Ion Geophysical (IOGPQ) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 23, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ION GEOPHYSICAL CORP
Entity Central Index Key	866,609
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		164,790,322

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 88,239	$ 173,608	$ 129,847	$ 148,056
Accounts receivable, net	21,587	114,325
Unbilled receivables	32,387	22,599
Inventories	34,683	51,162
Prepaid expenses and other current assets	10,124	13,662
Total current assets	187,020	375,356
Deferred income tax asset	5,706	8,604
Property, plant, equipment and seismic rental equipment, net	77,081	69,840
Multi-client data library, net	135,907	118,669
Goodwill	26,809	27,388
Intangible assets, net	5,306	6,788
Other assets	9,380	10,612
Total assets	447,209	617,257
Current liabilities:
Current maturities of long-term debt	6,612	7,649
Accounts payable	27,950	36,863
Accrued expenses	54,302	65,264
Accrued multi-client data library royalties	12,443	35,219
Deferred revenue	5,575	8,262
Total current liabilities	106,882	153,257
Long-term debt, net of current maturities	179,666	182,945
Other long-term liabilities	39,830	143,804
Total liabilities	326,378	480,006
Redeemable noncontrolling interest	1,200	1,539
Equity:
Common stock, $0.01 par value; authorized 200,000,000 shares; outstanding 164,790,322 and 164,484,095 shares at September 30, 2015 and December 31, 2014, respectively, net of treasury stock	1,648	1,645
Additional paid-in capital	892,007	887,749
Accumulated deficit	(753,987)	(734,409)
Accumulated other comprehensive loss	(13,564)	(12,807)
Treasury stock, at cost, 849,539 shares	(6,565)	(6,565)
Total stockholders' equity	119,539	135,613
Noncontrolling interest	92	99
Total equity	119,631	135,712
Total liabilities and equity	$ 447,209	$ 617,257

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares outstanding	164,790,322	164,484,095
Treasury stock, shares	849,539	849,539

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Service revenues	$ 53,515	$ 71,923	$ 96,918	$ 272,386
Product revenues	13,159	34,617	47,129	100,332
Total net revenues	66,674	106,540	144,047	372,718
Cost of services	47,883	60,285	132,234	200,697
Cost of products	7,683	17,032	26,628	47,716
Gross profit (loss)	11,108	29,223	(14,815)	124,305
Operating expenses:
Research, development and engineering	6,537	10,910	21,496	30,254
Marketing and sales	6,904	8,480	23,375	27,610
General, administrative and other operating expenses	10,541	15,182	40,566	48,334
Total operating expenses	23,982	34,572	85,437	106,198
Income (loss) from operations	(12,874)	(5,349)	(100,252)	18,107
Interest expense, net	(4,854)	(5,048)	(14,086)	(14,779)
Equity in losses of investments	0	(5,558)	0	(9,027)
Other income (expense), net	(346)	(622)	98,035	73,970
Income (loss) before income taxes	(18,074)	(16,577)	(16,303)	68,271
Income tax expense	2,082	8,345	3,597	14,261
Net income (loss)	(20,156)	(24,922)	(19,900)	54,010
Net (income) loss attributable to noncontrolling interests	(227)	381	322	(1,384)
Net income (loss) attributable to ION	$ (20,383)	$ (24,541)	$ (19,578)	$ 52,626
Net income (loss) per share:
Basic, in dollars per share	$ (0.12)	$ (0.15)	$ (0.12)	$ 0.32
Diluted, in dollars per share	$ (0.12)	$ (0.15)	$ (0.12)	$ 0.32
Weighted average number of common shares outstanding:
Basic, in shares	164,755	164,149	164,672	164,021
Diluted, in shares	164,755	164,149	164,672	164,326

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (20,156)	$ (24,922)	$ (19,900)	$ 54,010
Other comprehensive loss, net of taxes, as appropriate:
Foreign currency translation adjustments	(1,365)	(2,632)	(757)	489
Equity interest in investees' other comprehensive income (loss)	0	738	0	(1,125)
Other changes in other comprehensive income	0	28	0	54
Total other comprehensive loss, net of taxes	(1,365)	(1,866)	(757)	(582)
Comprehensive net income (loss)	(21,521)	(26,788)	(20,657)	53,428
Comprehensive (income) loss attributable to noncontrolling interest	(227)	381	322	(1,384)
Comprehensive net income (loss) attributable to ION	$ (21,748)	$ (26,407)	$ (20,335)	$ 52,044

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (19,900)	$ 54,010
Adjustments to reconcile net income (loss) to cash (used in) provided by operating activities:
Depreciation and amortization (other than multi-client data library)	19,660	20,989
Amortization of multi-client data library	24,531	46,014
Stock-based compensation expense	4,174	7,058
Reductions of accrual for loss contingency related to legal proceedings	(101,978)	(69,557)
Equity in losses of investments	0	9,027
Gain on sale of Source product line	0	(6,522)
Deferred income taxes	5,992	(1,536)
Change in operating assets and liabilities:
Accounts receivable	92,424	71,540
Unbilled receivables	(9,837)	(8,036)
Inventories	464	(4,272)
Accounts payable, accrued expenses and accrued royalties	(43,676)	(31,324)
Deferred revenue	(2,576)	(4,153)
Other assets and liabilities	(5,274)	3,738
Net cash (used in) provided by operating activities	(35,996)	86,976
Cash flows from investing activities:
Cash invested in multi-client data library	(28,152)	(57,340)
Purchase of property, plant, equipment and seismic rental assets	(17,601)	(6,842)
Repayment of advance to INOVA Geophysical	0	1,000
Net investment in and advances to OceanGeo B.V. prior to its consolidation	0	(3,074)
Net proceeds from sale of Source product line	0	14,394
Other investing activities	1,262	928
Net cash used in investing activities	(44,491)	(50,934)
Cash flows from financing activities:
Borrowings under revolving line of credit	0	15,000
Payments under revolving line of credit	0	(50,000)
Payments on notes payable and long-term debt	(5,431)	(11,737)
Costs associated with issuance of debt	(146)	(2,126)
Acquisition of non-controlling interest	0	(6,000)
Other financing activities	94	423
Net cash used in financing activities	(5,483)	(54,440)
Effect of change in foreign currency exchange rates on cash and cash equivalents	601	189
Net decrease in cash and cash equivalents	(85,369)	(18,209)
Cash and cash equivalents at beginning of period	173,608	148,056
Cash and cash equivalents at end of period	$ 88,239	$ 129,847

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [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, 2014 has been derived from the Company’s audited consolidated financial statements at that date. The condensed consolidated balance sheet at September 30, 2015, and the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 and the condensed consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014, are unaudited. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the operating results for a full year or of future operations. These condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States 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 accounting principles generally accepted in the United States 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, 2014 and Amendment No. 1 thereto on Form 10-K/A, which was filed on April 24, 2015 and contains the separate consolidated financial statements of INOVA Geophysical Equipment Limited (“INOVA Geophysical”) for its fiscal year ended December 31, 2014 .

Restructurings

Restructurings	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructurings	Restructurings The recent decline in crude oil prices to five -year lows and the depressed level of natural gas prices have negatively impacted the economic outlook of the Company’s exploration and production (“E&P”) company customers, which has also negatively impacted the outlook for the Company’s seismic contractor customers. In response to the decline in crude oil prices, E&P companies have reduced their capital expenditures and shifted their spending from exploration to production-related activities on existing assets. Seismic spending is discretionary; therefore, E&P companies have disproportionately cut their spending on seismic-related services and products. During the first three quarters of 2015, the Company continued its restructuring program by (i) focusing on centralizing the Company’s global data processing capabilities to two core geographical hubs in the U.S. and the U.K., (ii) reducing the Company’s marine repair infrastructure to two locations in the U.S. and U.A.E., and (iii) making further reductions in personnel across all of the Company’s segments in the third quarter 2015 that, combined with reductions starting in December 2014 and continuing through the first nine months of 2015, have reduced the Company’s full-time employee base by approximately 50% . During the nine months ended September 30, 2015 , the Company recognized the following charges and credits (in thousands): Severance Charges (a) Facility Charges (b) Total Cost of goods sold $ 3,981 $ — $ 3,981 Operating expenses 1,910 1,323 3,233 Other (income) expense — 1,618 1,618 Income tax benefit (119 ) (150 ) (269 ) Net income attributable to noncontrolling interest (172 ) — (172 ) Consolidated total $ 5,600 $ 2,791 $ 8,391 (a) Represents severance charges related to 2015 restructurings, a portion of which relates to a noncontrolling interest. (b) Represents facility charges related to 2015 restructurings.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates through four business segments – Solutions, Systems, Software and Ocean Bottom Services. The Company measures segment operating results based on income (loss) from operations. In addition, the Company has an equity ownership interest in its INOVA Geophysical joint venture. As of December 31, 2014, the Company wrote down its investment in INOVA Geophysical to zero and has suspended recording its share of losses in the joint venture. If at a future date, the Company’s cumulative share of earnings during the period of suspension becomes greater than its share of losses during the same period, the Company will begin to record its share of earnings in the joint venture as long as its net equity method investment remains greater than zero. The following table is a summary of segment information (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net revenues: Solutions: New Venture $ 26,650 $ 18,446 $ 35,315 $ 76,499 Data Library 15,302 3,262 24,948 30,104 Total multi-client revenues 41,952 21,708 60,263 106,603 Data Processing 10,693 24,151 33,731 91,131 Total $ 52,645 $ 45,859 $ 93,994 $ 197,734 Systems: Towed Streamer $ 4,426 $ 13,666 $ 12,273 $ 35,782 Other 2,864 11,029 15,460 36,166 Total $ 7,290 $ 24,695 $ 27,733 $ 71,948 Software: Software Systems $ 5,869 $ 9,922 $ 19,396 $ 28,384 Services 870 1,088 2,924 3,198 Total $ 6,739 $ 11,010 $ 22,320 $ 31,582 Ocean Bottom Services $ — $ 24,976 $ — $ 71,454 Total $ 66,674 $ 106,540 $ 144,047 $ 372,718 Gross profit (loss): Solutions $ 11,294 $ 5,927 $ (6,954 ) $ 51,207 Systems 1,366 10,123 7,425 31,288 Software 4,399 8,326 14,197 23,388 Ocean Bottom Services (5,951 ) 4,847 (29,483 ) 18,422 Total $ 11,108 $ 29,223 $ (14,815 ) $ 124,305 Gross margin: Solutions 21 % 13 % (7 )% 26 % Systems 19 % 41 % 27 % 43 % Software 65 % 76 % 64 % 74 % Ocean Bottom Services — % 19 % — % 26 % Total 17 % 27 % (10 )% 33 % Income (loss) from operations: Solutions $ 768 $ (5,960 ) $ (40,766 ) $ 11,733 Systems (1,295 ) 2,917 (2,660 ) 9,835 Software 2,444 6,227 7,874 16,985 Ocean Bottom Services (7,289 ) 1,677 (34,856 ) 12,333 Corporate and other (7,502 ) (10,210 ) (29,844 ) (32,779 ) Income (loss) from operations (12,874 ) (5,349 ) (100,252 ) 18,107 Interest expense, net (4,854 ) (5,048 ) (14,086 ) (14,779 ) Equity in losses of investments — (5,558 ) — (9,027 ) Other income (expense), net (346 ) (622 ) 98,035 73,970 Income (loss) before income taxes $ (18,074 ) $ (16,577 ) $ (16,303 ) $ 68,271

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Obligations (in thousands) September 30, 2015 December 31, 2014 Senior secured second-priority notes $ 175,000 $ 175,000 Equipment capital leases 11,278 15,059 Revolving credit facility — — Other debt — 535 Total 186,278 190,594 Current portion of long-term debt and lease obligations (6,612 ) (7,649 ) Non-current portion of long-term debt and lease obligations $ 179,666 $ 182,945 Revolving Credit Facility In August 2014, ION and its material U.S. subsidiaries, ION Exploration Products (U.S.A.), Inc., I/O Marine Systems, Inc. and GX Technology Corporation (collectively, the “ Subsidiary Borrowers ”), entered into a credit facility (the “ Credit Facility ”). For a complete discussion of the terms, available credit and security of this Credit Facility , see Footnote 6 to the Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . On August 4, 2015 , the Company and the Subsidiary Borrowers amended the terms of the Credit Facility pursuant to a First Amendment to Revolving Credit and Security Agreement dated effective as of August 4, 2015 (the “ First Amendment ”). The First Amendment contemplated, among other things, (i) PNC Bank, National Association (“PNC”) becoming the sole lender under the Credit Facility, (ii) the reduction of the maximum amount of the revolving line of credit under the Credit Facility from $80.0 million to $40.0 million , (iii) the elimination of the requirement that the Company not exceed a maximum senior secured leverage ratio, (iv) the amendment of the borrowing base formula under the Credit Facility and (v) the removal of the accordion features under the Credit Facility . For additional information regarding the terms of the First Amendment , see the Company’s Current Report on Form 8-K filed with the SEC on August 6, 2015 . The borrowing base under the First Amendment will increase or decrease monthly using an amended formula based on certain eligible receivables, eligible inventory and other amounts, including a percentage of the net orderly liquidation value of the Company's multi-client data library (not to exceed $15.0 million for the multi-client data library data component). The amended formula also removes the qualified cash component of up to $20.0 million . At September 30, 2015, the borrowing base under the Credit Facility was $40.0 million , and there was no outstanding indebtedness under the Credit Facility. The Credit Facility as amended contains covenants that, among other things, restrict the Company, subject to certain exceptions, from incurring additional indebtedness (including capital lease obligations), repurchasing equity, paying dividends or distributions, granting or incurring additional liens on the Company’s properties, pledging shares of the Company’s subsidiaries, entering into certain merger or other change-in-control transactions, entering into transactions with the Company’s affiliates, making certain sales or other dispositions of the Company’s assets, making certain investments, acquiring other businesses and entering into sale-leaseback transactions with respect to the Company’s property. The Credit Facility, as amended requires that ION and the Subsidiary 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’s 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) the failure to maintain a measure of liquidity greater than (i) $5.0 million for five consecutive business days or (ii) $4.0 million on any given business day. Liquidity, as defined in the Credit Facility, is the Company’s excess availability to borrow ( $40.0 million at September 30, 2015) plus the aggregate amount of unrestricted cash held by ION, the Subsidiary Borrowers and their domestic subsidiaries. At September 30, 2015 , the Company was in compliance with all of the covenants under the Credit Facility. The Credit Facility as amended contains customary event of default provisions (including a “change of control” event affecting ION), the occurrence of which could lead to an acceleration of the Company’s obligations under the Credit Facility as amended. Senior Secured Second-Priority Notes In May 2013, the Company sold $175.0 million aggregate principal amount of 8.125% Senior Secured Second-Priority Notes due 2018 (“ Notes ”) in a private offering pursuant to an Indenture dated as of May 13, 2013. The Notes are senior secured second-priority obligations of the Company, are guaranteed by the Company’s material U.S. subsidiaries, GX Technology Corporation, ION Exploration Products (U.S.A.), Inc. and I/O Marine Systems, Inc. (“the Guarantors”), and mature on May 15, 2018. Interest on the Notes accrues at the rate of 8.125% per annum and will be payable semiannually in arrears on May 15 and November 15 of each year during their term. In May 2014, the holders of the Notes exchanged their Notes for a like principal amount of registered Notes with the same terms. For a complete discussion of the terms and security of these Notes , see Footnote 6 to the Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . The Notes contain certain covenants that, among other things, limit or prohibit the Company’s ability and the ability of its restricted subsidiaries to take certain actions or permit certain conditions to exist during the term of the Notes, including among other things, incurring additional indebtedness, creating liens, paying dividends and making other distributions in respect of the Company’s capital stock, redeeming the Company’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 Indenture are subject to certain exceptions and qualifications. All of the Company’s subsidiaries are currently restricted subsidiaries. As of September 30, 2015 , the Company was in compliance with the covenants on the Notes . On or after May 15, 2015, the Company may on one or more occasions redeem all or a part of the Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Notes redeemed during the twelve-month period beginning on May 15th of the years indicated below: Date Percentage 2015 104.063% 2016 102.031% 2017 and thereafter 100.000%

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share Basic net income (loss) per common share is computed by dividing net income (loss) applicable to common shares by the weighted average number of common shares outstanding during the period. Diluted net income (loss) 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 issued or reserved for future issuance under outstanding stock options at September 30, 2015 and 2014 was 8,643,375 and 9,111,725 , respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at September 30, 2015 and 2014 was 1,363,534 and 1,386,336 , respectively. All outstanding stock options for the three and nine months ended September 30, 2015 were anti-dilutive. The following table summarizes the computation of basic and diluted net income (loss) per common share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income (loss) attributable to ION $ (20,383 ) $ (24,541 ) $ (19,578 ) $ 52,626 Weighted average number of common shares outstanding 164,755 164,149 164,672 164,021 Effect of dilutive stock awards — — — 305 Weighted average number of diluted common shares outstanding 164,755 164,149 164,672 164,326 Basic net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.12 ) $ 0.32 Diluted net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.12 ) $ 0.32

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company maintains a valuation allowance for substantially all of its deferred tax assets. The valuation allowance is calculated in accordance with the provisions of the Financial Accounting Standards Board’s (“FASB”) Accounting Standard Codification (“ASC”) Topic 740 “Income Taxes,” which requires that a valuation allowance be established or maintained when it is “more likely than not” that all or a portion of deferred tax assets will not be realized. In the event the Company’s expectations of future operating results change, the valuation allowance may need to be adjusted downward. As of September 30, 2015 , the Company has no unreserved U.S. deferred tax assets. The provision for the three months and nine months ended September 30, 2015 has been calculated based on the actual tax expense incurred for those periods. Given the current uncertainty in expected income generated in various foreign jurisdictions, where tax rates can vary greatly, the Company’s actual tax rate is the best estimate of year-to-date tax expense. The Company’s effective tax rates for the three months ended September 30, 2015 and 2014 were (11.5)% and (50.3)% , respectively, and for the nine months ended September 30, 2015 and 2014 were (22.1)% and 20.9% , respectively. The Company’s effective tax rates for the three and nine months ended September 30, 2015 were impacted by the change in valuation allowance related to the reduction of the Company’s legal contingency reserve as well as operating losses for which the Company cannot currently recognize a tax benefit. The Company’s income tax expense for the nine months ended September 30, 2015 of $3.6 million primarily relates to income from the Company’s non-U.S. businesses. This foreign tax expense has not been offset by the tax benefits on losses within the U.S. and other jurisdictions, from which the Company cannot currently benefit; therefore negatively impacting the Company’s effective tax rate. The Company has approximately $1.2 million of unrecognized tax benefits and does not expect to recognize significant increases in unrecognized tax benefits during the next 12-month period. Interest and penalties, if any, related to unrecognized tax benefits are recorded in income tax expense. As of September 30, 2015 , the Company’s U.S. federal tax returns for 2012 and subsequent years remain subject to examination by tax authorities. The Company is no longer subject to U.S. Internal Revenue Service (“IRS”) examination for periods prior to 2012, although carryforward attributes that were generated prior to 2012 may still be adjusted upon examination by the IRS if they either have been or will be used in an open year. In the Company’s foreign tax jurisdictions, tax returns for 2009 and subsequent years generally remain open to examination.

Litigation

Litigation	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation WesternGeco 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, Houston Division. In the lawsuit, styled WesternGeco L.L.C. v. ION Geophysical Corporation , WesternGeco alleged that the Company had infringed several method and apparatus claims contained in four of its United States patents regarding marine seismic streamer steering devices. The trial began in July 2012. A verdict was returned by the jury in August 2012, finding that the Company infringed the claims contained in the four patents by supplying its DigiFIN ® lateral streamer control units and the related software from the United States and awarded WesternGeco the sum of $105.9 million in damages, consisting of $12.5 million in reasonable royalty and $93.4 million in lost profits. In June 2013, the presiding judge entered a Memorandum and Order, ruling that WesternGeco is entitled to be awarded supplemental damages for the additional DigiFIN units that were supplied from the United States before and after the trial that were not included in the jury verdict due to the timing of the trial. In October 2013, the judge entered another Memorandum and Order, ruling on the number of DigiFIN units that are subject to supplemental damages and also ruling that the supplemental damages applicable to the additional units should be calculated by adding together the jury’s previous reasonable royalty and lost profits damages awards per unit, resulting in supplemental damages of $73.1 million . In April 2014, the judge entered another Order, ruling that lost profits should not have been included in the calculation of supplemental damages in the October 2013 Memorandum and Order and reducing the supplemental damages award in the case from $73.1 million to $9.4 million . In the Order, the judge also further reduced the damages award in the case by $3.0 million to reflect a settlement and license that WesternGeco entered into with a customer of the Company that had purchased and used DigiFIN units that were also included in the damage amounts awarded against the Company. In May 2014, the judge signed and entered a Final Judgment in the amount of $123.8 million related to the case. The Final Judgment also included an injunction that enjoins the Company, its agents and anyone acting in concert with it, from supplying in or from the United States the DigiFIN product or any parts unique to the DigiFIN product, or any instrumentality no more than colorably different from any of these products or parts, for combination outside of the United States. The Company has conducted its business in compliance with the district court’s orders in the case, and the Company has reorganized its operations such that it no longer supplies the DigiFIN product or any parts unique to the DigiFIN product in or from the United States. The Company and WesternGeco each appealed the Final Judgment to the United States Court of Appeals for the Federal Circuit in Washington, D.C. On July 2, 2015, the Court of Appeals reversed in part the judgment, holding the district court erred by including lost profits in the Final Judgment. Lost profits were $93.4 million and prejudgment interest was approximately $10.9 million of the $123.8 million Final Judgment. Pre-judgment interest on the lost profits portion will be treated in the same way as the lost profits. Post-judgment interest will likewise be treated in the same fashion. On July 29, 2015, WesternGeco filed a petition for rehearing en banc before the Court of Appeals. On October 30, 2015 the Court of Appeals denied WesternGeco’s petition for rehearing en banc. WesternGeco has up to 90 days to determine whether or not it will file a writ requesting the Supreme Court to review the case. As previously disclosed, the Company had taken a loss contingency accrual of $124 million . As a result of the reversal by the Court of Appeals, as of June 30, 2015, the Company reduced the loss contingency accrual to its current amount of $22 million . The Company’s assessment of its potential loss contingency may change in the future due to developments in the case and other events, such as changes in applicable law, and such reassessment could lead to the determination that no loss contingency is probable or that a greater or lesser loss contingency is probable. Any such reassessment could have a material effect on the Company’s financial condition or results of operations. Prior to the reduction in damages by the Court of Appeals, the Company arranged with sureties to post an appeal bond at the trial court. The appeal bond is uncollateralized, but the terms of the appeal bond arrangements provide the sureties the contractual right for as long as the bond is outstanding to require the Company to post cash collateral. The Company has received a request for $11 million in collateral and they are in negotiations with the sureties. The appeal bond will remain outstanding during the pendency of appeals. Other 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. Management currently believes that the ultimate resolution of these matters will not have a material adverse impact on the financial condition, results of operations or liquidity of the Company.

Other Income (Expense), Net

Other Income (Expense), Net	9 Months Ended
	Sep. 30, 2015
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net The following table is a summary of other income (expense) , net (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Reductions of loss contingency related to legal proceedings (Footnote 7) $ — $ — $ 101,978 $ 69,557 Facility restructuring charges (Footnote 2) 296 — (2,791 ) — Gain on sale of product line (a) — — — 6,522 Other expense, net (642 ) (622 ) (1,152 ) (2,109 ) Total other income (expense), net $ (346 ) $ (622 ) $ 98,035 $ 73,970 (a) In May 2014, the Company sold its Source product line for approximately $14.4 million , net of transaction fees, recording a gain of approximately $6.5 million before taxes. As a part of this transaction, the Company reduced Goodwill on the Marine reporting unit by $5.1 million . The historical results of this product line have not been material to the Company’s results of operations.

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Details of Selected Balance Sheet Accounts	Details of Selected Balance Sheet Accounts Inventories The following table is a summary of inventories (in thousands): September 30, 2015 December 31, 2014 Raw materials and subassemblies $ 36,530 $ 41,461 Work-in-process 6,467 18,221 Finished goods 16,213 21,284 Reserve for excess and obsolete inventories (24,527 ) (29,804 ) Total $ 34,683 $ 51,162 The $5.3 million reduction in the reserve for excess and obsolete inventories was due to the scrapping of fully reserved inventory. Other Long-term Liabilities The following table is a summary of other long-term liabilities (in thousands): September 30, 2015 December 31, 2014 Accrual for loss contingency related to legal proceedings (Footnote 7) $ 22,000 $ 123,770 Deferred rents 13,397 13,416 Facility restructuring accrual 3,298 3,353 Other long-term liabilities 1,135 3,265 Total $ 39,830 $ 143,804

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive loss The following table is a summary of changes in accumulated other comprehensive loss by component (in thousands): Foreign currency translation adjustments Total Accumulated other comprehensive loss at December 31, 2014 $ (12,807 ) $ (12,807 ) Net current-period other comprehensive income (loss) (757 ) (757 ) Accumulated other comprehensive loss at September 30, 2015 $ (13,564 ) $ (13,564 )

Supplemental Cash Flow Informat

Supplemental Cash Flow Information and Non-Cash Activity	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information and Non-cash Activity	Supplemental Cash Flow Information and Non-cash Activity The following table is a summary of cash paid for Interest and Income taxes and non-cash items from investing and financing activities (in thousands): Nine Months Ended September 30, 2015 2014 Cash paid during the period for: Interest $ 8,036 $ 9,087 Income taxes $ 7,614 $ 12,008 Non-cash items from investing and financing activities: Purchases of computer equipment financed through capital leases $ 1,178 $ 5,768 Investment in multi-client data library financed through accounts payable $ 13,617 $ 1,298 Conversion of investment in a convertible note to equity $ — $ 3,151 Transfer of inventory to property, plant, equipment and seismic rental equipment $ 15,936 (a) $ 3,039 (a) This transfer of inventory to property, plant, equipment and seismic rental equipment relates to ocean bottom seismic equipment manufactured by the Company to be deployed in the acquisition of ocean bottom seismic data. During the nine months ended September 30, 2015 , the Company purchased approximately $17.6 million of property, plant, equipment and seismic rental equipment, including approximately $14.3 million related to the manufacture of ocean bottom seismic equipment that will be used by the Ocean Bottom Services segment.

Acquisition of OceanGeo

Acquisition of OceanGeo	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisition of OceanGeo	Acquisition of OceanGeo In 2014, the Company completed the acquisition of OceanGeo B.V. (“OceanGeo”). OceanGeo specializes in seismic acquisition operations using ocean bottom cables deployed from vessels leased by OceanGeo. For a complete discussion of the acquisition of OceanGeo, see Footnote 3 to the Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . The following summarized unaudited pro forma consolidated income statement information for the nine months ended September 30, 2014 , assumes that the OceanGeo acquisition had occurred as of the beginning of the period prior to the period the acquisition occurred. The Company has prepared these unaudited pro forma financial results for comparative purposes only. These unaudited pro forma financial results may not be indicative of the results that would have occurred if ION had completed the acquisition as of the beginning of that prior period or the results that may be attained in the future. Amounts presented below are in thousands, except for the per share amounts: Pro forma Consolidated ION Income Statement Information Nine Months Ended September 30, 2014 Net revenues $ 381,902 Income from operations $ 22,492 Net income $ 55,838 Net income attributable to ION $ 53,684 Basic and diluted net income per common share $ 0.33 OceanGeo did not record any revenues during the nine months ended September 30, 2015 due to its vessels being idle while it attempts to secure a backlog of future orders.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
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, prioritizing and defining the types of inputs used to measure fair value. The carrying amounts of the Company’s long-term debt as of September 30, 2015 and December 31, 2014 were $186.3 million and $190.6 million , respectively, compared to its fair values of $108.9 million and $162.6 million as of September 30, 2015 and December 31, 2014 , respectively. The fair value of the long-term debt was calculated using an active market price, based on Level 1 inputs defined as quoted prices for identical instruments in active markets. Fair Value of Other Financial Instruments. Due to their highly liquid nature, the amount of the Company’s other financial instruments, including cash and cash equivalents, accounts and unbilled receivables, notes receivable, accounts payable, and accrued multi-client data library royalties, represent their approximate fair value.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation Stock Appreciation Rights (“SARs”) . On March 1, 2015, the Company issued 3,108,107 SAR awards to 16 individuals with an exercise price of $2.28 . The vesting of these SARs is achieved through both a market condition and a service condition. The market condition is achieved, in part or in full, in the event that during the four -year period beginning on the date of grant the 20 -day trailing volume-weighted average price of a share of common stock is (i) greater than 120% of the exercise price for the first 1/3 of the awards, (ii) greater than 125% of the exercise price for the second 1/3 of the awards and (iii) greater than 130% of the exercise price for the final 1/3 of the awards. The exercise condition restricts the ability of the holders to exercise awards until certain service milestones have been reached such that (i) no more than 1/3 of the awards may be exercised, if vested, on and after the first anniversary of the date of grant, (ii) no more than 2/3 of the awards may be exercised, if vested, on and after the second anniversary of the date of grant and (iii) all of the awards may be exercised, if vested, on and after the third anniversary of the date of grant. For the nine months ended September 30, 2015 , the Company recorded $0.6 million of share-based compensation expense attributable to SAR awards. Pursuant to ASC 718, “ Compensation – Stock Compensation ,” the SARs are considered liability awards and as such, these amounts are accrued in the liability section of the balance sheet. The Company calculated the fair value of each SAR award on the date of grant using a Monte Carlo simulation model. The following assumptions were used: March 1, 2015 Risk-free interest rates 2.03% Expected lives (in years) 2.7 Expected dividend yield —% Expected volatility 60.27%

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions BGP Inc. (“BGP”) owned approximately 14.4% of the Company’s outstanding common stock as of September 30, 2015 . For the nine months ended September 30, 2015 and 2014 , the Company recorded revenues from BGP of $5.2 million and $5.1 million , respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue Recognition — In May 2014, the FASB and the International Accounting Standards Board (“IASB”) jointly issued new accounting guidance for recognition of revenue. This new guidance replaces virtually all existing U.S. GAAP and IFRS guidance on revenue recognition. On July 9, 2015, the FASB voted to defer the effective date for its new revenue standard for public and nonpublic entities reporting under U.S. GAAP by one year. As a result, the new guidance is now effective for fiscal years beginning after December 15, 2017. This new guidance applies to all periods presented. Therefore, when the Company issues its financial statements on Forms 10-Q and 10-K for periods included in its year ended December 31, 2018, its comparative periods that are presented from the years ended December 31, 2016 and 2017 must be retrospectively presented in compliance with this new guidance. The new guidance requires companies to make more estimates and use more judgment than under current accounting guidance. Public entities will be permitted to adopt the standard as early as the original public entity effective date (i.e, annual reporting periods beginning after December 15, 2016 and interim periods therein). Early adoption prior to that date will not be permitted. The FASB and IASB (collectively, the “Boards”) have discussed clarifying the guidance in their new revenue standards for: (1) licenses of intellectual property, (2) identifying performance obligations, (3) noncash consideration and (4) collectability. The Boards have also discussed whether to add practical expedients for the accounting for contract modifications at transition and the presentation of sales taxes, and the FASB separately discussed several technical corrections. The FASB and the IASB did not agree on the nature and breadth of all of the changes to be proposed. The Boards are expected to issue separate exposure drafts later this year. The Company continues to evaluate (i) the two allowed adoption methods to determine which method it plans to use for retrospective presentation of comparative periods, (ii) the impact of proposed clarifications to the guidance on timing of the recognition of revenue within the Company’s various revenue streams, (iii) the Company’s option to adopt the new guidance either as of the originally proposed effective date or the proposed deferred effective date and (iv) whether the implementation of this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information In 2013, the Company sold $175.0 million in aggregate principal amount of its Note s. The Notes were issued by ION Geophysical Corporation and are guaranteed by the Company’s material U.S. subsidiaries, GX Technology Corporation, ION Exploration Products (U.S.A.), Inc. and I/O Marine Systems, Inc. (“the Guarantors”), all of which are 100-percent-owned subsidiaries. The Guarantors have fully and unconditionally guaranteed the payment obligations of ION Geophysical Corporation with respect to the 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 consolidated financial statements and footnotes. September 30, 2015 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 25,470 $ — $ 62,769 $ — $ 88,239 Accounts receivable, net 6 11,017 10,564 — 21,587 Unbilled receivables — 30,719 1,668 — 32,387 Inventories — 12,578 22,105 — 34,683 Prepaid expenses and other current assets 2,638 1,971 6,160 (645 ) 10,124 Total current assets 28,114 56,285 103,266 (645 ) 187,020 Deferred income tax asset — 8,296 200 (2,790 ) 5,706 Property, plant, equipment and seismic rental equipment, net 5,051 24,064 47,966 — 77,081 Multi-client data library, net — 121,329 14,578 — 135,907 Investment in subsidiaries 684,815 232,637 — (917,452 ) — Goodwill — — 26,809 — 26,809 Intangible assets, net — 4,956 350 — 5,306 Intercompany receivables 78,982 — — (78,982 ) — Other assets 8,000 141 1,239 — 9,380 Total assets $ 804,962 $ 447,708 $ 194,408 $ (999,869 ) $ 447,209 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ — $ 6,533 $ 79 $ — $ 6,612 Accounts payable 1,763 20,508 5,679 — 27,950 Accrued expenses 16,282 25,546 12,526 (52 ) 54,302 Accrued multi-client data library royalties — 11,926 517 — 12,443 Deferred revenue — 3,135 2,440 — 5,575 Total current liabilities 18,045 67,648 21,241 (52 ) 106,882 Long-term debt, net of current maturities 175,000 4,626 40 — 179,666 Intercompany payables 491,902 69,852 9,130 (570,884 ) — Other long-term liabilities 476 31,834 10,904 (3,384 ) 39,830 Total liabilities 685,423 173,960 41,315 (574,320 ) 326,378 Redeemable noncontrolling interest — — 1,200 — 1,200 Equity: Common stock 1,648 290,460 19,138 (309,598 ) 1,648 Additional paid-in capital 892,007 180,700 234,234 (414,934 ) 892,007 Accumulated earnings (deficit) (753,987 ) 224,206 (23,589 ) (200,617 ) (753,987 ) Accumulated other comprehensive income (loss) (13,564 ) 5,663 (13,361 ) 7,698 (13,564 ) Due from ION Geophysical Corporation — (427,281 ) (64,621 ) 491,902 — Treasury stock (6,565 ) — — — (6,565 ) Total stockholders’ equity 119,539 273,748 151,801 (425,549 ) 119,539 Noncontrolling interests — — 92 — 92 Total equity 119,539 273,748 151,893 (425,549 ) 119,631 Total liabilities and equity $ 804,962 $ 447,708 $ 194,408 $ (999,869 ) $ 447,209 December 31, 2014 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 109,514 $ — $ 64,094 $ — $ 173,608 Accounts receivable, net 123 49,892 64,310 — 114,325 Unbilled receivables — 18,548 4,051 — 22,599 Inventories — 4,013 47,149 — 51,162 Prepaid expenses and other current assets 6,692 2,697 8,769 (4,496 ) 13,662 Total current assets 116,329 75,150 188,373 (4,496 ) 375,356 Deferred income tax asset (7,852 ) 6,675 749 9,032 8,604 Property, plant, equipment and seismic rental equipment, net 6,412 33,065 30,363 — 69,840 Multi-client data library, net — 96,423 22,246 — 118,669 Investment in subsidiaries 675,499 278,294 — (953,793 ) — Goodwill — — 27,388 — 27,388 Intangible assets, net — 6,254 534 — 6,788 Intercompany receivables 29,979 — — (29,979 ) — Other assets 10,191 147 274 — 10,612 Total assets $ 830,558 $ 496,008 $ 269,927 $ (979,236 ) $ 617,257 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ — $ 6,965 $ 684 $ — $ 7,649 Accounts payable 4,308 12,028 20,527 — 36,863 Accrued expenses 3,904 34,738 21,807 4,815 65,264 Accrued multi-client data library royalties — 34,624 595 — 35,219 Deferred revenue — 5,263 2,999 — 8,262 Total current liabilities 8,212 93,618 46,612 4,815 153,257 Long-term debt, net of current maturities 175,000 7,839 106 — 182,945 Intercompany payables 509,124 8,892 21,087 (539,103 ) — Other long-term liabilities 2,609 130,985 10,489 (279 ) 143,804 Total liabilities 694,945 241,334 78,294 (534,567 ) 480,006 Redeemable noncontrolling interest — — 1,539 — 1,539 Equity: Common stock 1,645 290,460 19,138 (309,598 ) 1,645 Additional paid-in capital 887,749 180,700 234,234 (414,934 ) 887,749 Accumulated earnings (deficit) (734,409 ) 208,846 26,981 (235,827 ) (734,409 ) Accumulated other comprehensive income (loss) (12,807 ) 6,229 (12,795 ) 6,566 (12,807 ) Due from ION Geophysical Corporation — (431,561 ) (77,563 ) 509,124 — Treasury stock (6,565 ) — — — (6,565 ) Total stockholders’ equity 135,613 254,674 189,995 (444,669 ) 135,613 Noncontrolling interests — — 99 — 99 Total equity 135,613 254,674 190,094 (444,669 ) 135,712 Total liabilities and equity $ 830,558 $ 496,008 $ 269,927 $ (979,236 ) $ 617,257 Three Months Ended September 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 41,768 $ 25,072 $ (166 ) $ 66,674 Cost of sales — 31,712 24,020 (166 ) 55,566 Gross profit — 10,056 1,052 — 11,108 Total operating expenses 3,914 11,266 8,802 — 23,982 Loss from operations (3,914 ) (1,210 ) (7,750 ) — (12,874 ) Interest expense, net (4,769 ) (107 ) 22 — (4,854 ) Intercompany interest, net 184 (806 ) 622 — — Equity in losses of investments (14,248 ) (12,141 ) — 26,389 — Other income (expense) 326 (9 ) (663 ) — (346 ) Net loss before income taxes (22,421 ) (14,273 ) (7,769 ) 26,389 (18,074 ) Income tax expense (benefit) (2,038 ) 65 4,055 — 2,082 Net loss (20,383 ) (14,338 ) (11,824 ) 26,389 (20,156 ) Net income attributable to noncontrolling interests — — (227 ) — (227 ) Net loss attributable to ION (20,383 ) (14,338 ) (12,051 ) 26,389 (20,383 ) Comprehensive net loss $ (21,748 ) $ (15,543 ) $ (12,940 ) $ 28,710 $ (21,521 ) Comprehensive income attributable to noncontrolling interest — — (227 ) — (227 ) Comprehensive net loss attributable to ION $ (21,748 ) $ (15,543 ) $ (13,167 ) $ 28,710 $ (21,748 ) Three Months Ended September 30, 2014 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 33,344 $ 73,947 $ (751 ) $ 106,540 Cost of sales — 32,447 45,621 (751 ) 77,317 Gross profit — 897 28,326 — 29,223 Total operating expenses 7,599 15,357 11,616 — 34,572 Income (loss) from operations (7,599 ) (14,460 ) 16,710 — (5,349 ) Interest expense, net (4,931 ) (58 ) (59 ) — (5,048 ) Intercompany interest, net (90 ) 566 (476 ) — — Equity in earnings (losses) of investments (12,131 ) 8,500 — (1,927 ) (5,558 ) Other income (expense) (17 ) 21 (626 ) — (622 ) Net income (loss) before income taxes (24,768 ) (5,431 ) 15,549 (1,927 ) (16,577 ) Income tax expense (benefit) (227 ) 800 7,772 — 8,345 Net income (loss) (24,541 ) (6,231 ) 7,777 (1,927 ) (24,922 ) Net loss attributable to noncontrolling interests — — 381 — 381 Net income (loss) attributable to ION (24,541 ) (6,231 ) 8,158 (1,927 ) (24,541 ) Comprehensive net income (loss) $ (26,407 ) $ (8,838 ) $ 5,168 $ 3,289 $ (26,788 ) Comprehensive loss attributable to noncontrolling interest — — 381 — 381 Comprehensive net income (loss) attributable to ION $ (26,407 ) $ (8,838 ) $ 5,549 $ 3,289 $ (26,407 ) Nine Months Ended September 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 83,082 $ 61,972 $ (1,007 ) $ 144,047 Cost of sales — 84,715 75,154 (1,007 ) 158,862 Gross loss — (1,633 ) (13,182 ) — (14,815 ) Total operating expenses 18,296 37,151 29,990 — 85,437 Loss from operations (18,296 ) (38,784 ) (43,172 ) — (100,252 ) Interest expense, net (13,826 ) (279 ) 19 — (14,086 ) Intercompany interest, net 466 (2,208 ) 1,742 — — Equity in earnings (losses) of investments 9,881 (45,091 ) — 35,210 — Other income (expense) 268 101,961 (4,194 ) — 98,035 Net income (loss) before income taxes (21,507 ) 15,599 (45,605 ) 35,210 (16,303 ) Income tax expense (benefit) (1,929 ) 239 5,287 — 3,597 Net income (loss) (19,578 ) 15,360 (50,892 ) 35,210 (19,900 ) Net loss attributable to noncontrolling interests — — 322 — 322 Net income (loss) applicable to ION (19,578 ) 15,360 (50,570 ) 35,210 (19,578 ) Comprehensive net income (loss) $ (20,335 ) $ 14,794 $ (51,458 ) $ 36,342 $ (20,657 ) Comprehensive loss attributable to noncontrolling interest — — 322 — 322 Comprehensive net income (loss) attributable to ION $ (20,335 ) $ 14,794 $ (51,136 ) $ 36,342 $ (20,335 ) Nine Months Ended September 30, 2014 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 159,347 $ 215,400 $ (2,029 ) $ 372,718 Cost of sales — 117,461 132,981 (2,029 ) 248,413 Gross profit — 41,886 82,419 — 124,305 Total operating expenses 24,138 45,938 36,122 — 106,198 Income (loss) from operations (24,138 ) (4,052 ) 46,297 — 18,107 Interest expense, net (13,962 ) (148 ) (669 ) — (14,779 ) Intercompany interest, net (234 ) 1,519 (1,285 ) — — Equity in earnings (losses) of investments 92,195 32,615 738 (134,575 ) (9,027 ) Other income (expense) (1,231 ) 73,504 1,697 — 73,970 Net income before income taxes 52,630 103,438 46,778 (134,575 ) 68,271 Income tax expense 4 999 13,258 — 14,261 Net income 52,626 102,439 33,520 (134,575 ) 54,010 Net income attributable to noncontrolling interests — — (1,384 ) — (1,384 ) Net income applicable to ION 52,626 102,439 32,136 (134,575 ) 52,626 Comprehensive net income $ 52,044 $ 102,957 $ 34,024 $ (135,597 ) $ 53,428 Comprehensive income attributable to noncontrolling interest — — (1,384 ) — (1,384 ) Comprehensive net income attributable to ION $ 52,044 $ 102,957 $ 32,640 $ (135,597 ) $ 52,044 Nine Months Ended September 30, 2015 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 $ (414,473 ) $ 173,725 $ 204,752 $ (35,996 ) Cash flows from investing activities: Cash invested in multi-client data library — (27,282 ) (870 ) (28,152 ) Purchase of property, plant, equipment and seismic rental equipment (347 ) (1,162 ) (16,092 ) (17,601 ) Other investing activities — 1,262 — 1,262 Net cash used in investing activities (347 ) (27,182 ) (16,962 ) (44,491 ) Cash flows from financing activities: Payments on notes payable and long-term debt — (4,798 ) (633 ) (5,431 ) Intercompany lending 330,828 (141,745 ) (189,083 ) — Other financing activities (52 ) — — (52 ) Net cash provided by (used in) financing activities 330,776 (146,543 ) (189,716 ) (5,483 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 601 601 Net decrease in cash and cash equivalents (84,044 ) — (1,325 ) (85,369 ) Cash and cash equivalents at beginning of period 109,514 — 64,094 173,608 Cash and cash equivalents at end of period $ 25,470 $ — $ 62,769 $ 88,239 Nine Months Ended September 30, 2014 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 $ (40,896 ) $ 63,588 $ 64,284 $ 86,976 Cash flows from investing activities: Investment in multi-client data library — (57,192 ) (148 ) (57,340 ) Purchase of property, plant, equipment and seismic rental equipment (1,501 ) (4,165 ) (1,176 ) (6,842 ) Repayment of advance to INOVA Geophysical 1,000 — — 1,000 Net investment in and advances to OceanGeo B.V. prior to its consolidation — — (3,074 ) (3,074 ) Net proceeds from sale of Source product line — 9,881 4,513 14,394 Other investing activities 579 — 349 928 Net cash provided by (used in) investing activities 78 (51,476 ) 464 (50,934 ) Cash flows from financing activities: Payments under revolving line of credit (50,000 ) — — (50,000 ) Borrowings under revolving line of credit 15,000 — — 15,000 Payments on notes payable and long-term debt — (4,470 ) (7,267 ) (11,737 ) Cost associated with issuance of notes (2,126 ) — — (2,126 ) Intercompany lending 37,114 (7,642 ) (29,472 ) — Acquisition of non-controlling interest — — (6,000 ) (6,000 ) Other financing activities 423 — — 423 Net cash provided by (used in) financing activities 411 (12,112 ) (42,739 ) (54,440 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 189 189 Net increase (decrease) in cash and cash equivalents (40,407 ) — 22,198 (18,209 ) Cash and cash equivalents at beginning of period 124,701 — 23,355 148,056 Cash and cash equivalents at end of period $ 84,294 $ — $ 45,553 $ 129,847

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 4, 2015, I ON announced that its board of directors has authorized the Company to repurchase, from time to time from November 10, 2015 through November 10, 2017, up to $25 million in shares of its outstanding common stock. The stock repurchase program may be implemented through open market repurchases or privately negotiated transactions, at management’s discretion. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors including the market price of the Company’s shares of common stock and general market and economic conditions, applicable legal requirements and compliance with the terms of the Company’s outstanding indebtedness.

Restructurings (Tables)

Restructurings (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	During the nine months ended September 30, 2015 , the Company recognized the following charges and credits (in thousands): Severance Charges (a) Facility Charges (b) Total Cost of goods sold $ 3,981 $ — $ 3,981 Operating expenses 1,910 1,323 3,233 Other (income) expense — 1,618 1,618 Income tax benefit (119 ) (150 ) (269 ) Net income attributable to noncontrolling interest (172 ) — (172 ) Consolidated total $ 5,600 $ 2,791 $ 8,391 (a) Represents severance charges related to 2015 restructurings, a portion of which relates to a noncontrolling interest. (b) Represents facility charges related to 2015 restructurings.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Summary of Segment Information	The following table is a summary of segment information (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net revenues: Solutions: New Venture $ 26,650 $ 18,446 $ 35,315 $ 76,499 Data Library 15,302 3,262 24,948 30,104 Total multi-client revenues 41,952 21,708 60,263 106,603 Data Processing 10,693 24,151 33,731 91,131 Total $ 52,645 $ 45,859 $ 93,994 $ 197,734 Systems: Towed Streamer $ 4,426 $ 13,666 $ 12,273 $ 35,782 Other 2,864 11,029 15,460 36,166 Total $ 7,290 $ 24,695 $ 27,733 $ 71,948 Software: Software Systems $ 5,869 $ 9,922 $ 19,396 $ 28,384 Services 870 1,088 2,924 3,198 Total $ 6,739 $ 11,010 $ 22,320 $ 31,582 Ocean Bottom Services $ — $ 24,976 $ — $ 71,454 Total $ 66,674 $ 106,540 $ 144,047 $ 372,718 Gross profit (loss): Solutions $ 11,294 $ 5,927 $ (6,954 ) $ 51,207 Systems 1,366 10,123 7,425 31,288 Software 4,399 8,326 14,197 23,388 Ocean Bottom Services (5,951 ) 4,847 (29,483 ) 18,422 Total $ 11,108 $ 29,223 $ (14,815 ) $ 124,305 Gross margin: Solutions 21 % 13 % (7 )% 26 % Systems 19 % 41 % 27 % 43 % Software 65 % 76 % 64 % 74 % Ocean Bottom Services — % 19 % — % 26 % Total 17 % 27 % (10 )% 33 % Income (loss) from operations: Solutions $ 768 $ (5,960 ) $ (40,766 ) $ 11,733 Systems (1,295 ) 2,917 (2,660 ) 9,835 Software 2,444 6,227 7,874 16,985 Ocean Bottom Services (7,289 ) 1,677 (34,856 ) 12,333 Corporate and other (7,502 ) (10,210 ) (29,844 ) (32,779 ) Income (loss) from operations (12,874 ) (5,349 ) (100,252 ) 18,107 Interest expense, net (4,854 ) (5,048 ) (14,086 ) (14,779 ) Equity in losses of investments — (5,558 ) — (9,027 ) Other income (expense), net (346 ) (622 ) 98,035 73,970 Income (loss) before income taxes $ (18,074 ) $ (16,577 ) $ (16,303 ) $ 68,271

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Obligations	Obligations (in thousands) September 30, 2015 December 31, 2014 Senior secured second-priority notes $ 175,000 $ 175,000 Equipment capital leases 11,278 15,059 Revolving credit facility — — Other debt — 535 Total 186,278 190,594 Current portion of long-term debt and lease obligations (6,612 ) (7,649 ) Non-current portion of long-term debt and lease obligations $ 179,666 $ 182,945
Debt Instrument Redemption	On or after May 15, 2015, the Company may on one or more occasions redeem all or a part of the Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Notes redeemed during the twelve-month period beginning on May 15th of the years indicated below: Date Percentage 2015 104.063% 2016 102.031% 2017 and thereafter 100.000%

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of basic and diluted net income per common share	The following table summarizes the computation of basic and diluted net income (loss) per common share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income (loss) attributable to ION $ (20,383 ) $ (24,541 ) $ (19,578 ) $ 52,626 Weighted average number of common shares outstanding 164,755 164,149 164,672 164,021 Effect of dilutive stock awards — — — 305 Weighted average number of diluted common shares outstanding 164,755 164,149 164,672 164,326 Basic net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.12 ) $ 0.32 Diluted net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.12 ) $ 0.32

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	9 Months Ended
	Sep. 30, 2015
Other Income and Expenses [Abstract]
Schedule of Other Income, Net	The following table is a summary of other income (expense) , net (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Reductions of loss contingency related to legal proceedings (Footnote 7) $ — $ — $ 101,978 $ 69,557 Facility restructuring charges (Footnote 2) 296 — (2,791 ) — Gain on sale of product line (a) — — — 6,522 Other expense, net (642 ) (622 ) (1,152 ) (2,109 ) Total other income (expense), net $ (346 ) $ (622 ) $ 98,035 $ 73,970 (a) In May 2014, the Company sold its Source product line for approximately $14.4 million , net of transaction fees, recording a gain of approximately $6.5 million before taxes. As a part of this transaction, the Company reduced Goodwill on the Marine reporting unit by $5.1 million . The historical results of this product line have not been material to the Company’s results of operations.

Details of Selected Balance S30

Details of Selected Balance Sheet Accounts (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories The following table is a summary of inventories (in thousands): September 30, 2015 December 31, 2014 Raw materials and subassemblies $ 36,530 $ 41,461 Work-in-process 6,467 18,221 Finished goods 16,213 21,284 Reserve for excess and obsolete inventories (24,527 ) (29,804 ) Total $ 34,683 $ 51,162
Summary of Other Long-term Liabilities	Other Long-term Liabilities The following table is a summary of other long-term liabilities (in thousands): September 30, 2015 December 31, 2014 Accrual for loss contingency related to legal proceedings (Footnote 7) $ 22,000 $ 123,770 Deferred rents 13,397 13,416 Facility restructuring accrual 3,298 3,353 Other long-term liabilities 1,135 3,265 Total $ 39,830 $ 143,804

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The following table is a summary of changes in accumulated other comprehensive loss by component (in thousands): Foreign currency translation adjustments Total Accumulated other comprehensive loss at December 31, 2014 $ (12,807 ) $ (12,807 ) Net current-period other comprehensive income (loss) (757 ) (757 ) Accumulated other comprehensive loss at September 30, 2015 $ (13,564 ) $ (13,564 )

Supplemental Cash Flow Inform32

Supplemental Cash Flow Information and Non-Cash Activity (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Summary of Non-cash Items from Investing and Financing Activities	The following table is a summary of cash paid for Interest and Income taxes and non-cash items from investing and financing activities (in thousands): Nine Months Ended September 30, 2015 2014 Cash paid during the period for: Interest $ 8,036 $ 9,087 Income taxes $ 7,614 $ 12,008 Non-cash items from investing and financing activities: Purchases of computer equipment financed through capital leases $ 1,178 $ 5,768 Investment in multi-client data library financed through accounts payable $ 13,617 $ 1,298 Conversion of investment in a convertible note to equity $ — $ 3,151 Transfer of inventory to property, plant, equipment and seismic rental equipment $ 15,936 (a) $ 3,039 (a) This transfer of inventory to property, plant, equipment and seismic rental equipment relates to ocean bottom seismic equipment manufactured by the Company to be deployed in the acquisition of ocean bottom seismic data. During the nine months ended September 30, 2015 , the Company purchased approximately $17.6 million of property, plant, equipment and seismic rental equipment, including approximately $14.3 million related to the manufacture of ocean bottom seismic equipment that will be used by the Ocean Bottom Services segment.

Acquisition of OceanGeo (Tables

Acquisition of OceanGeo (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Business Acquisition, Pro Forma Information	Amounts presented below are in thousands, except for the per share amounts: Pro forma Consolidated ION Income Statement Information Nine Months Ended September 30, 2014 Net revenues $ 381,902 Income from operations $ 22,492 Net income $ 55,838 Net income attributable to ION $ 53,684 Basic and diluted net income per common share $ 0.33

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following assumptions were used: March 1, 2015 Risk-free interest rates 2.03% Expected lives (in years) 2.7 Expected dividend yield —% Expected volatility 60.27%

Condensed Consolidating Finan35

Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Balance Sheet	September 30, 2015 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 25,470 $ — $ 62,769 $ — $ 88,239 Accounts receivable, net 6 11,017 10,564 — 21,587 Unbilled receivables — 30,719 1,668 — 32,387 Inventories — 12,578 22,105 — 34,683 Prepaid expenses and other current assets 2,638 1,971 6,160 (645 ) 10,124 Total current assets 28,114 56,285 103,266 (645 ) 187,020 Deferred income tax asset — 8,296 200 (2,790 ) 5,706 Property, plant, equipment and seismic rental equipment, net 5,051 24,064 47,966 — 77,081 Multi-client data library, net — 121,329 14,578 — 135,907 Investment in subsidiaries 684,815 232,637 — (917,452 ) — Goodwill — — 26,809 — 26,809 Intangible assets, net — 4,956 350 — 5,306 Intercompany receivables 78,982 — — (78,982 ) — Other assets 8,000 141 1,239 — 9,380 Total assets $ 804,962 $ 447,708 $ 194,408 $ (999,869 ) $ 447,209 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ — $ 6,533 $ 79 $ — $ 6,612 Accounts payable 1,763 20,508 5,679 — 27,950 Accrued expenses 16,282 25,546 12,526 (52 ) 54,302 Accrued multi-client data library royalties — 11,926 517 — 12,443 Deferred revenue — 3,135 2,440 — 5,575 Total current liabilities 18,045 67,648 21,241 (52 ) 106,882 Long-term debt, net of current maturities 175,000 4,626 40 — 179,666 Intercompany payables 491,902 69,852 9,130 (570,884 ) — Other long-term liabilities 476 31,834 10,904 (3,384 ) 39,830 Total liabilities 685,423 173,960 41,315 (574,320 ) 326,378 Redeemable noncontrolling interest — — 1,200 — 1,200 Equity: Common stock 1,648 290,460 19,138 (309,598 ) 1,648 Additional paid-in capital 892,007 180,700 234,234 (414,934 ) 892,007 Accumulated earnings (deficit) (753,987 ) 224,206 (23,589 ) (200,617 ) (753,987 ) Accumulated other comprehensive income (loss) (13,564 ) 5,663 (13,361 ) 7,698 (13,564 ) Due from ION Geophysical Corporation — (427,281 ) (64,621 ) 491,902 — Treasury stock (6,565 ) — — — (6,565 ) Total stockholders’ equity 119,539 273,748 151,801 (425,549 ) 119,539 Noncontrolling interests — — 92 — 92 Total equity 119,539 273,748 151,893 (425,549 ) 119,631 Total liabilities and equity $ 804,962 $ 447,708 $ 194,408 $ (999,869 ) $ 447,209 December 31, 2014 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 109,514 $ — $ 64,094 $ — $ 173,608 Accounts receivable, net 123 49,892 64,310 — 114,325 Unbilled receivables — 18,548 4,051 — 22,599 Inventories — 4,013 47,149 — 51,162 Prepaid expenses and other current assets 6,692 2,697 8,769 (4,496 ) 13,662 Total current assets 116,329 75,150 188,373 (4,496 ) 375,356 Deferred income tax asset (7,852 ) 6,675 749 9,032 8,604 Property, plant, equipment and seismic rental equipment, net 6,412 33,065 30,363 — 69,840 Multi-client data library, net — 96,423 22,246 — 118,669 Investment in subsidiaries 675,499 278,294 — (953,793 ) — Goodwill — — 27,388 — 27,388 Intangible assets, net — 6,254 534 — 6,788 Intercompany receivables 29,979 — — (29,979 ) — Other assets 10,191 147 274 — 10,612 Total assets $ 830,558 $ 496,008 $ 269,927 $ (979,236 ) $ 617,257 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ — $ 6,965 $ 684 $ — $ 7,649 Accounts payable 4,308 12,028 20,527 — 36,863 Accrued expenses 3,904 34,738 21,807 4,815 65,264 Accrued multi-client data library royalties — 34,624 595 — 35,219 Deferred revenue — 5,263 2,999 — 8,262 Total current liabilities 8,212 93,618 46,612 4,815 153,257 Long-term debt, net of current maturities 175,000 7,839 106 — 182,945 Intercompany payables 509,124 8,892 21,087 (539,103 ) — Other long-term liabilities 2,609 130,985 10,489 (279 ) 143,804 Total liabilities 694,945 241,334 78,294 (534,567 ) 480,006 Redeemable noncontrolling interest — — 1,539 — 1,539 Equity: Common stock 1,645 290,460 19,138 (309,598 ) 1,645 Additional paid-in capital 887,749 180,700 234,234 (414,934 ) 887,749 Accumulated earnings (deficit) (734,409 ) 208,846 26,981 (235,827 ) (734,409 ) Accumulated other comprehensive income (loss) (12,807 ) 6,229 (12,795 ) 6,566 (12,807 ) Due from ION Geophysical Corporation — (431,561 ) (77,563 ) 509,124 — Treasury stock (6,565 ) — — — (6,565 ) Total stockholders’ equity 135,613 254,674 189,995 (444,669 ) 135,613 Noncontrolling interests — — 99 — 99 Total equity 135,613 254,674 190,094 (444,669 ) 135,712 Total liabilities and equity $ 830,558 $ 496,008 $ 269,927 $ (979,236 ) $ 617,257
Condensed Income Statement	Three Months Ended September 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 41,768 $ 25,072 $ (166 ) $ 66,674 Cost of sales — 31,712 24,020 (166 ) 55,566 Gross profit — 10,056 1,052 — 11,108 Total operating expenses 3,914 11,266 8,802 — 23,982 Loss from operations (3,914 ) (1,210 ) (7,750 ) — (12,874 ) Interest expense, net (4,769 ) (107 ) 22 — (4,854 ) Intercompany interest, net 184 (806 ) 622 — — Equity in losses of investments (14,248 ) (12,141 ) — 26,389 — Other income (expense) 326 (9 ) (663 ) — (346 ) Net loss before income taxes (22,421 ) (14,273 ) (7,769 ) 26,389 (18,074 ) Income tax expense (benefit) (2,038 ) 65 4,055 — 2,082 Net loss (20,383 ) (14,338 ) (11,824 ) 26,389 (20,156 ) Net income attributable to noncontrolling interests — — (227 ) — (227 ) Net loss attributable to ION (20,383 ) (14,338 ) (12,051 ) 26,389 (20,383 ) Comprehensive net loss $ (21,748 ) $ (15,543 ) $ (12,940 ) $ 28,710 $ (21,521 ) Comprehensive income attributable to noncontrolling interest — — (227 ) — (227 ) Comprehensive net loss attributable to ION $ (21,748 ) $ (15,543 ) $ (13,167 ) $ 28,710 $ (21,748 ) Three Months Ended September 30, 2014 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 33,344 $ 73,947 $ (751 ) $ 106,540 Cost of sales — 32,447 45,621 (751 ) 77,317 Gross profit — 897 28,326 — 29,223 Total operating expenses 7,599 15,357 11,616 — 34,572 Income (loss) from operations (7,599 ) (14,460 ) 16,710 — (5,349 ) Interest expense, net (4,931 ) (58 ) (59 ) — (5,048 ) Intercompany interest, net (90 ) 566 (476 ) — — Equity in earnings (losses) of investments (12,131 ) 8,500 — (1,927 ) (5,558 ) Other income (expense) (17 ) 21 (626 ) — (622 ) Net income (loss) before income taxes (24,768 ) (5,431 ) 15,549 (1,927 ) (16,577 ) Income tax expense (benefit) (227 ) 800 7,772 — 8,345 Net income (loss) (24,541 ) (6,231 ) 7,777 (1,927 ) (24,922 ) Net loss attributable to noncontrolling interests — — 381 — 381 Net income (loss) attributable to ION (24,541 ) (6,231 ) 8,158 (1,927 ) (24,541 ) Comprehensive net income (loss) $ (26,407 ) $ (8,838 ) $ 5,168 $ 3,289 $ (26,788 ) Comprehensive loss attributable to noncontrolling interest — — 381 — 381 Comprehensive net income (loss) attributable to ION $ (26,407 ) $ (8,838 ) $ 5,549 $ 3,289 $ (26,407 ) Nine Months Ended September 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 83,082 $ 61,972 $ (1,007 ) $ 144,047 Cost of sales — 84,715 75,154 (1,007 ) 158,862 Gross loss — (1,633 ) (13,182 ) — (14,815 ) Total operating expenses 18,296 37,151 29,990 — 85,437 Loss from operations (18,296 ) (38,784 ) (43,172 ) — (100,252 ) Interest expense, net (13,826 ) (279 ) 19 — (14,086 ) Intercompany interest, net 466 (2,208 ) 1,742 — — Equity in earnings (losses) of investments 9,881 (45,091 ) — 35,210 — Other income (expense) 268 101,961 (4,194 ) — 98,035 Net income (loss) before income taxes (21,507 ) 15,599 (45,605 ) 35,210 (16,303 ) Income tax expense (benefit) (1,929 ) 239 5,287 — 3,597 Net income (loss) (19,578 ) 15,360 (50,892 ) 35,210 (19,900 ) Net loss attributable to noncontrolling interests — — 322 — 322 Net income (loss) applicable to ION (19,578 ) 15,360 (50,570 ) 35,210 (19,578 ) Comprehensive net income (loss) $ (20,335 ) $ 14,794 $ (51,458 ) $ 36,342 $ (20,657 ) Comprehensive loss attributable to noncontrolling interest — — 322 — 322 Comprehensive net income (loss) attributable to ION $ (20,335 ) $ 14,794 $ (51,136 ) $ 36,342 $ (20,335 ) Nine Months Ended September 30, 2014 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 159,347 $ 215,400 $ (2,029 ) $ 372,718 Cost of sales — 117,461 132,981 (2,029 ) 248,413 Gross profit — 41,886 82,419 — 124,305 Total operating expenses 24,138 45,938 36,122 — 106,198 Income (loss) from operations (24,138 ) (4,052 ) 46,297 — 18,107 Interest expense, net (13,962 ) (148 ) (669 ) — (14,779 ) Intercompany interest, net (234 ) 1,519 (1,285 ) — — Equity in earnings (losses) of investments 92,195 32,615 738 (134,575 ) (9,027 ) Other income (expense) (1,231 ) 73,504 1,697 — 73,970 Net income before income taxes 52,630 103,438 46,778 (134,575 ) 68,271 Income tax expense 4 999 13,258 — 14,261 Net income 52,626 102,439 33,520 (134,575 ) 54,010 Net income attributable to noncontrolling interests — — (1,384 ) — (1,384 ) Net income applicable to ION 52,626 102,439 32,136 (134,575 ) 52,626 Comprehensive net income $ 52,044 $ 102,957 $ 34,024 $ (135,597 ) $ 53,428 Comprehensive income attributable to noncontrolling interest — — (1,384 ) — (1,384 ) Comprehensive net income attributable to ION $ 52,044 $ 102,957 $ 32,640 $ (135,597 ) $ 52,044
Condensed Cash Flow Statement	Nine Months Ended September 30, 2015 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 $ (414,473 ) $ 173,725 $ 204,752 $ (35,996 ) Cash flows from investing activities: Cash invested in multi-client data library — (27,282 ) (870 ) (28,152 ) Purchase of property, plant, equipment and seismic rental equipment (347 ) (1,162 ) (16,092 ) (17,601 ) Other investing activities — 1,262 — 1,262 Net cash used in investing activities (347 ) (27,182 ) (16,962 ) (44,491 ) Cash flows from financing activities: Payments on notes payable and long-term debt — (4,798 ) (633 ) (5,431 ) Intercompany lending 330,828 (141,745 ) (189,083 ) — Other financing activities (52 ) — — (52 ) Net cash provided by (used in) financing activities 330,776 (146,543 ) (189,716 ) (5,483 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 601 601 Net decrease in cash and cash equivalents (84,044 ) — (1,325 ) (85,369 ) Cash and cash equivalents at beginning of period 109,514 — 64,094 173,608 Cash and cash equivalents at end of period $ 25,470 $ — $ 62,769 $ 88,239 Nine Months Ended September 30, 2014 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 $ (40,896 ) $ 63,588 $ 64,284 $ 86,976 Cash flows from investing activities: Investment in multi-client data library — (57,192 ) (148 ) (57,340 ) Purchase of property, plant, equipment and seismic rental equipment (1,501 ) (4,165 ) (1,176 ) (6,842 ) Repayment of advance to INOVA Geophysical 1,000 — — 1,000 Net investment in and advances to OceanGeo B.V. prior to its consolidation — — (3,074 ) (3,074 ) Net proceeds from sale of Source product line — 9,881 4,513 14,394 Other investing activities 579 — 349 928 Net cash provided by (used in) investing activities 78 (51,476 ) 464 (50,934 ) Cash flows from financing activities: Payments under revolving line of credit (50,000 ) — — (50,000 ) Borrowings under revolving line of credit 15,000 — — 15,000 Payments on notes payable and long-term debt — (4,470 ) (7,267 ) (11,737 ) Cost associated with issuance of notes (2,126 ) — — (2,126 ) Intercompany lending 37,114 (7,642 ) (29,472 ) — Acquisition of non-controlling interest — — (6,000 ) (6,000 ) Other financing activities 423 — — 423 Net cash provided by (used in) financing activities 411 (12,112 ) (42,739 ) (54,440 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 189 189 Net increase (decrease) in cash and cash equivalents (40,407 ) — 22,198 (18,209 ) Cash and cash equivalents at beginning of period 124,701 — 23,355 148,056 Cash and cash equivalents at end of period $ 84,294 $ — $ 45,553 $ 129,847

Restructurings - Narrative (Det

Restructurings - Narrative (Details)	9 Months Ended
	Sep. 30, 2015geographical_hubslocation
Restructuring Cost and Reserve [Line Items]
Crude oil, lowest prices, number of years evaluated	5 years
Percentage reduction in full-time employee base	50.00%
Towed Streamer [Member] | Systems [Member]
Restructuring Cost and Reserve [Line Items]
Number of geographical hubs | geographical_hubs	2
Number of locations	2

Restructurings - Restructuring

Restructurings - Restructuring Charges (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	$ 8,391
Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	5,600
Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	2,791
Cost of goods sold [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	3,981
Cost of goods sold [Member] | Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	3,981
Cost of goods sold [Member] | Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	0
Operating expenses [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	3,233
Operating expenses [Member] | Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	1,910
Operating expenses [Member] | Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	1,323
Other (income) expense [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	1,618
Other (income) expense [Member] | Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	1,618
Income tax benefit [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	(269)
Income tax benefit [Member] | Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	(119)
Income tax benefit [Member] | Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	(150)
Net income attributable to noncontrolling interest [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	(172)
Net income attributable to noncontrolling interest [Member] | Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	$ (172)

Segment Information (Details)

Segment Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			4
Summary of segment information
Revenues	$ 66,674,000	$ 106,540,000	$ 144,047,000	$ 372,718,000
Gross profit (loss)	11,108,000	29,223,000	(14,815,000)	124,305,000
Income (loss) from operations	(12,874,000)	(5,349,000)	(100,252,000)	18,107,000
Interest expense, net	(4,854,000)	(5,048,000)	(14,086,000)	(14,779,000)
Equity in losses of investments	0	(5,558,000)	0	(9,027,000)
Other income (expense), net	(346,000)	(622,000)	98,035,000	73,970,000
Income (loss) before income taxes	(18,074,000)	(16,577,000)	(16,303,000)	68,271,000
Operating segments [Member]
Summary of segment information
Revenues	66,674,000	106,540,000	144,047,000	372,718,000
Gross profit (loss)	$ 11,108,000	$ 29,223,000	$ (14,815,000)	$ 124,305,000
Gross margin	17.00%	27.00%	(10.00%)	33.00%
Operating segments [Member] | Solutions [Member]
Summary of segment information
Revenues	$ 52,645,000	$ 45,859,000	$ 93,994,000	$ 197,734,000
Gross profit (loss)	$ 11,294,000	$ 5,927,000	$ (6,954,000)	$ 51,207,000
Gross margin	21.00%	13.00%	(7.00%)	26.00%
Income (loss) from operations	$ 768,000	$ (5,960,000)	$ (40,766,000)	$ 11,733,000
Operating segments [Member] | Solutions [Member] | New Venture and Data Library [Member]
Summary of segment information
Revenues	41,952,000	21,708,000	60,263,000	106,603,000
Operating segments [Member] | Solutions [Member] | New Venture [Member]
Summary of segment information
Revenues	26,650,000	18,446,000	35,315,000	76,499,000
Operating segments [Member] | Solutions [Member] | Data Library [Member]
Summary of segment information
Revenues	15,302,000	3,262,000	24,948,000	30,104,000
Operating segments [Member] | Solutions [Member] | Data Processing [Member]
Summary of segment information
Revenues	10,693,000	24,151,000	33,731,000	91,131,000
Operating segments [Member] | Systems [Member]
Summary of segment information
Revenues	7,290,000	24,695,000	27,733,000	71,948,000
Gross profit (loss)	$ 1,366,000	$ 10,123,000	$ 7,425,000	$ 31,288,000
Gross margin	19.00%	41.00%	27.00%	43.00%
Income (loss) from operations	$ (1,295,000)	$ 2,917,000	$ (2,660,000)	$ 9,835,000
Operating segments [Member] | Systems [Member] | Towed Streamer [Member]
Summary of segment information
Revenues	4,426,000	13,666,000	12,273,000	35,782,000
Operating segments [Member] | Systems [Member] | Other [Member]
Summary of segment information
Revenues	2,864,000	11,029,000	15,460,000	36,166,000
Operating segments [Member] | Software [Member]
Summary of segment information
Revenues	6,739,000	11,010,000	22,320,000	31,582,000
Gross profit (loss)	$ 4,399,000	$ 8,326,000	$ 14,197,000	$ 23,388,000
Gross margin	65.00%	76.00%	64.00%	74.00%
Income (loss) from operations	$ 2,444,000	$ 6,227,000	$ 7,874,000	$ 16,985,000
Operating segments [Member] | Software [Member] | Software Systems [Member]
Summary of segment information
Revenues	5,869,000	9,922,000	19,396,000	28,384,000
Operating segments [Member] | Software [Member] | Services [Member]
Summary of segment information
Revenues	870,000	1,088,000	2,924,000	3,198,000
Operating segments [Member] | Ocean Bottom Services Segment [Member]
Summary of segment information
Revenues	0	24,976,000	0	71,454,000
Gross profit (loss)	$ (5,951,000)	$ 4,847,000	$ (29,483,000)	$ 18,422,000
Gross margin	0.00%	19.00%	0.00%	26.00%
Income (loss) from operations	$ (7,289,000)	$ 1,677,000	$ (34,856,000)	$ 12,333,000
Corporate and other [Member] | Corporate and Other [Member]
Summary of segment information
Income (loss) from operations	$ (7,502,000)	$ (10,210,000)	$ (29,844,000)	$ (32,779,000)
INOVA Geophysical [Member]
Segment Reporting Information [Line Items]
Equity method investments value					$ 0

Long-term Debt - Obligations (D

Long-term Debt - Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Obligations
Total debt	$ 186,278	$ 190,594
Current portion of long-term debt and lease obligations	(6,612)	(7,649)
Non-current portion of long-term debt and lease obligations	179,666	182,945
Senior secured second-priority notes [Member]
Obligations
Total debt	175,000	175,000
Equipment capital leases [Member]
Obligations
Total debt	11,278	15,059
Revolving credit facility [Member]
Obligations
Total debt	0	0
Other debt [Member]
Obligations
Total debt	$ 0	$ 535

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	Aug. 04, 2015USD ($)	Sep. 30, 2015USD ($)	Aug. 31, 2014USD ($)	May. 31, 2013USD ($)	May. 13, 2013USD ($)
Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt				$ 175,000,000	$ 175,000,000
Stated rate on debt				8.125%
Line of Credit [Member] | PNC Bank, National Association (PNC) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	1.1
Line of Credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Current borrowing capacity	$ 40,000,000	$ 40,000,000	$ 80,000,000
Limit for multi-client liquidation component	15,000,000
Qualified cash component, maximum to be removed	20,000,000
Debt Instrument, Covenant Compliance, Required Liquidity, Maintained Five Consecutive Business Days	5,000,000
Debt Instrument, Covenant Compliance, Required Liquidity, Maintained Any Business Day	$ 4,000,000

Long-term Debt - Debt Instrumen

Long-term Debt - Debt Instrument Redemption Percentages (Details) - Senior Notes [Member]	May. 15, 2015
2015 [Member]
Debt Instrument [Line Items]
Redemption price percentages	104.063%
2016 [Member]
Debt Instrument [Line Items]
Redemption price percentages	102.031%
2017 and thereafter [Member]
Debt Instrument [Line Items]
Redemption price percentages	100.00%

Net Income (Loss) per Share - N

Net Income (Loss) per Share - Narrative (Details) - shares	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Number of shares issued or committed for issuance under outstanding stock options	8,643,375	9,111,725
Number of shares of restricted stock and shares reserved for restricted stock units outstanding	1,363,534	1,386,336

Net Income (Loss) per Share - B

Net Income (Loss) per Share - Basic and Diluted Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income (loss) attributable to ION	$ (20,383)	$ (24,541)	$ (19,578)	$ 52,626
Weighted average number of common shares outstanding (in shares)	164,755	164,149	164,672	164,021
Effect of dilutive stock awards (in shares)	0	0	0	305
Weighted average number of diluted common shares outstanding (in shares)	164,755	164,149	164,672	164,326
Basic net income (loss) per share (in dollars per share)	$ (0.12)	$ (0.15)	$ (0.12)	$ 0.32
Diluted net income (loss) per share (in dollars per share)	$ (0.12)	$ (0.15)	$ (0.12)	$ 0.32

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Loss Carryforwards [Line Items]
Effective income tax rates	(11.50%)	(50.30%)	(22.10%)	20.90%
Income tax expense	$ 2,082,000	$ 8,345,000	$ 3,597,000	$ 14,261,000
Unrecognized tax benefits	1,200,000		1,200,000
United States Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net deferred tax assets	$ 0		$ 0

Litigation (Details)

Litigation (Details) - WesternGeco [Member] $ in Millions	Oct. 30, 2015	May. 31, 2014USD ($)	Apr. 30, 2014USD ($)	Oct. 31, 2013USD ($)	Aug. 31, 2012USD ($)	Jun. 30, 2009Patent	Jul. 02, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)
Litigation (Textual) [Abstract]
Number of patent apparatus claims contained | Patent						4
Settled Litigation [Member]
Litigation (Textual) [Abstract]
Total damages awarded		$ 123.8	$ 9.4	$ 73.1	$ 105.9
Reduction in damages award in the case			$ (3)
Prejudgment interest expense accrued							$ 10.9
Accrual for loss contingency related to legal proceedings								$ 22	$ 124
Settled Litigation [Member] | Subsequent event [Member]
Litigation (Textual) [Abstract]
Number Of Days To Request Writ To Review Case	90 days
Settled Litigation [Member] | Lost Royalties [Member]
Litigation (Textual) [Abstract]
Total damages awarded					12.5
Settled Litigation [Member] | Lost Profits [Member]
Litigation (Textual) [Abstract]
Total damages awarded					$ 93.4

Other Income (Expense), Net - S

Other Income (Expense), Net - Summary of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Income and Expenses [Abstract]
Reductions of loss contingency related to legal proceedings (Footnote 7)	$ 0	$ 0	$ 101,978	$ 69,557
Facility restructuring charges (Footnote 2)	296	0	(2,791)	0
Gain on sale of product line	0	0	0	6,522
Other expense, net	(642)	(622)	(1,152)	(2,109)
Total other income, net	$ (346)	$ (622)	$ 98,035	$ 73,970

Other Income (Expense), Net - D

Other Income (Expense), Net - Disposal of Product Line (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Net proceeds from sale of Source product line				$ 0	$ 14,394
Gain on sale of Source product line		$ 0	$ 0	$ 0	$ 6,522
Systems [Member]
Segment Reporting Information [Line Items]
Net proceeds from sale of Source product line	$ 14,400
Gain on sale of Source product line	6,500
Reduction due to sale of Source product line	$ 5,100

Details of Selected Balance S48

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials and subassemblies	$ 36,530	$ 41,461
Work-in-process	6,467	18,221
Finished goods	16,213	21,284
Reserve for excess and obsolete inventories	(24,527)	(29,804)
Total	34,683	$ 51,162
Inventory adjustments	$ (5,300)

Details of Selected Balance S49

Details of Selected Balance Sheet Accounts - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Accrual for loss contingency related to legal proceedings (Footnote 7)	$ 22,000	$ 123,770
Deferred rents	13,397	13,416
Facility restructuring accrual	3,298	3,353
Other long-term liabilities	1,135	3,265
Total	$ 39,830	$ 143,804

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive loss at December 31, 2014			$ (12,807)
Net current-period other comprehensive income (loss)	$ (1,365)	$ (1,866)	(757)	$ (582)
Accumulated other comprehensive loss at September 30, 2015	(13,564)		(13,564)
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive loss at December 31, 2014			(12,807)
Net current-period other comprehensive income (loss)			(757)
Accumulated other comprehensive loss at September 30, 2015	$ (13,564)		$ (13,564)

Supplemental Cash Flow Inform51

Supplemental Cash Flow Information and Non-Cash Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash paid during the period for:
Interest	$ 8,036	$ 9,087
Income taxes	7,614	12,008
Non-cash items from investing and financing activities:
Purchases of computer equipment financed through capital leases	1,178	5,768
Investment in multi-client data library financed through accounts payable	13,617	1,298
Conversion of investment in a convertible note to equity	0	3,151
Transfer of inventory to property, plant, equipment and seismic rental equipment	15,936	3,039
Segment Reporting Information [Line Items]
Purchase of property, plant, equipment and seismic rental assets	17,601	$ 6,842
Ocean Bottom Services Segment [Member]
Segment Reporting Information [Line Items]
Purchase of property, plant, equipment and seismic rental assets	$ 14,300

Acquisition of OceanGeo - Pro F

Acquisition of OceanGeo - Pro Forma Income Statement Information (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2014USD ($)$ / shares
Business Combinations [Abstract]
Net revenues	$ 381,902
Income (loss) from operations	22,492
Net income (loss)	55,838
Net income (loss) attributable to ION	$ 53,684
Basic and diluted net income (loss) per common share, in dollars per share | $ / shares	$ 0.33

Fair Value of Financial Instr53

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Carrying value of long-term debt	$ 186,278	$ 190,594
Fair value of long-term debt	$ 108,900	$ 162,600

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - Stock Appreciation Rights (SARs) [Member] $ / shares in Units, $ in Millions	Mar. 01, 2015individual$ / sharesshares	Sep. 30, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of SARs issued | shares	3,108,107
Number of individuals received SARs | individual	16
Exercise price of SARs	$ 2.28
Vesting period of SARs	4 years
Number of days weighted average price of common stock must be greater than a percentage of exercise price of SARs	20 days
Annual vesting percentage	33.33%
Share-based compensation expense | $		$ 0.6
Phase one [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that weighted average price of common stock must be greater than exercise price of SARs	120.00%
Annual vesting percentage	33.33%
Phase two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that weighted average price of common stock must be greater than exercise price of SARs	125.00%
Annual vesting percentage	33.33%
Phase three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that weighted average price of common stock must be greater than exercise price of SARs	130.00%
Annual vesting percentage	33.33%

Stock-based Compensation - Valu

Stock-based Compensation - Valuation Assumptions (Details)	Mar. 01, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rates	2.03%
Expected lives (in years)	2 years 8 months 9 days
Expected dividend yield	0.00%
Expected volatility	60.27%

Related Party Transactions (Det

Related Party Transactions (Details) - BGP Joint Venture [Member] - Co-venturer [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Property Subject to or Available for Operating Lease [Line Items]
Company's outstanding common stock owned by BGP, percent	14.40%
Related party transaction, revenues from transactions with related party	$ 5.2	$ 5.1

Condensed Consolidating Finan57

Condensed Consolidating Financial Information - Narrative (Details) - USD ($)	May. 31, 2013	May. 13, 2013
Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Principal amount of debt	$ 175,000,000	$ 175,000,000

Condensed Consolidating Finan58

Condensed Consolidating Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 88,239	$ 173,608	$ 129,847	$ 148,056
Accounts receivable, net	21,587	114,325
Unbilled receivables	32,387	22,599
Inventories	34,683	51,162
Prepaid expenses and other current assets	10,124	13,662
Total current assets	187,020	375,356
Deferred income tax asset	5,706	8,604
Property, plant, equipment and seismic rental equipment, net	77,081	69,840
Multi-client data library, net	135,907	118,669
Investment in subsidiaries	0	0
Goodwill	26,809	27,388
Intangible assets, net	5,306	6,788
Intercompany receivables	0	0
Other assets	9,380	10,612
Total assets	447,209	617,257
Current liabilities:
Current maturities of long-term debt	6,612	7,649
Accounts payable	27,950	36,863
Accrued expenses	54,302	65,264
Accrued multi-client data library royalties	12,443	35,219
Deferred revenue	5,575	8,262
Total current liabilities	106,882	153,257
Long-term debt, net of current maturities	179,666	182,945
Intercompany payables	0	0
Other long-term liabilities	39,830	143,804
Total liabilities	326,378	480,006
Redeemable noncontrolling interests	1,200	1,539
Stockholders’ equity:
Common stock	1,648	1,645
Additional paid-in capital	892,007	887,749
Accumulated earnings (deficit)	(753,987)	(734,409)
Accumulated other comprehensive income (loss)	(13,564)	(12,807)
Due from ION Geophysical Corporation	0	0
Treasury stock	(6,565)	(6,565)
Total stockholders' equity	119,539	135,613
Noncontrolling interests	92	99
Total equity	119,631	135,712
Total liabilities and equity	447,209	617,257
Reportable Legal Entities [Member] | ION Geophysical Corporation [Member]
Current assets:
Cash and cash equivalents	25,470	109,514	84,294	124,701
Accounts receivable, net	6	123
Unbilled receivables	0	0
Inventories	0	0
Prepaid expenses and other current assets	2,638	6,692
Total current assets	28,114	116,329
Deferred income tax asset	0	(7,852)
Property, plant, equipment and seismic rental equipment, net	5,051	6,412
Multi-client data library, net	0	0
Investment in subsidiaries	684,815	675,499
Goodwill	0	0
Intangible assets, net	0	0
Intercompany receivables	78,982	29,979
Other assets	8,000	10,191
Total assets	804,962	830,558
Current liabilities:
Current maturities of long-term debt	0	0
Accounts payable	1,763	4,308
Accrued expenses	16,282	3,904
Accrued multi-client data library royalties	0	0
Deferred revenue	0	0
Total current liabilities	18,045	8,212
Long-term debt, net of current maturities	175,000	175,000
Intercompany payables	491,902	509,124
Other long-term liabilities	476	2,609
Total liabilities	685,423	694,945
Redeemable noncontrolling interests	0	0
Stockholders’ equity:
Common stock	1,648	1,645
Additional paid-in capital	892,007	887,749
Accumulated earnings (deficit)	(753,987)	(734,409)
Accumulated other comprehensive income (loss)	(13,564)	(12,807)
Due from ION Geophysical Corporation	0	0
Treasury stock	(6,565)	(6,565)
Total stockholders' equity	119,539	135,613
Noncontrolling interests	0	0
Total equity	119,539	135,613
Total liabilities and equity	804,962	830,558
Reportable Legal Entities [Member] | The Guarantors [Member]
Current assets:
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	11,017	49,892
Unbilled receivables	30,719	18,548
Inventories	12,578	4,013
Prepaid expenses and other current assets	1,971	2,697
Total current assets	56,285	75,150
Deferred income tax asset	8,296	6,675
Property, plant, equipment and seismic rental equipment, net	24,064	33,065
Multi-client data library, net	121,329	96,423
Investment in subsidiaries	232,637	278,294
Goodwill	0	0
Intangible assets, net	4,956	6,254
Intercompany receivables	0	0
Other assets	141	147
Total assets	447,708	496,008
Current liabilities:
Current maturities of long-term debt	6,533	6,965
Accounts payable	20,508	12,028
Accrued expenses	25,546	34,738
Accrued multi-client data library royalties	11,926	34,624
Deferred revenue	3,135	5,263
Total current liabilities	67,648	93,618
Long-term debt, net of current maturities	4,626	7,839
Intercompany payables	69,852	8,892
Other long-term liabilities	31,834	130,985
Total liabilities	173,960	241,334
Redeemable noncontrolling interests	0	0
Stockholders’ equity:
Common stock	290,460	290,460
Additional paid-in capital	180,700	180,700
Accumulated earnings (deficit)	224,206	208,846
Accumulated other comprehensive income (loss)	5,663	6,229
Due from ION Geophysical Corporation	(427,281)	(431,561)
Treasury stock	0	0
Total stockholders' equity	273,748	254,674
Noncontrolling interests	0	0
Total equity	273,748	254,674
Total liabilities and equity	447,708	496,008
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Current assets:
Cash and cash equivalents	62,769	64,094	$ 45,553	$ 23,355
Accounts receivable, net	10,564	64,310
Unbilled receivables	1,668	4,051
Inventories	22,105	47,149
Prepaid expenses and other current assets	6,160	8,769
Total current assets	103,266	188,373
Deferred income tax asset	200	749
Property, plant, equipment and seismic rental equipment, net	47,966	30,363
Multi-client data library, net	14,578	22,246
Investment in subsidiaries	0	0
Goodwill	26,809	27,388
Intangible assets, net	350	534
Intercompany receivables	0	0
Other assets	1,239	274
Total assets	194,408	269,927
Current liabilities:
Current maturities of long-term debt	79	684
Accounts payable	5,679	20,527
Accrued expenses	12,526	21,807
Accrued multi-client data library royalties	517	595
Deferred revenue	2,440	2,999
Total current liabilities	21,241	46,612
Long-term debt, net of current maturities	40	106
Intercompany payables	9,130	21,087
Other long-term liabilities	10,904	10,489
Total liabilities	41,315	78,294
Redeemable noncontrolling interests	1,200	1,539
Stockholders’ equity:
Common stock	19,138	19,138
Additional paid-in capital	234,234	234,234
Accumulated earnings (deficit)	(23,589)	26,981
Accumulated other comprehensive income (loss)	(13,361)	(12,795)
Due from ION Geophysical Corporation	(64,621)	(77,563)
Treasury stock	0	0
Total stockholders' equity	151,801	189,995
Noncontrolling interests	92	99
Total equity	151,893	190,094
Total liabilities and equity	194,408	269,927
Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0
Accounts receivable, net	0	0
Unbilled receivables	0	0
Inventories	0	0
Prepaid expenses and other current assets	(645)	(4,496)
Total current assets	(645)	(4,496)
Deferred income tax asset	(2,790)	9,032
Property, plant, equipment and seismic rental equipment, net	0	0
Multi-client data library, net	0	0
Investment in subsidiaries	(917,452)	(953,793)
Goodwill	0	0
Intangible assets, net	0	0
Intercompany receivables	(78,982)	(29,979)
Other assets	0	0
Total assets	(999,869)	(979,236)
Current liabilities:
Current maturities of long-term debt	0	0
Accounts payable	0	0
Accrued expenses	(52)	4,815
Accrued multi-client data library royalties	0	0
Deferred revenue	0	0
Total current liabilities	(52)	4,815
Long-term debt, net of current maturities	0	0
Intercompany payables	(570,884)	(539,103)
Other long-term liabilities	(3,384)	(279)
Total liabilities	(574,320)	(534,567)
Redeemable noncontrolling interests	0	0
Stockholders’ equity:
Common stock	(309,598)	(309,598)
Additional paid-in capital	(414,934)	(414,934)
Accumulated earnings (deficit)	(200,617)	(235,827)
Accumulated other comprehensive income (loss)	7,698	6,566
Due from ION Geophysical Corporation	491,902	509,124
Treasury stock	0	0
Total stockholders' equity	(425,549)	(444,669)
Noncontrolling interests	0	0
Total equity	(425,549)	(444,669)
Total liabilities and equity	$ (999,869)	$ (979,236)

Condensed Consolidating Finan59

Condensed Consolidating Financial Information - Condensed Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Income Statements, Captions [Line Items]
Net revenues	$ 66,674	$ 106,540	$ 144,047	$ 372,718
Cost of sales	55,566	77,317	158,862	248,413
Gross profit (loss)	11,108	29,223	(14,815)	124,305
Total operating expenses	23,982	34,572	85,437	106,198
Income (loss) from operations	(12,874)	(5,349)	(100,252)	18,107
Interest expense, net	(4,854)	(5,048)	(14,086)	(14,779)
Intercompany interest, net	0	0	0	0
Equity in losses of investments	0	(5,558)	0	(9,027)
Other income (expense)	(346)	(622)	98,035	73,970
Income (loss) before income taxes	(18,074)	(16,577)	(16,303)	68,271
Income tax expense (benefit)	2,082	8,345	3,597	14,261
Net income (loss)	(20,156)	(24,922)	(19,900)	54,010
Net (income) loss attributable to noncontrolling interests	(227)	381	322	(1,384)
Net income (loss) attributable to ION	(20,383)	(24,541)	(19,578)	52,626
Comprehensive net income (loss)	(21,521)	(26,788)	(20,657)	53,428
Comprehensive (income) loss attributable to noncontrolling interest	(227)	381	322	(1,384)
Comprehensive net income (loss) attributable to ION	(21,748)	(26,407)	(20,335)	52,044
Reportable Legal Entities [Member] | ION Geophysical Corporation [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	0	0	0	0
Cost of sales	0	0	0	0
Gross profit (loss)	0	0	0	0
Total operating expenses	3,914	7,599	18,296	24,138
Income (loss) from operations	(3,914)	(7,599)	(18,296)	(24,138)
Interest expense, net	(4,769)	(4,931)	(13,826)	(13,962)
Intercompany interest, net	184	(90)	466	(234)
Equity in losses of investments	(14,248)	(12,131)	9,881	92,195
Other income (expense)	326	(17)	268	(1,231)
Income (loss) before income taxes	(22,421)	(24,768)	(21,507)	52,630
Income tax expense (benefit)	(2,038)	(227)	(1,929)	4
Net income (loss)	(20,383)	(24,541)	(19,578)	52,626
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	(20,383)	(24,541)	(19,578)	52,626
Comprehensive net income (loss)	(21,748)	(26,407)	(20,335)	52,044
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(21,748)	(26,407)	(20,335)	52,044
Reportable Legal Entities [Member] | The Guarantors [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	41,768	33,344	83,082	159,347
Cost of sales	31,712	32,447	84,715	117,461
Gross profit (loss)	10,056	897	(1,633)	41,886
Total operating expenses	11,266	15,357	37,151	45,938
Income (loss) from operations	(1,210)	(14,460)	(38,784)	(4,052)
Interest expense, net	(107)	(58)	(279)	(148)
Intercompany interest, net	(806)	566	(2,208)	1,519
Equity in losses of investments	(12,141)	8,500	(45,091)	32,615
Other income (expense)	(9)	21	101,961	73,504
Income (loss) before income taxes	(14,273)	(5,431)	15,599	103,438
Income tax expense (benefit)	65	800	239	999
Net income (loss)	(14,338)	(6,231)	15,360	102,439
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	(14,338)	(6,231)	15,360	102,439
Comprehensive net income (loss)	(15,543)	(8,838)	14,794	102,957
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(15,543)	(8,838)	14,794	102,957
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	25,072	73,947	61,972	215,400
Cost of sales	24,020	45,621	75,154	132,981
Gross profit (loss)	1,052	28,326	(13,182)	82,419
Total operating expenses	8,802	11,616	29,990	36,122
Income (loss) from operations	(7,750)	16,710	(43,172)	46,297
Interest expense, net	22	(59)	19	(669)
Intercompany interest, net	622	(476)	1,742	(1,285)
Equity in losses of investments	0	0	0	738
Other income (expense)	(663)	(626)	(4,194)	1,697
Income (loss) before income taxes	(7,769)	15,549	(45,605)	46,778
Income tax expense (benefit)	4,055	7,772	5,287	13,258
Net income (loss)	(11,824)	7,777	(50,892)	33,520
Net (income) loss attributable to noncontrolling interests	(227)	381	322	(1,384)
Net income (loss) attributable to ION	(12,051)	8,158	(50,570)	32,136
Comprehensive net income (loss)	(12,940)	5,168	(51,458)	34,024
Comprehensive (income) loss attributable to noncontrolling interest	(227)	381	322	(1,384)
Comprehensive net income (loss) attributable to ION	(13,167)	5,549	(51,136)	32,640
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	(166)	(751)	(1,007)	(2,029)
Cost of sales	(166)	(751)	(1,007)	(2,029)
Gross profit (loss)	0	0	0	0
Total operating expenses	0	0	0	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 losses of investments	26,389	(1,927)	35,210	(134,575)
Other income (expense)	0	0	0	0
Income (loss) before income taxes	26,389	(1,927)	35,210	(134,575)
Income tax expense (benefit)	0	0	0	0
Net income (loss)	26,389	(1,927)	35,210	(134,575)
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	26,389	(1,927)	35,210	(134,575)
Comprehensive net income (loss)	28,710	3,289	36,342	(135,597)
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	$ 28,710	$ 3,289	$ 36,342	$ (135,597)

Condensed Consolidating Finan60

Condensed Consolidating Financial Information - Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ (35,996)	$ 86,976
Cash flows from investing activities:
Cash invested in multi-client data library	(28,152)	(57,340)
Purchase of property, plant, equipment and seismic rental equipment	(17,601)	(6,842)
Repayment of advances to INOVA Geophysical	0	1,000
Net investment in and advances to OceanGeo B.V. prior to its consolidation	0	(3,074)
Net proceeds from sale of Source product line	0	14,394
Other investing activities	1,262	928
Net cash used in investing activities	(44,491)	(50,934)
Cash flows from financing activities:
Payments under revolving line of credit	0	(50,000)
Borrowings under revolving line of credit	0	15,000
Payments on notes payable and long-term debt	(5,431)	(11,737)
Cost associated with issuance of notes	(146)	(2,126)
Intercompany lending	0	0
Acquisition of non-controlling interest		(6,000)
Other financing activities	(52)	423
Net cash used in financing activities	(5,483)	(54,440)
Effect of change in foreign currency exchange rates on cash and cash equivalents	601	189
Net decrease in cash and cash equivalents	(85,369)	(18,209)
Cash and cash equivalents at beginning of period	173,608	148,056
Cash and cash equivalents at end of period	88,239	129,847
Reportable Legal Entities [Member] | ION Geophysical Corporation [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(414,473)	(40,896)
Cash flows from investing activities:
Cash invested in multi-client data library	0	0
Purchase of property, plant, equipment and seismic rental equipment	(347)	(1,501)
Repayment of advances to INOVA Geophysical		1,000
Net investment in and advances to OceanGeo B.V. prior to its consolidation		0
Net proceeds from sale of Source product line		0
Other investing activities	0	579
Net cash used in investing activities	(347)	78
Cash flows from financing activities:
Payments under revolving line of credit		(50,000)
Borrowings under revolving line of credit		15,000
Payments on notes payable and long-term debt	0	0
Cost associated with issuance of notes		(2,126)
Intercompany lending	330,828	37,114
Acquisition of non-controlling interest		0
Other financing activities	(52)	423
Net cash used in financing activities	330,776	411
Effect of change in foreign currency exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(84,044)	(40,407)
Cash and cash equivalents at beginning of period	109,514	124,701
Cash and cash equivalents at end of period	25,470	84,294
Reportable Legal Entities [Member] | The Guarantors [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	173,725	63,588
Cash flows from investing activities:
Cash invested in multi-client data library	(27,282)	(57,192)
Purchase of property, plant, equipment and seismic rental equipment	(1,162)	(4,165)
Repayment of advances to INOVA Geophysical		0
Net investment in and advances to OceanGeo B.V. prior to its consolidation		0
Net proceeds from sale of Source product line		9,881
Other investing activities	1,262	0
Net cash used in investing activities	(27,182)	(51,476)
Cash flows from financing activities:
Payments under revolving line of credit		0
Borrowings under revolving line of credit		0
Payments on notes payable and long-term debt	(4,798)	(4,470)
Cost associated with issuance of notes		0
Intercompany lending	(141,745)	(7,642)
Acquisition of non-controlling interest		0
Other financing activities	0	0
Net cash used in financing activities	(146,543)	(12,112)
Effect of change in foreign currency exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	204,752	64,284
Cash flows from investing activities:
Cash invested in multi-client data library	(870)	(148)
Purchase of property, plant, equipment and seismic rental equipment	(16,092)	(1,176)
Repayment of advances to INOVA Geophysical		0
Net investment in and advances to OceanGeo B.V. prior to its consolidation		(3,074)
Net proceeds from sale of Source product line		4,513
Other investing activities	0	349
Net cash used in investing activities	(16,962)	464
Cash flows from financing activities:
Borrowings under revolving line of credit		0
Payments on notes payable and long-term debt	(633)	(7,267)
Cost associated with issuance of notes		0
Intercompany lending	(189,083)	(29,472)
Acquisition of non-controlling interest		(6,000)
Other financing activities	0	0
Net cash used in financing activities	(189,716)	(42,739)
Effect of change in foreign currency exchange rates on cash and cash equivalents	601	189
Net decrease in cash and cash equivalents	(1,325)	22,198
Cash and cash equivalents at beginning of period	64,094	23,355
Cash and cash equivalents at end of period	62,769	$ 45,553
Consolidation, Eliminations [Member]
Cash flows from financing activities:
Cash and cash equivalents at beginning of period	0
Cash and cash equivalents at end of period	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Nov. 05, 2015USD ($)
Subsequent event [Member]
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 25,000,000