$ 555	$ 537

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information and Non-cash Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash paid during the period for:
Interest	$ 6,048	$ 5,895
Income taxes	5,448	6,676
Cash and Cash Equivalents
Cash and cash equivalents	62,540	29,563	$ 33,065
Restricted cash included in prepaid expenses and other assets	75	303
Total cash, cash equivalents, and restricted cash shown in statements of cash flows	$ 62,615	$ 29,866	$ 33,118	$ 33,854

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Carrying amounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of long-term debt	$ 144.4	$ 123.4
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value of long-term debt	$ 120.9	$ 116.6

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 62,540		$ 33,065	$ 29,563
Accounts receivable, net	10,577		29,548
Unbilled receivables	12,937		11,815
Inventories, net	11,862		12,187
Prepaid expenses and other current assets	4,462		6,012
Total current assets	102,378		92,627
Deferred income tax asset, net	7,987		8,734
Property, plant and equipment, net	11,920		13,188
Multi-client data library, net	51,935		60,384
Investment in subsidiaries	0		0
Goodwill	18,029		23,585			$ 22,915
Intercompany receivables	0		0
Right-of-use assets	40,467		32,546
Other assets	3,513		2,130
Total assets	236,229		233,194
Current liabilities:
Current maturities of long-term debt	23,685		2,107
Accounts payable	37,254		49,316
Accrued expenses	25,606		30,328
Accrued multi-client data library royalties	21,316		18,831
Deferred revenue	4,058		4,551
Current maturities of operating lease liabilities	8,355		11,055
Total current liabilities	120,274		116,188
Long-term debt, net of current maturities	119,234		119,352
Operating lease liabilities, net of current maturities	40,409		30,833
Intercompany payables	0		0
Other long-term liabilities	422		1,453
Total liabilities	280,339		267,826
(Deficit) Equity:
Common stock	142		142
Additional paid-in capital	957,746		956,647
Accumulated earnings (deficit)	(981,773)		(974,291)
Accumulated other comprehensive income (loss)	(21,833)		(19,318)
Due from ION Geophysical Corporation	0		0
Total stockholders’ deficit	(45,718)		(36,820)
Noncontrolling interest	1,608		2,188
Total deficit	(44,110)	$ (38,603)	(34,632)	(19,381)	$ (11,439)	$ 7,824
Total liabilities and deficit	236,229		233,194
ION Geophysical Corporation
Current assets:
Cash and cash equivalents	47,328			9,153
The Guarantors
Current assets:
Cash and cash equivalents	20			62
All Other Subsidiaries
Current assets:
Cash and cash equivalents	15,192			$ 20,348
Reportable legal entities | ION Geophysical Corporation
Current assets:
Cash and cash equivalents	47,328		8,426
Accounts receivable, net	8		8
Unbilled receivables	0		0
Inventories, net	0		0
Prepaid expenses and other current assets	1,975		3,292
Total current assets	49,311		11,726
Deferred income tax asset, net	0		402
Property, plant and equipment, net	1,524		786
Multi-client data library, net	0		0
Investment in subsidiaries	853,858		841,522
Goodwill	0		0
Intercompany receivables	0		0
Right-of-use assets	21,870		11,934
Other assets	2,637		1,171
Total assets	929,200		867,541
Current liabilities:
Current maturities of long-term debt	22,500		972
Accounts payable	1,854		2,259
Accrued expenses	11,318		9,933
Accrued multi-client data library royalties	0		0
Deferred revenue	0		0
Current maturities of operating lease liabilities	3,526		4,429
Total current liabilities	39,198		17,593
Long-term debt, net of current maturities	119,105		118,618
Operating lease liabilities, net of current maturities	21,037		11,208
Intercompany payables	795,192		755,524
Other long-term liabilities	386		1,418
Total liabilities	974,918		904,361
(Deficit) Equity:
Common stock	142		142
Additional paid-in capital	957,746		956,647
Accumulated earnings (deficit)	(981,773)		(974,291)
Accumulated other comprehensive income (loss)	(21,833)		(19,318)
Due from ION Geophysical Corporation	0		0
Total stockholders’ deficit	(45,718)		(36,820)
Noncontrolling interest	0		0
Total deficit	(45,718)		(36,820)
Total liabilities and deficit	929,200		867,541
Reportable legal entities | The Guarantors
Current assets:
Cash and cash equivalents	20		26
Accounts receivable, net	5,912		19,493
Unbilled receivables	7,514		7,314
Inventories, net	6,836		6,902
Prepaid expenses and other current assets	1,366		1,513
Total current assets	21,648		35,248
Deferred income tax asset, net	7,882		8,417
Property, plant and equipment, net	7,095		8,112
Multi-client data library, net	44,347		54,479
Investment in subsidiaries	278,300		279,327
Goodwill	0		0
Intercompany receivables	284,828		287,692
Right-of-use assets	14,022		15,802
Other assets	825		905
Total assets	658,947		689,982
Current liabilities:
Current maturities of long-term debt	1,185		1,135
Accounts payable	33,806		44,641
Accrued expenses	6,274		9,982
Accrued multi-client data library royalties	21,101		18,616
Deferred revenue	2,922		3,465
Current maturities of operating lease liabilities	3,668		5,469
Total current liabilities	68,956		83,308
Long-term debt, net of current maturities	129		734
Operating lease liabilities, net of current maturities	15,319		15,346
Intercompany payables	0		0
Other long-term liabilities	36		35
Total liabilities	84,440		99,423
(Deficit) Equity:
Common stock	290,460		290,460
Additional paid-in capital	180,700		180,700
Accumulated earnings (deficit)	404,753		396,793
Accumulated other comprehensive income (loss)	4,238		4,281
Due from ION Geophysical Corporation	(305,644)		(281,675)
Total stockholders’ deficit	574,507		590,559
Noncontrolling interest	0		0
Total deficit	574,507		590,559
Total liabilities and deficit	658,947		689,982
Reportable legal entities | All Other Subsidiaries
Current assets:
Cash and cash equivalents	15,192		24,613
Accounts receivable, net	4,657		10,047
Unbilled receivables	5,423		4,501
Inventories, net	5,026		5,285
Prepaid expenses and other current assets	1,121		1,207
Total current assets	31,419		45,653
Deferred income tax asset, net	105		(85)
Property, plant and equipment, net	3,301		4,290
Multi-client data library, net	7,588		5,905
Investment in subsidiaries	0		0
Goodwill	18,029		23,585
Intercompany receivables	118,065		99,884
Right-of-use assets	4,575		4,810
Other assets	51		54
Total assets	183,133		184,096
Current liabilities:
Current maturities of long-term debt	0		0
Accounts payable	1,594		2,416
Accrued expenses	8,014		10,413
Accrued multi-client data library royalties	215		215
Deferred revenue	1,136		1,086
Current maturities of operating lease liabilities	1,161		1,157
Total current liabilities	12,120		15,287
Long-term debt, net of current maturities	0		0
Operating lease liabilities, net of current maturities	4,053		4,279
Intercompany payables	0		0
Other long-term liabilities	0		0
Total liabilities	16,173		19,566
(Deficit) Equity:
Common stock	47,776		47,776
Additional paid-in capital	203,909		203,909
Accumulated earnings (deficit)	24,715		18,837
Accumulated other comprehensive income (loss)	(24,393)		(21,907)
Due from ION Geophysical Corporation	(86,655)		(86,273)
Total stockholders’ deficit	165,352		162,342
Noncontrolling interest	1,608		2,188
Total deficit	166,960		164,530
Total liabilities and deficit	183,133		184,096
Consolidating Adjustments
Current assets:
Cash and cash equivalents	0		0
Accounts receivable, net	0		0
Unbilled receivables	0		0
Inventories, net	0		0
Prepaid expenses and other current assets	0		0
Total current assets	0		0
Deferred income tax asset, net	0		0
Property, plant and equipment, net	0		0
Multi-client data library, net	0		0
Investment in subsidiaries	(1,132,158)		(1,120,849)
Goodwill	0		0
Intercompany receivables	(402,893)		(387,576)
Right-of-use assets	0		0
Other assets	0		0
Total assets	(1,535,051)		(1,508,425)
Current liabilities:
Current maturities of long-term debt	0		0
Accounts payable	0		0
Accrued expenses	0		0
Accrued multi-client data library royalties	0		0
Deferred revenue	0		0
Current maturities of operating lease liabilities	0		0
Total current liabilities	0		0
Long-term debt, net of current maturities	0		0
Operating lease liabilities, net of current maturities	0		0
Intercompany payables	(795,192)		(755,524)
Other long-term liabilities	0		0
Total liabilities	(795,192)		(755,524)
(Deficit) Equity:
Common stock	(338,236)		(338,236)
Additional paid-in capital	(384,609)		(384,609)
Accumulated earnings (deficit)	(429,468)		(415,630)
Accumulated other comprehensive income (loss)	20,155		17,626
Due from ION Geophysical Corporation	392,299		367,948
Total stockholders’ deficit	(739,859)		(752,901)
Noncontrolling interest	0		0
Total deficit	(739,859)		(752,901)
Total liabilities and deficit	$ (1,535,051)		$ (1,508,425)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Income Statement (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Income Statements
Net revenues	$ 22,731,000	$ 41,775,000	$ 79,145,000	$ 78,731,000
Cost of services and products	18,147,000	22,192,000	45,050,000	49,236,000
Impairment of multi-client data library	0	0	1,167,000	0
Gross profit (loss)	4,584,000	19,583,000	32,928,000	29,495,000
Total operating expenses			27,924,000
Total operating expenses	10,056,000	22,136,000	32,074,000	47,985,000
Impairment of goodwill	0	0	4,150,000	0
Income (loss) from operations	(5,472,000)	(2,553,000)	854,000	(18,490,000)
Interest expense, net	(3,414,000)	(3,111,000)	(6,635,000)	(6,223,000)
Intercompany interest, net	0	0	0	0
Equity in earnings (losses) of investments	0	0	0	0
Other income (expense)	6,771,000	96,000	7,200,000	(696,000)
Net income (loss) before income taxes	(2,115,000)	(5,568,000)	1,419,000	(25,409,000)
Income tax expense (benefit)	3,052,000	2,719,000	8,926,000	4,126,000
Net income (loss)	(5,167,000)	(8,287,000)	(7,507,000)	(29,535,000)
Net income attributable to noncontrolling interest	(52,000)	(335,000)	25,000	(447,000)
Net income (loss) attributable to ION	(5,219,000)	(8,622,000)	(7,482,000)	(29,982,000)
Comprehensive net income (loss)	(5,901,000)	(9,227,000)	(10,022,000)	(29,505,000)
Comprehensive income attributable to noncontrolling interest	(52,000)	(335,000)	25,000	(447,000)
Comprehensive net income (loss) attributable to ION	(5,953,000)	(9,562,000)	(9,997,000)	(29,952,000)
Reportable legal entities | ION Geophysical Corporation
Condensed Income Statements
Net revenues	0	0	0	0
Cost of services and products	0	0	0	0
Impairment of multi-client data library			0
Gross profit (loss)	0	0	0	0
Total operating expenses			13,452,000
Total operating expenses	5,332,000	8,977,000		21,816,000
Impairment of goodwill			0
Income (loss) from operations	(5,332,000)	(8,977,000)	(13,452,000)	(21,816,000)
Interest expense, net	(3,310,000)	(3,197,000)	(6,555,000)	(6,363,000)
Intercompany interest, net	(268,000)	223,000	(458,000)	523,000
Equity in earnings (losses) of investments	(1,682,000)	3,511,000	7,946,000	(1,658,000)
Other income (expense)	6,758,000	(19,000)	8,143,000	(12,000)
Net income (loss) before income taxes	(3,834,000)	(8,459,000)	(4,376,000)	(29,326,000)
Income tax expense (benefit)	1,385,000	163,000	3,106,000	656,000
Net income (loss)	(5,219,000)	(8,622,000)	(7,482,000)	(29,982,000)
Net income attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to ION	(5,219,000)	(8,622,000)	(7,482,000)	(29,982,000)
Comprehensive net income (loss)	(5,953,000)	(9,562,000)	(9,997,000)	(29,952,000)
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(5,953,000)	(9,562,000)	(9,997,000)	(29,952,000)
Reportable legal entities | The Guarantors
Condensed Income Statements
Net revenues	11,748,000	26,465,000	52,170,000	44,078,000
Cost of services and products	13,231,000	15,741,000	35,031,000	35,941,000
Impairment of multi-client data library			1,167,000
Gross profit (loss)	(1,483,000)	10,724,000	15,972,000	8,137,000
Total operating expenses			9,704,000
Total operating expenses	2,724,000	9,153,000		18,228,000
Impairment of goodwill			0
Income (loss) from operations	(4,207,000)	1,571,000	6,268,000	(10,091,000)
Interest expense, net	(124,000)	(58,000)	(162,000)	(107,000)
Intercompany interest, net	(1,532,000)	(2,051,000)	(3,459,000)	2,598,000
Equity in earnings (losses) of investments	4,160,000	6,387,000	5,892,000	8,388,000
Other income (expense)	6,000	(88,000)	6,000	(210,000)
Net income (loss) before income taxes	(1,697,000)	5,761,000	8,545,000	578,000
Income tax expense (benefit)	(10,000)	1,162,000	585,000	(129,000)
Net income (loss)	(1,687,000)	4,599,000	7,960,000	707,000
Net income attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to ION	(1,687,000)	4,599,000	7,960,000	707,000
Comprehensive net income (loss)	(1,687,000)	4,599,000	7,917,000	664,000
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(1,687,000)	4,599,000	7,917,000	664,000
Reportable legal entities | All Other Subsidiaries
Condensed Income Statements
Net revenues	10,983,000	15,310,000	26,975,000	34,653,000
Cost of services and products	4,916,000	6,451,000	10,019,000	13,295,000
Impairment of multi-client data library			0
Gross profit (loss)	6,067,000	8,859,000	16,956,000	21,358,000
Total operating expenses			4,768,000
Total operating expenses	2,000,000	4,006,000		7,941,000
Impairment of goodwill			4,150,000
Income (loss) from operations	4,067,000	4,853,000	8,038,000	13,417,000
Interest expense, net	20,000	144,000	82,000	247,000
Intercompany interest, net	1,800,000	1,828,000	3,917,000	(3,121,000)
Equity in earnings (losses) of investments	0	0	0	0
Other income (expense)	7,000	203,000	(949,000)	(474,000)
Net income (loss) before income taxes	5,894,000	7,028,000	11,088,000	10,069,000
Income tax expense (benefit)	1,677,000	1,394,000	5,235,000	3,599,000
Net income (loss)	4,217,000	5,634,000	5,853,000	6,470,000
Net income attributable to noncontrolling interest	(52,000)	(335,000)	25,000	(447,000)
Net income (loss) attributable to ION	4,165,000	5,299,000	5,878,000	6,023,000
Comprehensive net income (loss)	3,435,000	4,341,000	3,367,000	6,040,000
Comprehensive income attributable to noncontrolling interest	(52,000)	(335,000)	25,000	(447,000)
Comprehensive net income (loss) attributable to ION	3,383,000	4,006,000	3,392,000	5,593,000
Consolidating Adjustments
Condensed Income Statements
Net revenues	0	0	0	0
Cost of services and products	0	0	0	0
Impairment of multi-client data library			0
Gross profit (loss)	0	0	0	0
Total operating expenses			0
Total operating expenses	0	0		0
Impairment of goodwill			0
Income (loss) from operations	0	0	0	0
Interest expense, net	0	0	0	0
Intercompany interest, net	0	0	0	0
Equity in earnings (losses) of investments	(2,478,000)	(9,898,000)	(13,838,000)	(6,730,000)
Other income (expense)	0	0	0	0
Net income (loss) before income taxes	(2,478,000)	(9,898,000)	(13,838,000)	(6,730,000)
Income tax expense (benefit)	0	0	0	0
Net income (loss)	(2,478,000)	(9,898,000)	(13,838,000)	(6,730,000)
Net income attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to ION	(2,478,000)	(9,898,000)	(13,838,000)	(6,730,000)
Comprehensive net income (loss)	(1,696,000)	(8,605,000)	(11,309,000)	(6,257,000)
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	$ (1,696,000)	$ (8,605,000)	$ (11,309,000)	$ (6,257,000)

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 16,351	$ 14,265
Cash flows from investing activities:
Cash invested in multi-client data library	(14,596)	(14,782)
Purchase of property, plant and equipment	(697)	(1,412)
Net cash used in investing activities	(15,293)	(16,194)
Cash flows from financing activities:
Borrowings under revolving line of credit	27,000	0
Payments under revolving line of credit	(4,500)	0
Proceeds from government relief funding	6,923	0
Payments on notes payable and long-term debt	(1,527)	(1,406)
Intercompany lending	0	0
Other financing activities	5	(551)
Net cash provided by (used in) financing activities	27,901	(1,957)
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash	538	(102)
Net increase (decrease) in cash, cash equivalents and restricted cash	29,497	(3,988)
Cash, cash equivalents and restricted cash at beginning of period	33,118	33,854
Cash, cash equivalents and restricted cash at end of period	62,615	29,866
ION Geophysical Corporation
Cash flows from operating activities:
Net cash provided by (used in) operating activities	16,792	10,447
Cash flows from investing activities:
Cash invested in multi-client data library	0	0
Purchase of property, plant and equipment	(35)	(146)
Net cash used in investing activities	(35)	(146)
Cash flows from financing activities:
Borrowings under revolving line of credit	27,000
Payments under revolving line of credit	(4,500)
Proceeds from government relief funding	6,923
Payments on notes payable and long-term debt	(972)	(868)
Intercompany lending	(6,289)	(13,511)
Other financing activities	5	(551)
Net cash provided by (used in) financing activities	22,167	(14,930)
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	38,924	(4,629)
Cash, cash equivalents and restricted cash at beginning of period	8,479	14,085
Cash, cash equivalents and restricted cash at end of period	47,403	9,456
The Guarantors
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(1,234)	4,668
Cash flows from investing activities:
Cash invested in multi-client data library	(5,323)	(10,215)
Purchase of property, plant and equipment	(247)	(395)
Net cash used in investing activities	(5,570)	(10,610)
Cash flows from financing activities:
Borrowings under revolving line of credit	0
Payments under revolving line of credit	0
Proceeds from government relief funding	0
Payments on notes payable and long-term debt	(555)	(538)
Intercompany lending	7,353	6,495
Other financing activities	0	0
Net cash provided by (used in) financing activities	6,798	5,957
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(6)	15
Cash, cash equivalents and restricted cash at beginning of period	26	47
Cash, cash equivalents and restricted cash at end of period	20	62
All Other Subsidiaries
Cash flows from operating activities:
Net cash provided by (used in) operating activities	793	(850)
Cash flows from investing activities:
Cash invested in multi-client data library	(9,273)	(4,567)
Purchase of property, plant and equipment	(415)	(871)
Net cash used in investing activities	(9,688)	(5,438)
Cash flows from financing activities:
Borrowings under revolving line of credit	0
Payments under revolving line of credit	0
Proceeds from government relief funding	0
Payments on notes payable and long-term debt	0	0
Intercompany lending	(1,064)	7,016
Other financing activities	0	0
Net cash provided by (used in) financing activities	(1,064)	7,016
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash	538	(102)
Net increase (decrease) in cash, cash equivalents and restricted cash	(9,421)	626
Cash, cash equivalents and restricted cash at beginning of period	24,613	19,722
Cash, cash equivalents and restricted cash at end of period	$ 15,192	$ 20,348

Condensed Consolidating Finan_6

Condensed Consolidating Financial Information - Cash Flow, Restricted Cash Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 62,540	$ 33,065	$ 29,563
Restricted cash included in prepaid expenses and other assets	75		303
Total cash, cash equivalents, and restricted cash shown in statements of cash flows	62,615	33,118	29,866	$ 33,854
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents [Abstract]
Restricted cash included in prepaid expenses and other assets	75		303
ION Geophysical Corporation
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	47,328		9,153
Total cash, cash equivalents, and restricted cash shown in statements of cash flows	47,403	8,479	9,456	14,085
ION Geophysical Corporation | Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents [Abstract]
Restricted cash included in prepaid expenses and other assets	75		303
The Guarantors
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	20		62
Total cash, cash equivalents, and restricted cash shown in statements of cash flows	20	26	62	47
The Guarantors | Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents [Abstract]
Restricted cash included in prepaid expenses and other assets	0		0
All Other Subsidiaries
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	15,192		20,348
Total cash, cash equivalents, and restricted cash shown in statements of cash flows	15,192	$ 24,613	20,348	$ 19,722
All Other Subsidiaries | Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents [Abstract]
Restricted cash included in prepaid expenses and other assets	$ 0		$ 0