Ion Geophysical (IOGPQ) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 25, 2016
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	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,786,220

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) $ in Thousands, € in Millions	Jun. 30, 2016EUR (€)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Current assets:
Cash and cash equivalents		$ 52,433	$ 84,933	$ 117,060	$ 173,608
Accounts receivable, net		20,094	44,365
Unbilled receivables		22,011	19,937
Inventories		34,377	32,721
Prepaid expenses and other current assets		17,461	14,807
Total current assets		146,376	196,763
Property, plant, equipment and seismic rental equipment, net		58,412	72,027
Multi-client data library, net		118,547	132,237
Goodwill	€ 15.7	24,025	26,274
Intangible assets, net		3,947	4,810
Other assets		2,514	2,977
Total assets		353,821	435,088
Current liabilities:
Current maturities of long-term debt		20,371	7,912
Accounts payable		26,969	29,799
Accrued expenses		27,284	34,287
Accrued multi-client data library royalties		23,473	25,045
Deferred revenue		7,666	6,560
Total current liabilities		105,763	103,603
Long-term debt, net of current maturities		145,130	175,080
Other long-term liabilities		44,051	44,365
Total liabilities		294,944	323,048
Equity:
Common stock, $0.01 par value; authorized 26,666,667 shares; outstanding 11,786,220 and 10,702,689 shares at June 30, 2016 and December 31, 2015, respectively, net of treasury stock		118	107
Additional paid-in capital		897,476	894,715
Accumulated deficit		(819,887)	(759,531)
Accumulated other comprehensive loss		(18,980)	(14,781)
Treasury stock, at cost, zero and 353,124 shares at June 30, 2016 and December 31, 2015 respectively		0	(8,551)
Total stockholders' equity		58,727	111,959
Noncontrolling interest		150	81
Total equity		58,877	112,040
Total liabilities and equity		$ 353,821	$ 435,088

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	26,666,667	26,666,667
Common stock, shares outstanding	11,786,220	10,702,689
Treasury stock, shares	0	353,124

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Service revenues	$ 25,430	$ 23,323	$ 38,586	$ 43,403
Product revenues	10,722	13,472	20,231	33,970
Total net revenues	36,152	36,795	58,817	77,373
Cost of services	27,175	38,817	53,012	84,351
Cost of products	4,124	8,113	9,882	18,945
Gross profit (loss)	4,853	(10,135)	(4,077)	(25,923)
Operating expenses:
Research, development and engineering	4,761	7,239	10,370	14,959
Marketing and sales	4,684	8,638	8,694	16,471
General, administrative and other operating expenses	11,996	14,677	23,576	30,025
Total operating expenses	21,441	30,554	42,640	61,455
Loss from operations	(16,588)	(40,689)	(46,717)	(87,378)
Interest expense, net	(4,702)	(4,607)	(9,436)	(9,232)
Other income (expense), net	(1,717)	101,600	(1,597)	98,381
Income (loss) before income taxes	(23,007)	56,304	(57,750)	1,771
Income tax expense, net	2,256	532	2,549	1,515
Net income (loss)	(25,263)	55,772	(60,299)	256
Net (income) loss attributable to noncontrolling interests	(79)	297	(57)	549
Net income (loss) attributable to ION	$ (25,342)	$ 56,069	$ (60,356)	$ 805
Net income (loss) per share:
Basic, in dollars per share	$ (2.22)	$ 5.11	$ (5.48)	$ 0.07
Diluted, in dollars per share	$ (2.22)	$ 5.11	$ (5.48)	$ 0.07
Weighted average number of common shares outstanding:
Basic, in shares	11,415	10,979	11,008	10,975
Diluted, in shares	11,415	10,980	11,008	10,977

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (25,263)	$ 55,772	$ (60,299)	$ 256
Other comprehensive income (loss), net of taxes, as appropriate:
Foreign currency translation adjustments	(2,737)	1,953	(4,199)	608
Total other comprehensive income (loss), net of taxes	(2,737)	1,953	(4,199)	608
Comprehensive net income (loss)	(28,000)	57,725	(64,498)	864
Comprehensive (income) loss attributable to noncontrolling interest	(79)	297	(57)	549
Comprehensive net income (loss) attributable to ION	$ (28,079)	$ 58,022	$ (64,555)	$ 1,413

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (60,299)	$ 256
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization (other than multi-client data library)	11,416	13,015
Amortization of multi-client data library	14,244	10,440
Stock-based compensation expense	1,610	3,047
Reduction of accrual for loss contingency related to legal proceedings	0	(101,978)
Loss on extinguishment of debt	2,182	0
Deferred income taxes	381	(24)
Change in operating assets and liabilities:
Accounts receivable	23,980	87,796
Unbilled receivables	(2,042)	9,198
Inventories	1,329	(739)
Accounts payable, accrued expenses and accrued royalties	(5,518)	(40,649)
Deferred revenue	1,151	2,405
Other assets and liabilities	(773)	(5,262)
Net cash used in operating activities	(12,339)	(22,495)
Cash flows from investing activities:
Cash invested in multi-client data library	(8,648)	(13,598)
Purchase of property, plant, equipment and seismic rental assets	(340)	(17,213)
Other investing activities	0	257
Net cash used in investing activities	(8,988)	(30,554)
Cash flows from financing activities:
Borrowings under revolving line of credit	15,000	0
Repurchase of common stock	(964)	0
Payments on notes payable and long-term debt	(4,786)	(3,560)
Costs associated with issuance of debt	(6,174)	0
Payment to repurchase bonds	(15,000)	0
Other financing activities	13	22
Net cash used in financing activities	(11,911)	(3,538)
Effect of change in foreign currency exchange rates on cash and cash equivalents	738	39
Net decrease in cash and cash equivalents	(32,500)	(56,548)
Cash and cash equivalents at beginning of period	84,933	173,608
Cash and cash equivalents at end of period	$ 52,433	$ 117,060

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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, 2015 has been derived from the Company’s audited consolidated financial statements at that date. The condensed consolidated balance sheet at June 30, 2016, and the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2016 and 2015 and the condensed consolidated statements of cash flows for the six months ended June 30, 2016 and 2015, are unaudited. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The share numbers have been retroactively adjusted to reflect the one-for-fifteen reverse stock split completed on February 4, 2016. The results of operations for the three and six months ended June 30, 2016 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, 2015 and on Form 10-K/A Amendment No. 2, which was filed on June 27, 2016 and contains the separate consolidated financial statements of INOVA Geophysical Equipment Limited (“INOVA Geophysical”) for its fiscal year ended December 31, 2015.

Restructurings and Special Item

Restructurings and Special Items	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructurings and Special Items	Restructurings and Special Items 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”) 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 activities to production-related activities on existing assets. Because seismic spending is discretionary, E&P companies have disproportionately cut their spending on seismic-related services and products. In April, 2016, the Company implemented additional cost saving initiatives by reducing its current workforce by over 12% . Additional reductions were needed to further streamline the organization and bring it in line with the Company’s current revenue stream, while maintaining the necessary core capabilities to continue our operations and strategic initiatives. During the three and six months ended June 30, 2016, the Company recognized the following pre-tax charges (in thousands): Severance Charges (a) Loss on Bond Exchange (b) Total Cost of goods sold $ 1,077 $ — $ 1,077 Operating expenses 932 — 932 Other expense — 2,182 2,182 Consolidated total $ 2,009 $ 2,182 $ 4,191 (a) Represents severance charges related to the second quarter 2016 restructurings. (b) Represents a loss on exchange of bonds during the second quarter 2016.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
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. On August 4, 2016, the Company announced it plans to realign its four business segments into three . See further discussion at Footnote 18 “Subsequent Event” of Footnotes to Consolidated Financial Statements.” The following table is a summary of segment information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net revenues: Solutions: New Venture $ 4,579 $ 3,636 $ 7,885 $ 8,665 Data Library 6,275 7,509 10,547 9,646 Total multi-client revenues 10,854 11,145 18,432 18,311 Data Processing 7,764 11,205 13,204 23,038 Total $ 18,618 $ 22,350 $ 31,636 $ 41,349 Systems $ 6,626 $ 7,674 $ 11,985 $ 20,443 Software: Software Systems $ 4,096 $ 5,798 $ 8,246 $ 13,527 Services 379 973 517 2,054 Total $ 4,475 $ 6,771 $ 8,763 $ 15,581 Ocean Bottom Services $ 6,433 $ — $ 6,433 $ — Total $ 36,152 $ 36,795 $ 58,817 $ 77,373 Gross profit (loss): Solutions $ (3,533 ) $ (7,856 ) $ (13,306 ) $ (18,248 ) Systems 1,358 1,500 2,721 6,059 Software 2,761 4,208 5,287 9,798 Ocean Bottom Services 4,267 (7,987 ) 1,221 (23,532 ) Total $ 4,853 $ (10,135 ) $ (4,077 ) $ (25,923 ) Gross margin: Solutions (19 )% (35 )% (42 )% (44 )% Systems 20 % 20 % 23 % 30 % Software 62 % 62 % 60 % 63 % Ocean Bottom Services 66 % — % 19 % — % Total 13 % (28 )% (7 )% (34 )% Income (loss) from operations: Solutions $ (8,649 ) $ (19,756 ) $ (24,126 ) $ (41,534 ) Systems (1,843 ) (2,379 ) (4,352 ) (1,365 ) Software 899 2,095 1,895 5,430 Ocean Bottom Services 2,884 (10,008 ) (1,330 ) (27,567 ) Corporate and other (9,879 ) (10,641 ) (18,804 ) (22,342 ) Loss from operations (16,588 ) (40,689 ) (46,717 ) (87,378 ) Interest expense, net (4,702 ) (4,607 ) (9,436 ) (9,232 ) Other income (expense), net (1,717 ) 101,600 (1,597 ) 98,381 Income (loss) before income taxes $ (23,007 ) $ 56,304 $ (57,750 ) $ 1,771

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The following table is a summary of long-term debt obligations, net (in thousands): Obligations (in thousands) June 30, 2016 December 31, 2015 Senior secured second-priority notes (maturing December 15, 2021) $ 120,569 $ — Senior secured third-priority notes (maturing May 15, 2018) 28,497 175,000 Revolving line of credit 15,000 — Equipment capital leases 6,068 9,762 Other debt 685 1,558 Costs associated with issuances of debt (1) (5,318 ) (3,328 ) Total 165,501 182,992 Current portion of long-term debt and lease obligations (20,371 ) (7,912 ) Non-current portion of long-term debt and lease obligations $ 145,130 $ 175,080 (1) Represents debt issuance costs presented as a direct deduction from the carrying amount of the associated debt liability. 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 ”), and together with the Company, collectively, the “Borrowers”) entered into a Revolving Credit and Security Agreement with PNC Bank, National Association (“PNC”), as agent (the “Original Credit Agreement”), which was amended by the First Amendment to Revolving Credit and Security Agreement in August 2015 (the “First Amendment”) and the Second Amendment (as defined below) (the Original Credit Agreement, as amended by the First Amendment, and the Second Amendment, the “ Credit Facility ”). For a complete discussion of the terms, available credit and security of this Credit Facility , prior to the effectiveness of the Second Amendment, see Footnote 4 to the Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . The Credit Facility is available to provide for the Borrowers’ general corporate needs, including working capital requirements, capital expenditures, surety deposits and acquisition financing. The maximum amount of the revolving line of credit under the Credit Facility is the lesser of $40.0 million or a monthly borrowing base (which may be recalculated more frequently under certain circumstances). On April 28, 2016, the Borrowers and PNC entered into a second amendment (the “Second Amendment”) to the Credit Facility. The Second Amendment, among other things: • increases the applicable margin for loans by 0.50% per annum (from 2.50% per annum to 3.00% per annum for alternate base rate loans and from 3.50% per annum to 4.00% per annum for LIBOR-based loans); • increases the minimum excess availability threshold to avoid triggering the agent’s rights to exercise dominion over cash and deposit accounts and increases certain of the thresholds upon which such dominion ceases; • increases the minimum liquidity threshold to avoid triggering the Company’s obligation to calculate and comply with the existing fixed charge coverage ratio and increases certain of the thresholds upon which such required calculation and compliance cease; • establishes a reserve that reduces the amount available to be borrowed by the aggregate amount owing under all Third Lien Notes that remain outstanding (if any) on or after February 14, 2018 (i.e., 90 days prior to the stated maturity of the Third Lien Notes); • increases the maximum amount of certain permitted junior indebtedness to $200.0 million (from $ 175.0 million ); • incorporates technical and conforming changes to reflect that the Second Lien Notes and the remaining Third Lien Notes (and any permitted refinancing thereof or subsequently incurred replacement indebtedness meeting certain requirements) constitute permitted indebtedness; • clarifies the circumstances and mechanics under which the Company may prepay, repurchase or redeem the Second Lien Notes, the remaining Third Lien Notes and certain other junior indebtedness; • modifies the cross-default provisions to incorporate defaults under the Second Lien Notes, the remaining Third Lien Notes and certain other junior indebtedness; and • eliminates the potential early commitment termination date and early maturity date that would otherwise have occurred ninety ( 90 ) days prior the maturity date of the Third Lien Notes if any of the Third Lien Notes then remained outstanding. The borrowing base under the Credit Facility will increase or decrease monthly using a formula based on certain eligible receivables, eligible inventory and other amounts, including a percentage of the net orderly liquidation value of the Borrowers’ multi-client data library (not to exceed $15.0 million for the multi-client data library data component). As of June 30, 2016, the borrowing base under the Credit Facility was $26.9 million , and there was $15.0 million of indebtedness under the Credit Facility. The Credit Facility is scheduled to mature on August 22, 2019. The obligations of Borrowers under the Credit Facility are secured by a first-priority security interest in 100% of the stock of the Subsidiary Borrowers and 65% of the equity interest in ION International Holdings L.P. and by substantially all other assets of the Borrowers. The Credit Facility contains covenants that, among other things, limit or prohibit the Borrowers, subject to certain exceptions and qualifications, from incurring additional indebtedness (including capital lease obligations), repurchasing equity, paying dividends or distributions, granting or incurring additional liens on the Borrowers’ properties, pledging shares of the Borrowers’ subsidiaries, entering into certain merger transactions, entering into transactions with the Company’s affiliates, making certain sales or other dispositions of the Borrowers’ assets, making certain investments, acquiring other businesses and entering into sale-leaseback transactions with respect to the Borrowers’ property. The Credit Facility, requires that 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) $7.5 million for five consecutive business days or (ii) $6.5 million on any given business day. Liquidity, as defined in the Credit Facility, is the Company’s excess availability to borrow ( $11.9 million at June 30, 2016) plus the aggregate amount of unrestricted cash held by ION, the Subsidiary Borrowers and their domestic subsidiaries. At June 30, 2016 , the Company was in compliance with all of the covenants under the Credit Facility. The Credit Facility contains customary event of default provisions (including a “change of control” event affecting ION), the occurrence of which could lead to an acceleration of the Company’s obligations under the Credit Facility as amended. Senior Secured Notes In May 2013, the Company sold $175.0 million aggregate principal amount of 8.125% Senior Secured Second-Priority Notes due 2018 ( the “Third Lien Notes ”) in a private offering pursuant to an Indenture dated as of May 13, 2013 (the Third Lien Notes Indenture”). Prior to the completion of the Exchange Offer (as defined below) and Consent Solicitation (as defined below) on April 28, 2016, the Third Lien Notes were senior secured second-priority obligations of the Company. After giving effect to the Exchange Offer and Consent Solicitation, the remaining aggregate principal amount of approximately $28.5 million of outstanding Third Lien Notes became senior secured third-priority obligations of the Company subordinated to the liens securing all senior and second priority indebtedness of the Company, including under the Credit Facility and Second-Priority Lien Notes (defined below). Pursuant to the Exchange Offer and Consent Solicitation, the Company (i) issued approximately $120.6 million in aggregate principal amount of the Company’s new 9.125% Senior Secured Second Priority Notes due 2021 (the “Second Lien Notes,” and collectively with the Third Lien Notes, the “Notes”) and 1,205,477 shares of the Company’s common stock in exchange for approximately $120.6 million in aggregate principal amount of Third Lien Notes, and (ii) purchased approximately $25.9 million in aggregate principal amount of Third Lien Notes in exchange for aggregate cash consideration totaling approximately $15.0 million , plus accrued and unpaid interest on the Third Lien Notes from the applicable last interest payment date to, but not including, April 28, 2016. After giving effect to the Exchange Offer and Consent Solicitation, the aggregate principal amount of the Third Lien Notes remaining outstanding was approximately $28.5 million and the aggregate principal amount of Second Lien Notes outstanding was approximately $120.6 million . See “ Exchange Offer ” below. The Third Lien Notes 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 Third Lien 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 Third Lien Notes exchanged their Third Lien Notes for a like principal amount of registered Third Lien Notes with the same terms. For a complete discussion of the terms and security the Third Lien Notes in effect prior to the completion of the Exchange Offer and Consent Solicitation on April 28, 2016, see Footnote 4 to the Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Prior to the completion of the Exchange Offer and Consent Solicitation, the Third Lien Notes Indenture contained certain covenants that, among other things, limited or prohibited 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 Third Lien 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 Third Lien Notes Indenture are subject to certain exceptions and qualifications. After giving effect to the Exchange Offer and Consent Solicitation, the Third Lien Notes Indenture was amended to, among other things, provide for the release of the second priority security interest in the collateral securing the remaining Third Lien Notes and the grant of a third priority security interest in the collateral, subordinate to liens securing all senior and second priority indebtedness of the Company, including the Credit Facility and the Second Lien Notes, and eliminate substantially all of the restrictive covenants and certain events of default pertaining to the remaining Third Lien Notes. As of June 30, 2016, the Company was in compliance with the covenants with respect to the Third Lien Notes. On or after May 15, 2015, the Company may on one or more occasions redeem all or a part of the Third Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Third Lien 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% The Second Lien Notes are senior secured second-priority obligations guaranteed by the Guarantors. The Second Lien Notes mature on December 15, 2021. Interest on the Second Lien Notes accrues at the rate of 9.125% per annum and is payable semiannually in arrears on June 15 and December 15 of each year during their term, beginning June 15, 2016, except that the interest payment otherwise payable on June 15, 2021 will be payable on December 15, 2021. The indenture dated April 28, 2016 governing the Second Lien Notes (the “Second Lien Notes Indenture”) contains certain covenants that, among other things, limits or prohibits 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 Second Lien 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 Second Lien Notes Indenture are subject to certain exceptions and qualifications. All of the Company’s subsidiaries are currently restricted subsidiaries. As of June 30, 2016, the Company was in compliance with the covenants with respect to the Second Lien Notes. On or after December 15, 2019, the Company may on one or more occasions redeem all or a part of the Second Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Second Lien Notes redeemed during the twelve-month period beginning on December 15th of the years indicated below: Date Percentage 2019 105.500% 2020 103.500% 2021 and thereafter 100.000% For additional information regarding the terms and security of the Third Lien Notes and related Third Lien Notes Indenture and intercreditor agreement in effect prior to the completion of the Exchange Offer and Consent Solicitation, see the Company’s Current Report on Form 8-K filed with the SEC on May 13, 2013. For additional information regarding the terms and security of the Third Lien Notes after giving effect to the Exchange Offer and Consent Solicitation, the amendments to the Third Lien Notes Indenture, the terms and security of the Second Lien Notes, the Second Lien Notes Indenture and the related intercreditor agreement, see the Company’s Current Report on Form 8-K filed with the SEC on April 28, 2016. Exchange Offer On April 28, 2016, the Company successfully completed the previously announced exchange offer (the “Exchange Offer”) and consent solicitation (the “Consent Solicitation”) related to the Third Lien Notes. The Company did not receive any cash proceeds in connection with the Exchange Offer and Consent Solicitation. Under the terms of the Exchange Offer, for each $1,000 principal amount of Third Lien Notes validly tendered for exchange and not validly withdrawn by an eligible holder (an “Exchange Participant”) prior to 11:59 P.M., New York City time, on April 25, 2016, and accepted for exchange by the Company, the Company offered the consideration (the “Exchange Consideration”) of (i) $1,000 principal amount of Second Lien Notes plus (ii) either (a) for Third Lien Notes tendered at or prior to 4:59 P.M., New York City time, on April 15, 2016 (the “Extended Early Tender Deadline”), ten ( 10 ) shares of the Company’s common stock (the “Early Stock Consideration”), or (b) for Third Lien Notes tendered after the Extended Early Tender Deadline, seven ( 7 ) shares of the Company’s common stock (the “Stock Consideration”) (such shares issued as the Early Stock Consideration or the Stock Consideration, together with the Second Lien Notes, the “Exchange Securities”), upon the terms and subject to the conditions set forth in the Company’s confidential Offer to Exchange and related Consent and Letter of Transmittal, each dated March 28, 2016 (the “Offer Documents”). As part of the Exchange Offer, each Exchange Participant had the opportunity to tender all or a portion of its Third Lien Notes for a cash payment in lieu of the Exchange Consideration upon the terms and subject to the conditions set forth in the Offer Documents (the “Cash Tender Option”). The aggregate amount of cash consideration that could be paid by the Company for tendered Third Lien Notes accepted for purchase pursuant to the Cash Tender Option was approximately $15.0 million plus accrued and unpaid interest to, but not including, the settlement date of the Exchange Offer (collectively, the “Cash Tender Cap”). Concurrently with the Exchange Offer, the Company solicited consents from eligible holders to proposed amendments to the Third Lien Notes Indenture (the “Proposed Amendments”). The Proposed Amendments, among other things, provide for the release of the second priority security interest in the collateral securing the Third Lien Notes and the grant of a third priority security interest in the collateral, subordinate to liens securing all the Company’s senior and second priority indebtedness, including the Credit Facility and the Second Lien Notes, and eliminate substantially all of the restrictive covenants and certain events of default pertaining to the Third Lien Notes. The Exchange Offer, including the Cash Tender Option, and the Consent Solicitation expired at 11:59 P.M., New York City time, on April 28, 2016. In total, the Company accepted for exchange approximately $146.5 million in aggregate principal amount of the Third Lien Notes, or approximately 83.72% of the $175 million outstanding aggregate principal amount of the Third Lien Notes, validly tendered and not withdrawn in the Exchange Offer. The Third Lien Notes validly tendered and not withdrawn in the Exchange Offer were accepted by the Company. Because the Company received the necessary consents to effect the Proposed Amendments, any Third Lien Notes not validly tendered pursuant to the Exchange Offer remain outstanding and the holders are subject to the terms of the supplemental indenture implementing the Proposed Amendments. No consideration was paid to holders of Third Lien Notes in connection with the Consent Solicitation. After giving effect to the Exchange Offer and Consent Solicitation, the aggregate principal amount of the Third Lien Notes remaining outstanding was approximately $28.5 million as of April 25, 2016, and such Third Lien Notes are secured on a third priority basis subordinated to the liens securing all senior and second priority indebtedness of the Company, including under the Credit Facility and Second Lien Notes. In exchange for approximately $120.6 million in aggregate principal amount of Third Lien Notes, the Company issued approximately $120.6 million aggregate principal amount of Second Lien Notes and 1,205,477 shares of common stock, including 1,204,980 shares issued as Early Stock Consideration and 497 shares issued as Stock Consideration. The Company utilized 508,464 of treasury shares towards the total 1,205,477 shares issued. The securities issued in the Exchange Offer were issued in reliance on an exemption from registration set forth in Section 4(a)(2) of the Securities Act. The Company received no cash consideration in exchange for the issuance of the Exchange Securities. The Cash Tender Option was fully subscribed. Pursuant to the terms of the Exchange Offer, the Company accepted for purchase tendered Third Lien Notes at the lowest bid prices until the Cash Tender Cap was reached, subject to proration. In exchange for aggregate cash consideration totaling approximately $15.0 million , the Company purchased approximately $25.9 million in aggregate principal amount of Third Lien Notes. The Company also paid in cash accrued and unpaid interest on Third Lien Notes accepted for purchase in the Exchange Offer from the applicable last interest payment date to, but not including, April 28, 2016.

Net Income (Loss) per Share

Net Income (Loss) per Share	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and 2015 was 900,623 and 621,443 , respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at June 30, 2016 and 2015 was 293,709 and 98,054 , respectively. The foregoing share numbers have been retroactively adjusted to reflect the one-for-fifteen reverse stock split completed on February 4, 2016. All outstanding stock options for the three and six months ended June 30, 2016 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income (loss) attributable to ION $ (25,342 ) $ 56,069 $ (60,356 ) $ 805 Weighted average number of common shares outstanding 11,415 10,979 11,008 10,975 Effect of dilutive stock awards — 1 — 2 Weighted average number of diluted common shares outstanding 11,415 10,980 11,008 10,977 Basic net income (loss) per share $ (2.22 ) $ 5.11 $ (5.48 ) $ 0.07 Diluted net income (loss) per share $ (2.22 ) $ 5.11 $ (5.48 ) $ 0.07

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 , the Company has no unreserved U.S. deferred tax assets. The provision for the six months ended June 30, 2016 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 June 30, 2016 and 2015 were (9.8)% and 0.9% , respectively, and for the six months ended June 30, 2016 and 2015 were (4.4)% and 85.5% respectively. The Company’s effective tax rates for the three and six months ended June 30, 2016 was impacted by the change in valuation allowance related to operating losses for which the Company cannot currently recognize a tax benefit. The Company’s income tax expense for the six months ended June 30, 2016 of $2.5 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 $1.3 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 June 30, 2016 , 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 2010 and subsequent years generally remain open to examination.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2016
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. On February 26, 2016, WesternGeco filed a petition for writ of certiorari by the Supreme Court. The Company filed its response on April 27, 2016. On June 20, 2016, the Supreme Court refused to disturb the Court of Appeals ruling finding no lost profits as a matter of law. Separately, in light of the changes in case law regarding the standard of proof for willfulness in the Halo and Stryker cases, the Supreme Court indicated that the case should be remanded to the Federal Circuit for a determination of whether or not the willfulness determination by the District Court was appropriate. On May 4, 2016, after referral from the district court, a Magistrate Judge issued an order and report and recommendation in the litigation. The order and report recommended entry of a final judgment against the Company on the royalty obligation plus interest, subject to final calculation upon entry of judgment, which is expected to be approximately $22 million and recommended the district court deny our motion to stay any obligation to pay the remaining $22 million that is not related to lost profits. The district court has not yet decided whether to adopt the recommendation of the magistrate. The Company will pursue all available objections and appeals to the order and report and recommendation. 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 has exchanged correspondence with the sureties in connection with this request. In July 2016, the sureties renewed their request for collateral and the Company is continuing to discuss terms and options with them. 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 (No

Other Income (Expense), Net (Notes)	6 Months Ended
	Jun. 30, 2016
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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Reductions of loss contingency related to legal proceedings (Footnote 7) $ — $ 101,978 $ — $ 101,978 Facility restructuring charges — — — (1,913 ) Loss on bond exchange (2,182 ) — (2,182 ) — Other income (expense), net 465 (378 ) 585 (1,684 ) Total other income (expense), net $ (1,717 ) $ 101,600 $ (1,597 ) $ 98,381

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2016
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): June 30, 2016 December 31, 2015 Raw materials and subassemblies $ 34,430 $ 34,949 Work-in-process 9,442 8,478 Finished goods 14,577 13,769 Reserve for excess and obsolete inventories (24,072 ) (24,475 ) Total $ 34,377 $ 32,721 Other Long-term Liabilities The following table is a summary of other long-term liabilities (in thousands): June 30, 2016 December 31, 2015 Accrual for loss contingency related to legal proceedings (Footnote 7) $ 22,000 $ 22,000 Deferred rents 13,297 13,394 Facility restructuring accrual 2,410 3,006 Deferred income tax liability 5,186 4,734 Other long-term liabilities 1,158 1,231 Total $ 44,051 $ 44,365

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive 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, 2015 $ (14,781 ) $ (14,781 ) Net current-period other comprehensive loss (4,199 ) (a) (4,199 ) Accumulated other comprehensive loss at June 30, 2016 $ (18,980 ) $ (18,980 ) (a) Represents the impact of foreign currency translation adjustments, primarily due to the devaluation of the British Pound Sterling (“GBP”) following the vote by the British people to leave the European Union (“Brexit”) on the Company’s GBP-denominated balances, including £15.7 million of goodwill.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information and Non-Cash Activity	6 Months Ended
	Jun. 30, 2016
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): Six Months Ended June 30, 2016 2015 Cash paid during the period for: Interest $ 8,149 $ 7,843 Income taxes (refunds) (6 ) 9,649 Non-cash items from investing and financing activities: Purchases of computer equipment financed through capital leases — 1,178 Investment in multi-client data library financed through accounts payable — 6,706 Bond exchange 10,740 (a) — Transfer of inventory to property, plant, equipment and seismic rental equipment — 15,936 (b) (a) This represents the non cash portion of the bond exchange. (b) 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.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 were $165.5 million and $183.0 million , respectively, compared to its fair values of $95.6 million and $104.3 million as of June 30, 2016 and December 31, 2015 , 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 and Re

Stock-based Compensation and Repurchase Plan	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stockholder's Equity and Stock-based Compensation and Repurchase Plan	Stock-based Compensation and Repurchase Plan Stock Appreciation Rights On March 1, 2016, the Company issued 1,210,000 S tock Appreciation Rights (“SARs”) awards to 15 individuals with an exercise price of $3.10 . 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 six months ended June 30, 2016 , the Company recorded $0.2 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, 2016 Risk-free interest rates 1.81% Expected lives (in years) 4.0 Expected dividend yield —% Expected volatility 70.99% Stock Repurchase Program On November 4, 2015, the Company’s board of directors approved a stock repurchase program authorizing the Company to repurchase, from time to time from November 10, 2015, through November 10, 2017, up to $25.0 million in shares of the Company’s 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 shares of the Company’s common stock and general market and economic conditions, applicable legal requirements and compliance with the terms of the Company’s outstanding indebtedness. The repurchase program does not obligate the Company to acquire any particular amount of common stock and may be modified or suspended at any time and could be terminated prior to completion. Since the program’s inception on November 10, 2015, through June 30, 2016, the Company had repurchased 451,792 shares of its common stock under the repurchase program at an average price per share of $6.54 , and the Company has approximately $22.0 million of remaining authorized capacity available pursuant to the repurchase program. The number of shares repurchased and the average price per repurchased share have been retroactively adjusted to reflect the one-for-fifteen reverse stock split completed on February 4, 2016. On June 30, 2016, the closing sale price for the Company’s common stock was $6.23 on the NYSE.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions BGP Inc. (“BGP”) owned approximately 13.5% of the Company’s outstanding common stock as of June 30, 2016 . For the six months ended June 30, 2016 and 2015 , the Company recorded revenues from BGP of $2.0 million and $4.9 million , respectively. Total receivables from BGP were $0.3 million at June 30, 2016 .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
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. In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842)” which introduces the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The guidance will be effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years with early adoption permitted. We are evaluating the effect of ASU 2016-002 on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting," that will change how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, the guidance on employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation and for forfeitures is changing and the update requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The amendments in this update will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. We are evaluating the effect of ASU 2016-09 on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments” that will change how companies measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “insured loss” approach with and “expected loss” model for instruments measured at amortized cost. For available-for-sale debt securities, entities will be required to record allowances rather than reduce the carrying amount. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. The amendments in this update will be effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018. We are evaluating the effect of ASU 2016-13 on our consolidated financial statements.

Acquisition of In-process Resea

Acquisition of In-process Research and Development	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisition of In-process Research and Development	Acquisition of In-process Research and Development In March 2016, the Company acquired Global Dynamics Incorporated, an Ontario-based company that designs and develops marine towing systems and equipment, including its proprietary SailWings technology. SailWings configurations are designed to optimize towed source arrays and augment towed streamer deployment systems, and yield significantly less drag, faster towing, improved fuel efficiency, and safer operations through their flexible and smaller footprint. The Company acquired the SailWings technology (in-process R&D) for a one-time expenditure of $1.0 million , which was recorded as a research, development and engineering expense within operating expenses. The acquisition agreement also contemplates cash payments (earn-outs) up to a total of $2.3 million for successful commercialization of this technology over the next ten years.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The Notes were issued by ION Geophysical Corporation and are guaranteed by 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. For additional information pertaining to the Notes, See Item 2. “ Management’s Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources Exchange Offer ” in Part II of this Form 10-Q. June 30, 2016 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 25,983 $ — $ 26,450 $ — $ 52,433 Accounts receivable, net 2,479 7,295 10,320 — 20,094 Unbilled receivables — 16,766 5,245 — 22,011 Inventories — 10,210 24,167 — 34,377 Prepaid expenses and other current assets 3,699 994 12,768 — 17,461 Total current assets 32,161 35,265 78,950 — 146,376 Property, plant, equipment and seismic rental equipment, net 2,617 15,616 40,179 — 58,412 Multi-client data library, net — 107,922 10,625 — 118,547 Investment in subsidiaries 648,831 241,166 — (889,997 ) — Goodwill — — 24,025 — 24,025 Intangible assets, net — 3,766 181 — 3,947 Intercompany receivables 303,615 — — (303,615 ) — Other assets 2,135 145 234 — 2,514 Total assets $ 989,359 $ 403,880 $ 154,194 $ (1,193,612 ) $ 353,821 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 15,053 $ 4,896 $ 422 $ — $ 20,371 Accounts payable 4,567 12,358 10,044 — 26,969 Accrued expenses 9,092 10,223 7,969 — 27,284 Accrued multi-client data library royalties — 23,435 38 — 23,473 Deferred revenue — 6,026 1,640 — 7,666 Total current liabilities 28,712 56,938 20,113 — 105,763 Long-term debt, net of current maturities 143,748 1,382 — — 145,130 Intercompany payables 757,674 128,422 175,193 (1,061,289 ) — Other long-term liabilities 498 33,639 9,914 — 44,051 Total liabilities 930,632 220,381 205,220 (1,061,289 ) 294,944 Equity: Common stock 118 290,460 19,138 (309,598 ) 118 Additional paid-in capital 897,476 180,700 232,590 (413,290 ) 897,476 Accumulated earnings (deficit) (819,887 ) 202,061 (20,569 ) (181,492 ) (819,887 ) Accumulated other comprehensive income (loss) (18,980 ) 4,420 (18,803 ) 14,383 (18,980 ) Due from ION Geophysical Corporation — (494,142 ) (263,532 ) 757,674 — Total stockholders’ equity 58,727 183,499 (51,176 ) (132,323 ) 58,727 Noncontrolling interests — — 150 — 150 Total equity 58,727 183,499 (51,026 ) (132,323 ) 58,877 Total liabilities and equity $ 989,359 $ 403,880 $ 154,194 $ (1,193,612 ) $ 353,821 December 31, 2015 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 33,734 $ — $ 51,199 $ — $ 84,933 Accounts receivable, net — 35,133 9,232 — 44,365 Unbilled receivables — 19,046 891 — 19,937 Inventories — 10,939 21,782 — 32,721 Prepaid expenses and other current assets 5,435 1,458 7,914 — 14,807 Total current assets 39,169 66,576 91,018 — 196,763 Property, plant, equipment and seismic rental equipment, net 4,521 21,072 46,434 — 72,027 Multi-client data library, net — 120,550 11,687 — 132,237 Investment in subsidiaries 680,508 243,319 — (923,827 ) — Goodwill — — 26,274 — 26,274 Intangible assets, net — 4,523 287 — 4,810 Intercompany receivables 75,641 — — (75,641 ) — Other assets 1,724 146 1,107 — 2,977 Total assets $ 801,563 $ 456,186 $ 176,807 $ (999,468 ) $ 435,088 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 486 $ 6,856 $ 570 $ — $ 7,912 Accounts payable 2,086 19,839 7,874 — 29,799 Accrued expenses 11,199 16,200 6,888 — 34,287 Accrued multi-client data library royalties — 25,045 — — 25,045 Deferred revenue — 5,071 1,489 — 6,560 Total current liabilities 13,771 73,011 16,821 — 103,603 Long-term debt, net of current maturities 171,672 3,408 — — 175,080 Intercompany payables 503,621 68,286 7,355 (579,262 ) — Other long-term liabilities 540 33,305 10,520 — 44,365 Total liabilities 689,604 178,010 34,696 (579,262 ) 323,048 Equity: Common stock 107 290,460 19,138 (309,598 ) 107 Additional paid-in capital 894,715 180,700 234,234 (414,934 ) 894,715 Accumulated earnings (deficit) (759,531 ) 231,208 (21,729 ) (209,479 ) (759,531 ) Accumulated other comprehensive income (loss) (14,781 ) 4,420 (14,604 ) 10,184 (14,781 ) Due from ION Geophysical Corporation — (428,612 ) (75,009 ) 503,621 — Treasury stock (8,551 ) — — — (8,551 ) Total stockholders’ equity 111,959 278,176 142,030 (420,206 ) 111,959 Noncontrolling interests — — 81 — 81 Total equity 111,959 278,176 142,111 (420,206 ) 112,040 Total liabilities and equity $ 801,563 $ 456,186 $ 176,807 $ (999,468 ) $ 435,088 Three Months Ended June 30, 2016 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 17,590 $ 18,564 $ (2 ) $ 36,152 Cost of sales — 22,910 8,391 (2 ) 31,299 Gross profit (loss) — (5,320 ) 10,173 — 4,853 Total operating expenses 9,791 6,685 4,965 — 21,441 Income (loss) from operations (9,791 ) (12,005 ) 5,208 — (16,588 ) Interest expense, net (4,641 ) (77 ) 16 — (4,702 ) Intercompany interest, net 219 (1,095 ) 876 — — Equity in earnings (losses) of investments (8,976 ) 5,932 — 3,044 — Other income (expense) (2,112 ) 182 213 — (1,717 ) Net income (loss) before income taxes (25,301 ) (7,063 ) 6,313 3,044 (23,007 ) Income tax expense 41 496 1,719 — 2,256 Net income (loss) (25,342 ) (7,559 ) 4,594 3,044 (25,263 ) Net income attributable to noncontrolling interests — — (79 ) — (79 ) Net income (loss) attributable to ION (25,342 ) (7,559 ) 4,515 3,044 (25,342 ) Comprehensive net loss $ (28,057 ) $ (7,559 ) $ 1,800 $ 5,816 $ (28,000 ) Comprehensive income attributable to noncontrolling interest — — (79 ) — (79 ) Comprehensive net income (loss) attributable to ION $ (28,057 ) $ (7,559 ) $ 1,721 $ 5,816 $ (28,079 ) Three Months Ended June 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 22,465 $ 14,765 $ (435 ) $ 36,795 Cost of sales — 28,227 19,138 (435 ) 46,930 Gross loss — (5,762 ) (4,373 ) — (10,135 ) Total operating expenses 6,466 12,805 11,283 — 30,554 Loss from operations (6,466 ) (18,567 ) (15,656 ) — (40,689 ) Interest expense, net (4,506 ) (100 ) (1 ) — (4,607 ) Intercompany interest, net 143 (745 ) 602 — — Equity in earnings (losses) of investments 66,986 (14,028 ) — (52,958 ) — Other income (expense) (29 ) 101,954 (325 ) — 101,600 Net income (loss) before income taxes 56,128 68,514 (15,380 ) (52,958 ) 56,304 Income tax expense 59 123 350 — 532 Net income (loss) 56,069 68,391 (15,730 ) (52,958 ) 55,772 Net loss attributable to noncontrolling interests — — 297 — 297 Net income (loss) attributable to ION 56,069 68,391 (15,433 ) (52,958 ) 56,069 Comprehensive net income (loss) $ 58,022 $ 70,390 $ (13,731 ) $ (56,956 ) $ 57,725 Comprehensive loss attributable to noncontrolling interest — — 297 — 297 Comprehensive net income (loss) attributable to ION $ 58,022 $ 70,390 $ (13,434 ) $ (56,956 ) $ 58,022 Six Months Ended June 30, 2016 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 $ 11,112 $ 7,580 $ (31,031 ) $ (12,339 ) Cash flows from investing activities: Cash invested in multi-client data library — (8,648 ) — (8,648 ) Purchase of property, plant, equipment and seismic rental equipment — (340 ) — (340 ) Net cash used in investing activities — (8,988 ) — (8,988 ) Cash flows from financing activities: Borrowings under revolving line of credit 15,000 — — 15,000 Repurchase of common stock (964 ) — — (964 ) Payments on notes payable and long-term debt (433 ) (3,986 ) (367 ) (4,786 ) Costs associated with issuance of debt (6,174 ) — — (6,174 ) Intercompany lending (11,305 ) 5,394 5,911 — Payment to repurchase bonds (15,000 ) — — (15,000 ) Other financing activities 13 — — 13 Net cash provided by (used in) financing activities (18,863 ) 1,408 5,544 (11,911 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 738 738 Net decrease in cash and cash equivalents (7,751 ) — (24,749 ) (32,500 ) Cash and cash equivalents at beginning of period 33,734 — 51,199 84,933 Cash and cash equivalents at end of period $ 25,983 $ — $ 26,450 $ 52,433 Six Months Ended June 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 $ (78,847 ) $ 46,942 $ 9,410 $ (22,495 ) Cash flows from investing activities: Investment in multi-client data library — (12,728 ) (870 ) (13,598 ) Purchase of property, plant, equipment and seismic rental equipment (347 ) (774 ) (16,092 ) (17,213 ) Other investing activities — 257 — 257 Net cash used in investing activities (347 ) (13,245 ) (16,962 ) (30,554 ) Cash flows from financing activities: Payments on notes payable and long-term debt — (2,927 ) (633 ) (3,560 ) Intercompany lending 29,755 (30,770 ) 1,015 — Other financing activities 22 — — 22 Net cash provided by (used in) financing activities 29,777 (33,697 ) 382 (3,538 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 39 39 Net decrease in cash and cash equivalents (49,417 ) — (7,131 ) (56,548 ) Cash and cash equivalents at beginning of period 109,514 — 64,094 173,608 Cash and cash equivalents at end of period $ 60,097 $ — $ 56,963 $ 117,060

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 4, 2016, the Company announced it plans to realign its four business segments into three . The new segments will be E&P Operations Optimization, E&P Technology and Services, and Ocean Bottom Services. Beginning in the third quarter of 2016, the Company changed its reportable segments as described below: • E&P Operations Optimization will now be comprised of Systems (to be renamed Devices), and Software. The manufacturing, engineering, research and development of ocean bottom systems will no longer be a part of Devices, and they will be within Ocean Bottom Services as noted below. • E&P Technology and Services, formerly Solutions, will continue to be comprised of the groups that support our New Venture and Data Library (together multi-client) revenues and Imaging Services group (Data Processing revenues). • Ocean Bottom Services (currently OceanGeo) will also include: the manufacturing, engineering, research and development of ocean bottom systems. This realignment of the business segments will allow the Company to better direct its resources and simplify its operations. The Company will recast 2015 segment results on a quarterly basis for comparability purposes starting in the third quarter of 2016.

Restructurings and Special It25

Restructurings and Special Items (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	During the three and six months ended June 30, 2016, the Company recognized the following pre-tax charges (in thousands): Severance Charges (a) Loss on Bond Exchange (b) Total Cost of goods sold $ 1,077 $ — $ 1,077 Operating expenses 932 — 932 Other expense — 2,182 2,182 Consolidated total $ 2,009 $ 2,182 $ 4,191 (a) Represents severance charges related to the second quarter 2016 restructurings. (b) Represents a loss on exchange of bonds during the second quarter 2016.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Summary of Segment Information	The following table is a summary of segment information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net revenues: Solutions: New Venture $ 4,579 $ 3,636 $ 7,885 $ 8,665 Data Library 6,275 7,509 10,547 9,646 Total multi-client revenues 10,854 11,145 18,432 18,311 Data Processing 7,764 11,205 13,204 23,038 Total $ 18,618 $ 22,350 $ 31,636 $ 41,349 Systems $ 6,626 $ 7,674 $ 11,985 $ 20,443 Software: Software Systems $ 4,096 $ 5,798 $ 8,246 $ 13,527 Services 379 973 517 2,054 Total $ 4,475 $ 6,771 $ 8,763 $ 15,581 Ocean Bottom Services $ 6,433 $ — $ 6,433 $ — Total $ 36,152 $ 36,795 $ 58,817 $ 77,373 Gross profit (loss): Solutions $ (3,533 ) $ (7,856 ) $ (13,306 ) $ (18,248 ) Systems 1,358 1,500 2,721 6,059 Software 2,761 4,208 5,287 9,798 Ocean Bottom Services 4,267 (7,987 ) 1,221 (23,532 ) Total $ 4,853 $ (10,135 ) $ (4,077 ) $ (25,923 ) Gross margin: Solutions (19 )% (35 )% (42 )% (44 )% Systems 20 % 20 % 23 % 30 % Software 62 % 62 % 60 % 63 % Ocean Bottom Services 66 % — % 19 % — % Total 13 % (28 )% (7 )% (34 )% Income (loss) from operations: Solutions $ (8,649 ) $ (19,756 ) $ (24,126 ) $ (41,534 ) Systems (1,843 ) (2,379 ) (4,352 ) (1,365 ) Software 899 2,095 1,895 5,430 Ocean Bottom Services 2,884 (10,008 ) (1,330 ) (27,567 ) Corporate and other (9,879 ) (10,641 ) (18,804 ) (22,342 ) Loss from operations (16,588 ) (40,689 ) (46,717 ) (87,378 ) Interest expense, net (4,702 ) (4,607 ) (9,436 ) (9,232 ) Other income (expense), net (1,717 ) 101,600 (1,597 ) 98,381 Income (loss) before income taxes $ (23,007 ) $ 56,304 $ (57,750 ) $ 1,771

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Obligations	The following table is a summary of long-term debt obligations, net (in thousands): Obligations (in thousands) June 30, 2016 December 31, 2015 Senior secured second-priority notes (maturing December 15, 2021) $ 120,569 $ — Senior secured third-priority notes (maturing May 15, 2018) 28,497 175,000 Revolving line of credit 15,000 — Equipment capital leases 6,068 9,762 Other debt 685 1,558 Costs associated with issuances of debt (1) (5,318 ) (3,328 ) Total 165,501 182,992 Current portion of long-term debt and lease obligations (20,371 ) (7,912 ) Non-current portion of long-term debt and lease obligations $ 145,130 $ 175,080 (1) Represents debt issuance costs presented as a direct deduction from the carrying amount of the associated debt liability.
Debt Instrument Redemption	On or after December 15, 2019, the Company may on one or more occasions redeem all or a part of the Second Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Second Lien Notes redeemed during the twelve-month period beginning on December 15th of the years indicated below: Date Percentage 2019 105.500% 2020 103.500% 2021 and thereafter 100.000% On or after May 15, 2015, the Company may on one or more occasions redeem all or a part of the Third Lien Notes at the redemption prices set forth below, plus accrued and unpaid interest and special interest, if any, on the Third Lien 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)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Computation of basic and diluted net income (loss) 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income (loss) attributable to ION $ (25,342 ) $ 56,069 $ (60,356 ) $ 805 Weighted average number of common shares outstanding 11,415 10,979 11,008 10,975 Effect of dilutive stock awards — 1 — 2 Weighted average number of diluted common shares outstanding 11,415 10,980 11,008 10,977 Basic net income (loss) per share $ (2.22 ) $ 5.11 $ (5.48 ) $ 0.07 Diluted net income (loss) per share $ (2.22 ) $ 5.11 $ (5.48 ) $ 0.07

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	The following table is a summary of other income (expense) , net (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Reductions of loss contingency related to legal proceedings (Footnote 7) $ — $ 101,978 $ — $ 101,978 Facility restructuring charges — — — (1,913 ) Loss on bond exchange (2,182 ) — (2,182 ) — Other income (expense), net 465 (378 ) 585 (1,684 ) Total other income (expense), net $ (1,717 ) $ 101,600 $ (1,597 ) $ 98,381

Details of Selected Balance S30

Details of Selected Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories The following table is a summary of inventories (in thousands): June 30, 2016 December 31, 2015 Raw materials and subassemblies $ 34,430 $ 34,949 Work-in-process 9,442 8,478 Finished goods 14,577 13,769 Reserve for excess and obsolete inventories (24,072 ) (24,475 ) Total $ 34,377 $ 32,721
Summary of Other Long-term Liabilities	Other Long-term Liabilities The following table is a summary of other long-term liabilities (in thousands): June 30, 2016 December 31, 2015 Accrual for loss contingency related to legal proceedings (Footnote 7) $ 22,000 $ 22,000 Deferred rents 13,297 13,394 Facility restructuring accrual 2,410 3,006 Deferred income tax liability 5,186 4,734 Other long-term liabilities 1,158 1,231 Total $ 44,051 $ 44,365

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Summary of Changes in 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, 2015 $ (14,781 ) $ (14,781 ) Net current-period other comprehensive loss (4,199 ) (a) (4,199 ) Accumulated other comprehensive loss at June 30, 2016 $ (18,980 ) $ (18,980 ) (a) Represents the impact of foreign currency translation adjustments, primarily due to the devaluation of the British Pound Sterling (“GBP”) following the vote by the British people to leave the European Union (“Brexit”) on the Company’s GBP-denominated balances, including £15.7 million of goodwill.

Supplemental Cash Flow Inform32

Supplemental Cash Flow Information and Non-Cash Activity (Tables)	6 Months Ended
	Jun. 30, 2016
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): Six Months Ended June 30, 2016 2015 Cash paid during the period for: Interest $ 8,149 $ 7,843 Income taxes (refunds) (6 ) 9,649 Non-cash items from investing and financing activities: Purchases of computer equipment financed through capital leases — 1,178 Investment in multi-client data library financed through accounts payable — 6,706 Bond exchange 10,740 (a) — Transfer of inventory to property, plant, equipment and seismic rental equipment — 15,936 (b) (a) This represents the non cash portion of the bond exchange. (b) 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.

Stock-based Compensation and 33

Stock-based Compensation and Repurchase Plan (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016 Risk-free interest rates 1.81% Expected lives (in years) 4.0 Expected dividend yield —% Expected volatility 70.99%

Condensed Consolidating Finan34

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Balance Sheet	June 30, 2016 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 25,983 $ — $ 26,450 $ — $ 52,433 Accounts receivable, net 2,479 7,295 10,320 — 20,094 Unbilled receivables — 16,766 5,245 — 22,011 Inventories — 10,210 24,167 — 34,377 Prepaid expenses and other current assets 3,699 994 12,768 — 17,461 Total current assets 32,161 35,265 78,950 — 146,376 Property, plant, equipment and seismic rental equipment, net 2,617 15,616 40,179 — 58,412 Multi-client data library, net — 107,922 10,625 — 118,547 Investment in subsidiaries 648,831 241,166 — (889,997 ) — Goodwill — — 24,025 — 24,025 Intangible assets, net — 3,766 181 — 3,947 Intercompany receivables 303,615 — — (303,615 ) — Other assets 2,135 145 234 — 2,514 Total assets $ 989,359 $ 403,880 $ 154,194 $ (1,193,612 ) $ 353,821 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 15,053 $ 4,896 $ 422 $ — $ 20,371 Accounts payable 4,567 12,358 10,044 — 26,969 Accrued expenses 9,092 10,223 7,969 — 27,284 Accrued multi-client data library royalties — 23,435 38 — 23,473 Deferred revenue — 6,026 1,640 — 7,666 Total current liabilities 28,712 56,938 20,113 — 105,763 Long-term debt, net of current maturities 143,748 1,382 — — 145,130 Intercompany payables 757,674 128,422 175,193 (1,061,289 ) — Other long-term liabilities 498 33,639 9,914 — 44,051 Total liabilities 930,632 220,381 205,220 (1,061,289 ) 294,944 Equity: Common stock 118 290,460 19,138 (309,598 ) 118 Additional paid-in capital 897,476 180,700 232,590 (413,290 ) 897,476 Accumulated earnings (deficit) (819,887 ) 202,061 (20,569 ) (181,492 ) (819,887 ) Accumulated other comprehensive income (loss) (18,980 ) 4,420 (18,803 ) 14,383 (18,980 ) Due from ION Geophysical Corporation — (494,142 ) (263,532 ) 757,674 — Total stockholders’ equity 58,727 183,499 (51,176 ) (132,323 ) 58,727 Noncontrolling interests — — 150 — 150 Total equity 58,727 183,499 (51,026 ) (132,323 ) 58,877 Total liabilities and equity $ 989,359 $ 403,880 $ 154,194 $ (1,193,612 ) $ 353,821 December 31, 2015 Balance Sheet ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 33,734 $ — $ 51,199 $ — $ 84,933 Accounts receivable, net — 35,133 9,232 — 44,365 Unbilled receivables — 19,046 891 — 19,937 Inventories — 10,939 21,782 — 32,721 Prepaid expenses and other current assets 5,435 1,458 7,914 — 14,807 Total current assets 39,169 66,576 91,018 — 196,763 Property, plant, equipment and seismic rental equipment, net 4,521 21,072 46,434 — 72,027 Multi-client data library, net — 120,550 11,687 — 132,237 Investment in subsidiaries 680,508 243,319 — (923,827 ) — Goodwill — — 26,274 — 26,274 Intangible assets, net — 4,523 287 — 4,810 Intercompany receivables 75,641 — — (75,641 ) — Other assets 1,724 146 1,107 — 2,977 Total assets $ 801,563 $ 456,186 $ 176,807 $ (999,468 ) $ 435,088 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 486 $ 6,856 $ 570 $ — $ 7,912 Accounts payable 2,086 19,839 7,874 — 29,799 Accrued expenses 11,199 16,200 6,888 — 34,287 Accrued multi-client data library royalties — 25,045 — — 25,045 Deferred revenue — 5,071 1,489 — 6,560 Total current liabilities 13,771 73,011 16,821 — 103,603 Long-term debt, net of current maturities 171,672 3,408 — — 175,080 Intercompany payables 503,621 68,286 7,355 (579,262 ) — Other long-term liabilities 540 33,305 10,520 — 44,365 Total liabilities 689,604 178,010 34,696 (579,262 ) 323,048 Equity: Common stock 107 290,460 19,138 (309,598 ) 107 Additional paid-in capital 894,715 180,700 234,234 (414,934 ) 894,715 Accumulated earnings (deficit) (759,531 ) 231,208 (21,729 ) (209,479 ) (759,531 ) Accumulated other comprehensive income (loss) (14,781 ) 4,420 (14,604 ) 10,184 (14,781 ) Due from ION Geophysical Corporation — (428,612 ) (75,009 ) 503,621 — Treasury stock (8,551 ) — — — (8,551 ) Total stockholders’ equity 111,959 278,176 142,030 (420,206 ) 111,959 Noncontrolling interests — — 81 — 81 Total equity 111,959 278,176 142,111 (420,206 ) 112,040 Total liabilities and equity $ 801,563 $ 456,186 $ 176,807 $ (999,468 ) $ 435,088
Condensed Income Statement	Three Months Ended June 30, 2016 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 17,590 $ 18,564 $ (2 ) $ 36,152 Cost of sales — 22,910 8,391 (2 ) 31,299 Gross profit (loss) — (5,320 ) 10,173 — 4,853 Total operating expenses 9,791 6,685 4,965 — 21,441 Income (loss) from operations (9,791 ) (12,005 ) 5,208 — (16,588 ) Interest expense, net (4,641 ) (77 ) 16 — (4,702 ) Intercompany interest, net 219 (1,095 ) 876 — — Equity in earnings (losses) of investments (8,976 ) 5,932 — 3,044 — Other income (expense) (2,112 ) 182 213 — (1,717 ) Net income (loss) before income taxes (25,301 ) (7,063 ) 6,313 3,044 (23,007 ) Income tax expense 41 496 1,719 — 2,256 Net income (loss) (25,342 ) (7,559 ) 4,594 3,044 (25,263 ) Net income attributable to noncontrolling interests — — (79 ) — (79 ) Net income (loss) attributable to ION (25,342 ) (7,559 ) 4,515 3,044 (25,342 ) Comprehensive net loss $ (28,057 ) $ (7,559 ) $ 1,800 $ 5,816 $ (28,000 ) Comprehensive income attributable to noncontrolling interest — — (79 ) — (79 ) Comprehensive net income (loss) attributable to ION $ (28,057 ) $ (7,559 ) $ 1,721 $ 5,816 $ (28,079 ) Three Months Ended June 30, 2015 Income Statement ION Geophysical Corporation The Guarantors All Other Subsidiaries Consolidating Adjustments Total Consolidated (In thousands) Net revenues $ — $ 22,465 $ 14,765 $ (435 ) $ 36,795 Cost of sales — 28,227 19,138 (435 ) 46,930 Gross loss — (5,762 ) (4,373 ) — (10,135 ) Total operating expenses 6,466 12,805 11,283 — 30,554 Loss from operations (6,466 ) (18,567 ) (15,656 ) — (40,689 ) Interest expense, net (4,506 ) (100 ) (1 ) — (4,607 ) Intercompany interest, net 143 (745 ) 602 — — Equity in earnings (losses) of investments 66,986 (14,028 ) — (52,958 ) — Other income (expense) (29 ) 101,954 (325 ) — 101,600 Net income (loss) before income taxes 56,128 68,514 (15,380 ) (52,958 ) 56,304 Income tax expense 59 123 350 — 532 Net income (loss) 56,069 68,391 (15,730 ) (52,958 ) 55,772 Net loss attributable to noncontrolling interests — — 297 — 297 Net income (loss) attributable to ION 56,069 68,391 (15,433 ) (52,958 ) 56,069 Comprehensive net income (loss) $ 58,022 $ 70,390 $ (13,731 ) $ (56,956 ) $ 57,725 Comprehensive loss attributable to noncontrolling interest — — 297 — 297 Comprehensive net income (loss) attributable to ION $ 58,022 $ 70,390 $ (13,434 ) $ (56,956 ) $ 58,022
Condensed Cash Flow Statement	Six Months Ended June 30, 2016 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 $ 11,112 $ 7,580 $ (31,031 ) $ (12,339 ) Cash flows from investing activities: Cash invested in multi-client data library — (8,648 ) — (8,648 ) Purchase of property, plant, equipment and seismic rental equipment — (340 ) — (340 ) Net cash used in investing activities — (8,988 ) — (8,988 ) Cash flows from financing activities: Borrowings under revolving line of credit 15,000 — — 15,000 Repurchase of common stock (964 ) — — (964 ) Payments on notes payable and long-term debt (433 ) (3,986 ) (367 ) (4,786 ) Costs associated with issuance of debt (6,174 ) — — (6,174 ) Intercompany lending (11,305 ) 5,394 5,911 — Payment to repurchase bonds (15,000 ) — — (15,000 ) Other financing activities 13 — — 13 Net cash provided by (used in) financing activities (18,863 ) 1,408 5,544 (11,911 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 738 738 Net decrease in cash and cash equivalents (7,751 ) — (24,749 ) (32,500 ) Cash and cash equivalents at beginning of period 33,734 — 51,199 84,933 Cash and cash equivalents at end of period $ 25,983 $ — $ 26,450 $ 52,433 Six Months Ended June 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 $ (78,847 ) $ 46,942 $ 9,410 $ (22,495 ) Cash flows from investing activities: Investment in multi-client data library — (12,728 ) (870 ) (13,598 ) Purchase of property, plant, equipment and seismic rental equipment (347 ) (774 ) (16,092 ) (17,213 ) Other investing activities — 257 — 257 Net cash used in investing activities (347 ) (13,245 ) (16,962 ) (30,554 ) Cash flows from financing activities: Payments on notes payable and long-term debt — (2,927 ) (633 ) (3,560 ) Intercompany lending 29,755 (30,770 ) 1,015 — Other financing activities 22 — — 22 Net cash provided by (used in) financing activities 29,777 (33,697 ) 382 (3,538 ) Effect of change in foreign currency exchange rates on cash and cash equivalents — — 39 39 Net decrease in cash and cash equivalents (49,417 ) — (7,131 ) (56,548 ) Cash and cash equivalents at beginning of period 109,514 — 64,094 173,608 Cash and cash equivalents at end of period $ 60,097 $ — $ 56,963 $ 117,060

Restructurings and Special It35

Restructurings and Special Items (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2016	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Economic determination period		5 years
Reduction in workforce, percent	12.00%
Restructuring charges		$ 4,191
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,077
Operating expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		932
Other expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2,182
Severance Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2,009
Severance Charges | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,077
Severance Charges | Operating expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		932
Severance Charges | Other expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0
Loss on Bond Exchange
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2,182
Loss on Bond Exchange | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0
Loss on Bond Exchange | Operating expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0
Loss on Bond Exchange | Other expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 2,182

Segment Information (Details)

Segment Information (Details)	Aug. 04, 2016segment	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment				4
Summary of segment information
Revenues		$ 36,152,000	$ 36,795,000	$ 58,817,000	$ 77,373,000
Gross profit (loss)		4,853,000	(10,135,000)	(4,077,000)	(25,923,000)
Income (loss) from operations		(16,588,000)	(40,689,000)	(46,717,000)	(87,378,000)
Interest expense, net		(4,702,000)	(4,607,000)	(9,436,000)	(9,232,000)
Other income (expense), net		(1,717,000)	101,600,000	(1,597,000)	98,381,000
Income (loss) before income taxes		(23,007,000)	56,304,000	(57,750,000)	1,771,000
Operating segments [Member]
Summary of segment information
Revenues		36,152,000	36,795,000	58,817,000	77,373,000
Gross profit (loss)		$ 4,853,000	$ (10,135,000)	$ (4,077,000)	$ (25,923,000)
Gross margin		13.00%	(28.00%)	(7.00%)	(34.00%)
Operating segments [Member] | Solutions [Member]
Summary of segment information
Revenues		$ 18,618,000	$ 22,350,000	$ 31,636,000	$ 41,349,000
Gross profit (loss)		$ (3,533,000)	$ (7,856,000)	$ (13,306,000)	$ (18,248,000)
Gross margin		(19.00%)	(35.00%)	(42.00%)	(44.00%)
Income (loss) from operations		$ (8,649,000)	$ (19,756,000)	$ (24,126,000)	$ (41,534,000)
Operating segments [Member] | Solutions [Member] | New Venture and Data Library [Member]
Summary of segment information
Revenues		10,854,000	11,145,000	18,432,000	18,311,000
Operating segments [Member] | Solutions [Member] | New Venture [Member]
Summary of segment information
Revenues		4,579,000	3,636,000	7,885,000	8,665,000
Operating segments [Member] | Solutions [Member] | Data Library [Member]
Summary of segment information
Revenues		6,275,000	7,509,000	10,547,000	9,646,000
Operating segments [Member] | Solutions [Member] | Data Processing [Member]
Summary of segment information
Revenues		7,764,000	11,205,000	13,204,000	23,038,000
Operating segments [Member] | Systems [Member]
Summary of segment information
Revenues		6,626,000	7,674,000	11,985,000	20,443,000
Gross profit (loss)		$ 1,358,000	$ 1,500,000	$ 2,721,000	$ 6,059,000
Gross margin		20.00%	20.00%	23.00%	30.00%
Income (loss) from operations		$ (1,843,000)	$ (2,379,000)	$ (4,352,000)	$ (1,365,000)
Operating segments [Member] | Software [Member]
Summary of segment information
Revenues		4,475,000	6,771,000	8,763,000	15,581,000
Gross profit (loss)		$ 2,761,000	$ 4,208,000	$ 5,287,000	$ 9,798,000
Gross margin		62.00%	62.00%	60.00%	63.00%
Income (loss) from operations		$ 899,000	$ 2,095,000	$ 1,895,000	$ 5,430,000
Operating segments [Member] | Software [Member] | Software Systems [Member]
Summary of segment information
Revenues		4,096,000	5,798,000	8,246,000	13,527,000
Operating segments [Member] | Software [Member] | Services [Member]
Summary of segment information
Revenues		379,000	973,000	517,000	2,054,000
Operating segments [Member] | Ocean Bottom Services Segment [Member]
Summary of segment information
Revenues		6,433,000	0	6,433,000	0
Gross profit (loss)		$ 4,267,000	$ (7,987,000)	$ 1,221,000	$ (23,532,000)
Gross margin		66.00%	0.00%	19.00%	0.00%
Income (loss) from operations		$ 2,884,000	$ (10,008,000)	$ (1,330,000)	$ (27,567,000)
Corporate and other [Member] | Corporate and Other [Member]
Summary of segment information
Income (loss) from operations		$ (9,879,000)	$ (10,641,000)	$ (18,804,000)	$ (22,342,000)
Subsequent event [Member]
Segment Reporting Information [Line Items]
Number of business segments | segment	3
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	Jun. 30, 2016	Apr. 28, 2016	Dec. 31, 2015
Obligations
Total debt	$ 165,501		$ 182,992
Current portion of long-term debt and lease obligations	(20,371)		(7,912)
Non-current portion of long-term debt and lease obligations	145,130		175,080
Senior secured second-priority notes [Member] | Senior secured second-priority notes (maturing December 15, 2021) [Member]
Obligations
Total debt	120,569	$ 120,600	0
Senior secured second-priority notes [Member] | Senior secured third-priority notes (maturing May 15, 2018) [Member]
Obligations
Total debt	28,497	$ 28,500	175,000
Revolving credit facility [Member]
Obligations
Total debt	15,000		0
Costs associated with issuances of debt	(5,318)		(3,328)
Equipment capital leases [Member]
Obligations
Total debt	6,068		9,762
Other debt [Member]
Obligations
Total debt	$ 685		$ 1,558

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	Apr. 28, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)	May 31, 2013USD ($)
Debt Instrument [Line Items]
Aggregate principal amount of debt		$ 165,501,000		$ 182,992,000
Principal purchased for cash		4,786,000	$ 3,560,000
Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Maximum amount of certain indebtedness		40,000,000
Increase in applicable margin due to amendment to Credit Facility	0.50%
Current borrowing capacity		26,900,000
Indebtedness under the Credit Facility		15,000,000
Number of days prior to stated maturity borrowing capacity reduced by reserve	90 days
Maximum amount of certain permitted junior indebtedness	$ 200,000,000	175,000,000
Number of days early commitment termination date and early maturity date, eliminated by amendment	90 days
Limit for multi-client liquidation component		15,000,000
Required liquidity maintained five consecutive business days		7,500,000
Required liquidity maintained any business day		6,500,000
Excess availability to borrow		$ 11,900,000
Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member] | Conversion Of Third Lien Notes For Second Lien Notes [Member]
Debt Instrument [Line Items]
Debt exchange conversion ratio	1
Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member] | Debt Conversion, Prior To Extended Early Tender Deadline [Member]
Debt Instrument [Line Items]
Debt exchange, ratio of principal to common stock shares (in dollars per share) | $ / shares	$ 100
Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member] | Debt Conversion, After Extended Early Tender Deadline [Member]
Debt Instrument [Line Items]
Debt exchange, ratio of principal to common stock shares (in dollars per share) | $ / shares	$ 142.86
Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio		1.1
Senior notes [Member]
Debt Instrument [Line Items]
Stated rate on debt		8.125%
Senior secured third-priority notes (maturing May 15, 2018) [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Principal amount of debt					$ 175,000,000
Stated rate on debt					8.125%
Aggregate principal amount of debt	$ 28,500,000	$ 28,497,000		175,000,000
Principal purchased for cash	15,000,000
Amount of debt converted	$ 146,500,000
Percentage of original debt accepted In exchange of outstanding principal of new debt	83.72%
Amount of debt purchased	$ 25,900,000
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Stated rate on debt	9.125%
Aggregate principal amount of debt	$ 120,600,000	$ 120,569,000		$ 0
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member] | Conversion Of Common Stock For Second Lien Notes [Member]
Debt Instrument [Line Items]
Debt converted for shares, issued shares | shares	1,205,477
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member] | Early Stock Consideration [Member]
Debt Instrument [Line Items]
Debt converted for shares, issued shares | shares	1,204,980
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member] | Stock Consideration [Member]
Debt Instrument [Line Items]
Debt converted for shares, issued shares | shares	497
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member] | Treasury Stock [Member] | Conversion Of Common Stock For Second Lien Notes [Member]
Debt Instrument [Line Items]
Debt converted for shares, issued shares | shares	508,464
Base Rate [Member] | Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate for debt	3.00%	2.50%
London Interbank Offered Rate (LIBOR) [Member] | Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate for debt	4.00%	3.50%
Subsidiary Issuer [Member] | Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Percentage of obligations secured by stock of Subsidiary Borrowers	100.00%
ION International Holdings L.P. [Member] | Line of credit [Member] | Revolving line of credit [Member] | PNC Bank, National Association (PNC) [Member]
Debt Instrument [Line Items]
Percentage of obligations secured by stock of Subsidiary Borrowers	65.00%

Long-term Debt - Pro Forma Impa

Long-term Debt - Pro Forma Impact of Bond Exchange Program (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 28, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Aggregate principal amount of debt	$ 165,501		$ 182,992
Senior secured second-priority notes (maturing December 15, 2021) [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of debt	120,569	$ 120,600	0
Senior secured third-priority notes (maturing May 15, 2018) [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of debt	$ 28,497	$ 28,500	$ 175,000

Long-term Debt - Debt Instrumen

Long-term Debt - Debt Instrument Redemption Percentages (Details) - Senior notes [Member]	Dec. 15, 2019	May 15, 2015
Redemption Period 1 [Member]
Debt Instrument [Line Items]
Redemption price percentages		104.063%
Redemption Period 1 [Member] | Forecast [Member]
Debt Instrument [Line Items]
Redemption price percentages	105.50%
Redemption Period 2 [Member]
Debt Instrument [Line Items]
Redemption price percentages		102.031%
Redemption Period 2 [Member] | Forecast [Member]
Debt Instrument [Line Items]
Redemption price percentages	103.50%
Redemption Period 3 [Member]
Debt Instrument [Line Items]
Redemption price percentages		100.00%
Redemption Period 3 [Member] | Forecast [Member]
Debt Instrument [Line Items]
Redemption price percentages	100.00%

Net Income (Loss) per Share - N

Net Income (Loss) per Share - Narrative (Details)	Feb. 04, 2016	Jun. 30, 2016shares	Jun. 30, 2015shares
Earnings Per Share [Abstract]
Number of shares issued or committed for issuance under outstanding stock options		900,623	621,443
Number of shares of restricted stock and shares reserved for restricted stock units outstanding		293,709	98,054
Reverse stock split ratio	0.0667

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income (loss) attributable to ION	$ (25,342)	$ 56,069	$ (60,356)	$ 805
Weighted average number of common shares outstanding (in shares)	11,415	10,979	11,008	10,975
Effect of dilutive stock awards	0	1	0	2
Weighted average number of diluted common shares outstanding (in shares)	11,415	10,980	11,008	10,977
Basic net income (loss) per share (in dollars per share)	$ (2.22)	$ 5.11	$ (5.48)	$ 0.07
Diluted net income (loss) per share (in dollars per share)	$ (2.22)	$ 5.11	$ (5.48)	$ 0.07

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating Loss Carryforwards [Line Items]
Effective income tax rates	(9.80%)	0.90%	(4.40%)	85.50%
Income tax expense, net	$ 2,256,000	$ 532,000	$ 2,549,000	$ 1,515,000
Unrecognized tax benefits	1,300,000		1,300,000
United States Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net deferred tax assets	$ 0		$ 0

Litigation (Details)

Litigation (Details) - WesternGeco [Member] $ in Millions	1 Months Ended					36 Months Ended
	May 31, 2014USD ($)	Apr. 30, 2014USD ($)	Oct. 31, 2013USD ($)	Aug. 31, 2012USD ($)	Jun. 30, 2009Patent	Jul. 02, 2015USD ($)	Jun. 30, 2016USD ($)	May 04, 2016USD ($)	Jun. 30, 2015USD ($)
Litigation (Textual) [Abstract]
Number of patent apparatus claims contained | Patent					4
Pending Litigation [Member]
Litigation (Textual) [Abstract]
Total damages awarded	$ 123.8	$ 9.4	$ 73.1	$ 105.9
Approximate amount of judgment settlement to be paid								$ 22
Reduction in damages award in the case		$ (3)
Prejudgment interest expense accrued						$ 10.9
Accrual for loss contingency related to legal proceedings							$ 22		$ 124
Loss Contingency, Collateral Requested For Appeal Bond							$ 11
Pending Litigation [Member] | Lost Royalties [Member]
Litigation (Textual) [Abstract]
Total damages awarded				12.5
Pending Litigation [Member] | Lost Profits [Member]
Litigation (Textual) [Abstract]
Total damages awarded				$ 93.4

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Income and Expenses [Abstract]
Reductions of loss contingency related to legal proceedings (Footnote 7)	$ 0	$ 101,978	$ 0	$ 101,978
Facility restructuring charges	0	0	0	(1,913)
Loss on bond exchange	(2,182)	0	(2,182)	0
Other income (expense), net	465	(378)	585	(1,684)
Total other income (expense), net	$ (1,717)	$ 101,600	$ (1,597)	$ 98,381

Details of Selected Balance S46

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials and subassemblies	$ 34,430	$ 34,949
Work-in-process	9,442	8,478
Finished goods	14,577	13,769
Reserve for excess and obsolete inventories	(24,072)	(24,475)
Total	$ 34,377	$ 32,721

Details of Selected Balance S47

Details of Selected Balance Sheet Accounts - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrual for loss contingency related to legal proceedings (Footnote 7)	$ 22,000	$ 22,000
Deferred rents	13,297	13,394
Facility restructuring accrual	2,410	3,006
Deferred income tax liability	5,186	4,734
Other long-term liabilities	1,158	1,231
Total	$ 44,051	$ 44,365

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss (Details) $ in Thousands, € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016EUR (€)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss at December 31, 2015			$ (14,781)
Net current-period other comprehensive loss	$ (2,737)	$ 1,953	(4,199)	$ 608
Accumulated other comprehensive loss at June 30, 2016	(18,980)		(18,980)
Goodwill					€ 15.7	$ 24,025	$ 26,274
Foreign currency translation adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss at December 31, 2015			(14,781)
Net current-period other comprehensive loss			(4,199)
Accumulated other comprehensive loss at June 30, 2016	$ (18,980)		$ (18,980)

Supplemental Cash Flow Inform49

Supplemental Cash Flow Information and Non-Cash Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash paid during the period for:
Interest	$ 8,149	$ 7,843
Income taxes (refunds)	(6)	9,649
Non-cash items from investing and financing activities:
Purchases of computer equipment financed through capital leases	0	1,178
Investment in multi-client data library financed through accounts payable	0	6,706
Bond exchange	10,740	0
Transfer of inventory to property, plant, equipment and seismic rental equipment	$ 0	$ 15,936

Fair Value of Financial Instr50

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Carrying value of long-term debt	$ 165,501	$ 182,992
Fair value of long-term debt	$ 95,600	$ 104,300

Stock-based Compensation and 51

Stock-based Compensation and Repurchase Plan - Narrative (Details) - Stock Appreciation Rights (SARs) [Member] $ / shares in Units, $ in Millions	Mar. 01, 2015individual$ / sharesshares	Jun. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of SARs issued | shares	1,210,000
Number of individuals received SARs | individual	15
Exercise price of SARs (in dollars per share) | $ / shares	$ 3.1
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 | $		$ 0.2
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 and 52

Stock-based Compensation and Repurchase Plan - Valuation Assumptions (Details)	Mar. 01, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rates	1.81%
Expected lives (in years)	4 years
Expected dividend yield	0.00%
Expected volatility	70.99%

Stock-based Compensation and 53

Stock-based Compensation and Repurchase Plan - Stock Repurchase Program (Details)	Feb. 04, 2016	Mar. 31, 2016$ / sharesshares	Jun. 30, 2016USD ($)$ / shares	Nov. 04, 2015USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock repurchase amount, authorized amount | $				$ 25,000,000
Number of shares repurchased | shares		451,792
Repurchased shares, average price per share | $ / shares		$ 6.54
Stock repurchase program, remaining authorized amount | $			$ 22,000,000
Reverse stock split ratio	0.0667
Common stock, closing sale price per share | $ / shares			$ 6.23

Related Party Transactions (Det

Related Party Transactions (Details) - BGP Joint Venture [Member] - Co-venturer [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Property Subject to or Available for Operating Lease [Line Items]
Company's outstanding common stock owned by BGP, percent	13.50%
Related party transaction, revenues from transactions with related party	$ 2	$ 4.9
Total receivables from BGP	$ 0.3

Acquisition of In-process Res55

Acquisition of In-process Research and Development (Details) - SailWings technology [Member] - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2016	Jun. 30, 2016
Research and development expense [Member]
Business Acquisition [Line Items]
Amount paid to acquire company in-process R & D	$ 1
Earn-out [Member]
Business Acquisition [Line Items]
Potential future earn-outs expected over ten years		$ 2.3
Period future earnings estimate is expected	10 years

Condensed Consolidating Finan56

Condensed Consolidating Financial Information - Condensed Balance Sheet (Details) $ in Thousands, € in Millions	Jun. 30, 2016EUR (€)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Current assets:
Cash and cash equivalents		$ 52,433	$ 84,933	$ 117,060	$ 173,608
Accounts receivable, net		20,094	44,365
Unbilled receivables		22,011	19,937
Inventories		34,377	32,721
Prepaid expenses and other current assets		17,461	14,807
Total current assets		146,376	196,763
Property, plant, equipment and seismic rental equipment, net		58,412	72,027
Multi-client data library, net		118,547	132,237
Investment in subsidiaries		0	0
Goodwill	€ 15.7	24,025	26,274
Intangible assets, net		3,947	4,810
Intercompany receivables		0	0
Other assets		2,514	2,977
Total assets		353,821	435,088
Current liabilities:
Current maturities of long-term debt		20,371	7,912
Accounts payable		26,969	29,799
Accrued expenses		27,284	34,287
Accrued multi-client data library royalties		23,473	25,045
Deferred revenue		7,666	6,560
Total current liabilities		105,763	103,603
Long-term debt, net of current maturities		145,130	175,080
Intercompany payables		0	0
Other long-term liabilities		44,051	44,365
Total liabilities		294,944	323,048
Stockholders’ equity:
Common stock		118	107
Additional paid-in capital		897,476	894,715
Accumulated earnings (deficit)		(819,887)	(759,531)
Accumulated other comprehensive income (loss)		(18,980)	(14,781)
Due from ION Geophysical Corporation		0	0
Treasury stock		0	(8,551)
Total stockholders' equity		58,727	111,959
Noncontrolling interests		150	81
Total equity		58,877	112,040
Total liabilities and equity		353,821	435,088
Reportable Legal Entities [Member] | ION Geophysical Corporation [Member]
Current assets:
Cash and cash equivalents		25,983	33,734	60,097	109,514
Accounts receivable, net		2,479	0
Unbilled receivables		0	0
Inventories		0	0
Prepaid expenses and other current assets		3,699	5,435
Total current assets		32,161	39,169
Property, plant, equipment and seismic rental equipment, net		2,617	4,521
Multi-client data library, net		0	0
Investment in subsidiaries		648,831	680,508
Goodwill		0	0
Intangible assets, net		0	0
Intercompany receivables		303,615	75,641
Other assets		2,135	1,724
Total assets		989,359	801,563
Current liabilities:
Current maturities of long-term debt		15,053	486
Accounts payable		4,567	2,086
Accrued expenses		9,092	11,199
Accrued multi-client data library royalties		0	0
Deferred revenue		0	0
Total current liabilities		28,712	13,771
Long-term debt, net of current maturities		143,748	171,672
Intercompany payables		757,674	503,621
Other long-term liabilities		498	540
Total liabilities		930,632	689,604
Stockholders’ equity:
Common stock		118	107
Additional paid-in capital		897,476	894,715
Accumulated earnings (deficit)		(819,887)	(759,531)
Accumulated other comprehensive income (loss)		(18,980)	(14,781)
Due from ION Geophysical Corporation		0	0
Treasury stock			(8,551)
Total stockholders' equity		58,727	111,959
Noncontrolling interests		0	0
Total equity		58,727	111,959
Total liabilities and equity		989,359	801,563
Reportable Legal Entities [Member] | The Guarantors [Member]
Current assets:
Cash and cash equivalents		0	0	0	0
Accounts receivable, net		7,295	35,133
Unbilled receivables		16,766	19,046
Inventories		10,210	10,939
Prepaid expenses and other current assets		994	1,458
Total current assets		35,265	66,576
Property, plant, equipment and seismic rental equipment, net		15,616	21,072
Multi-client data library, net		107,922	120,550
Investment in subsidiaries		241,166	243,319
Goodwill		0	0
Intangible assets, net		3,766	4,523
Intercompany receivables		0	0
Other assets		145	146
Total assets		403,880	456,186
Current liabilities:
Current maturities of long-term debt		4,896	6,856
Accounts payable		12,358	19,839
Accrued expenses		10,223	16,200
Accrued multi-client data library royalties		23,435	25,045
Deferred revenue		6,026	5,071
Total current liabilities		56,938	73,011
Long-term debt, net of current maturities		1,382	3,408
Intercompany payables		128,422	68,286
Other long-term liabilities		33,639	33,305
Total liabilities		220,381	178,010
Stockholders’ equity:
Common stock		290,460	290,460
Additional paid-in capital		180,700	180,700
Accumulated earnings (deficit)		202,061	231,208
Accumulated other comprehensive income (loss)		4,420	4,420
Due from ION Geophysical Corporation		(494,142)	(428,612)
Treasury stock			0
Total stockholders' equity		183,499	278,176
Noncontrolling interests		0	0
Total equity		183,499	278,176
Total liabilities and equity		403,880	456,186
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Current assets:
Cash and cash equivalents		26,450	51,199	$ 56,963	$ 64,094
Accounts receivable, net		10,320	9,232
Unbilled receivables		5,245	891
Inventories		24,167	21,782
Prepaid expenses and other current assets		12,768	7,914
Total current assets		78,950	91,018
Property, plant, equipment and seismic rental equipment, net		40,179	46,434
Multi-client data library, net		10,625	11,687
Investment in subsidiaries		0	0
Goodwill		24,025	26,274
Intangible assets, net		181	287
Intercompany receivables		0	0
Other assets		234	1,107
Total assets		154,194	176,807
Current liabilities:
Current maturities of long-term debt		422	570
Accounts payable		10,044	7,874
Accrued expenses		7,969	6,888
Accrued multi-client data library royalties		38	0
Deferred revenue		1,640	1,489
Total current liabilities		20,113	16,821
Long-term debt, net of current maturities		0	0
Intercompany payables		175,193	7,355
Other long-term liabilities		9,914	10,520
Total liabilities		205,220	34,696
Stockholders’ equity:
Common stock		19,138	19,138
Additional paid-in capital		232,590	234,234
Accumulated earnings (deficit)		(20,569)	(21,729)
Accumulated other comprehensive income (loss)		(18,803)	(14,604)
Due from ION Geophysical Corporation		(263,532)	(75,009)
Treasury stock			0
Total stockholders' equity		(51,176)	142,030
Noncontrolling interests		150	81
Total equity		(51,026)	142,111
Total liabilities and equity		154,194	176,807
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		0	0
Total current assets		0	0
Property, plant, equipment and seismic rental equipment, net		0	0
Multi-client data library, net		0	0
Investment in subsidiaries		(889,997)	(923,827)
Goodwill		0	0
Intangible assets, net		0	0
Intercompany receivables		(303,615)	(75,641)
Other assets		0	0
Total assets		(1,193,612)	(999,468)
Current liabilities:
Current maturities of long-term debt		0	0
Accounts payable		0	0
Accrued expenses		0	0
Accrued multi-client data library royalties		0	0
Deferred revenue		0	0
Total current liabilities		0	0
Long-term debt, net of current maturities		0	0
Intercompany payables		(1,061,289)	(579,262)
Other long-term liabilities		0	0
Total liabilities		(1,061,289)	(579,262)
Stockholders’ equity:
Common stock		(309,598)	(309,598)
Additional paid-in capital		(413,290)	(414,934)
Accumulated earnings (deficit)		(181,492)	(209,479)
Accumulated other comprehensive income (loss)		14,383	10,184
Due from ION Geophysical Corporation		757,674	503,621
Treasury stock			0
Total stockholders' equity		(132,323)	(420,206)
Noncontrolling interests		0	0
Total equity		(132,323)	(420,206)
Total liabilities and equity		$ (1,193,612)	$ (999,468)

Condensed Consolidating Finan57

Condensed Consolidating Financial Information - Condensed Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Income Statements, Captions [Line Items]
Net revenues	$ 36,152	$ 36,795	$ 58,817	$ 77,373
Cost of sales	31,299	46,930	62,894	103,296
Gross profit (loss)	4,853	(10,135)	(4,077)	(25,923)
Total operating expenses	21,441	30,554	42,640	61,455
Loss from operations	(16,588)	(40,689)	(46,717)	(87,378)
Interest expense, net	(4,702)	(4,607)	(9,436)	(9,232)
Intercompany interest, net	0	0	0	0
Equity in losses of investments	0	0	0	0
Other income (expense)	(1,717)	101,600	(1,597)	98,381
Income (loss) before income taxes	(23,007)	56,304	(57,750)	1,771
Income tax expense (benefit)	2,256	532	2,549	1,515
Net income (loss)	(25,263)	55,772	(60,299)	256
Net (income) loss attributable to noncontrolling interests	(79)	297	(57)	549
Net income (loss) attributable to ION	(25,342)	56,069	(60,356)	805
Comprehensive net income (loss)	(28,000)	57,725	(64,498)	864
Comprehensive (income) loss attributable to noncontrolling interest	(79)	297	(57)	549
Comprehensive net income (loss) attributable to ION	(28,079)	58,022	(64,555)	1,413
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	9,791	6,466	17,202	14,382
Loss from operations	(9,791)	(6,466)	(17,202)	(14,382)
Interest expense, net	(4,641)	(4,506)	(9,334)	(9,057)
Intercompany interest, net	219	143	451	282
Equity in losses of investments	(8,976)	66,986	(32,111)	24,129
Other income (expense)	(2,112)	(29)	(2,086)	(58)
Income (loss) before income taxes	(25,301)	56,128	(60,282)	914
Income tax expense (benefit)	41	59	74	109
Net income (loss)	(25,342)	56,069	(60,356)	805
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	(25,342)	56,069	(60,356)	805
Comprehensive net income (loss)	(28,057)	58,022	(64,555)	1,413
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(28,057)	58,022	(64,555)	1,413
Reportable Legal Entities [Member] | The Guarantors [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	17,590	22,465	28,752	41,314
Cost of sales	22,910	28,227	44,337	53,002
Gross profit (loss)	(5,320)	(5,762)	(15,585)	(11,688)
Total operating expenses	6,685	12,805	14,501	25,885
Loss from operations	(12,005)	(18,567)	(30,086)	(37,573)
Interest expense, net	(77)	(100)	(147)	(172)
Intercompany interest, net	(1,095)	(745)	(2,112)	(1,402)
Equity in losses of investments	5,932	(14,028)	4,124	(32,950)
Other income (expense)	182	101,954	(177)	101,969
Income (loss) before income taxes	(7,063)	68,514	(28,398)	29,872
Income tax expense (benefit)	496	123	749	174
Net income (loss)	(7,559)	68,391	(29,147)	29,698
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	(7,559)	68,391	(29,147)	29,698
Comprehensive net income (loss)	(7,559)	70,390	(29,147)	30,337
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	(7,559)	70,390	(29,147)	30,337
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	18,564	14,765	30,065	36,900
Cost of sales	8,391	19,138	18,557	51,135
Gross profit (loss)	10,173	(4,373)	11,508	(14,235)
Total operating expenses	4,965	11,283	10,937	21,188
Loss from operations	5,208	(15,656)	571	(35,423)
Interest expense, net	16	(1)	45	(3)
Intercompany interest, net	876	602	1,661	1,120
Equity in losses of investments	0	0	0	0
Other income (expense)	213	(325)	666	(3,530)
Income (loss) before income taxes	6,313	(15,380)	2,943	(37,836)
Income tax expense (benefit)	1,719	350	1,726	1,232
Net income (loss)	4,594	(15,730)	1,217	(39,068)
Net (income) loss attributable to noncontrolling interests	(79)	297	(57)	549
Net income (loss) attributable to ION	4,515	(15,433)	1,160	(38,519)
Comprehensive net income (loss)	1,800	(13,731)	(3,039)	(38,429)
Comprehensive (income) loss attributable to noncontrolling interest	(79)	297	(57)	549
Comprehensive net income (loss) attributable to ION	1,721	(13,434)	(3,096)	(37,880)
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net revenues	(2)	(435)	0	(841)
Cost of sales	(2)	(435)	0	(841)
Gross profit (loss)	0	0	0	0
Total operating expenses	0	0	0	0
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	3,044	(52,958)	27,987	8,821
Other income (expense)	0	0	0	0
Income (loss) before income taxes	3,044	(52,958)	27,987	8,821
Income tax expense (benefit)	0	0	0	0
Net income (loss)	3,044	(52,958)	27,987	8,821
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ION	3,044	(52,958)	27,987	8,821
Comprehensive net income (loss)	5,816	(56,956)	32,243	7,543
Comprehensive (income) loss attributable to noncontrolling interest	0	0	0	0
Comprehensive net income (loss) attributable to ION	$ 5,816	$ (56,956)	$ 32,243	$ 7,543

Condensed Consolidating Finan58

Condensed Consolidating Financial Information - Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ (12,339)	$ (22,495)
Cash flows from investing activities:
Cash invested in multi-client data library	(8,648)	(13,598)
Purchase of property, plant, equipment and seismic rental equipment	(340)	(17,213)
Other investing activities	0	257
Net cash used in investing activities	(8,988)	(30,554)
Borrowings under revolving line of credit	15,000	0
Cash flows from financing activities:
Repurchase of common stock	(964)
Payments on notes payable and long-term debt	(4,786)	(3,560)
Cost associated with issuance of notes	(6,174)	0
Intercompany lending	0	0
Repayments To Repurchase Bonds	(15,000)	0
Other financing activities	13	22
Net cash used in financing activities	(11,911)	(3,538)
Effect of change in foreign currency exchange rates on cash and cash equivalents	738	39
Net decrease in cash and cash equivalents	(32,500)	(56,548)
Cash and cash equivalents at beginning of period	84,933	173,608
Cash and cash equivalents at end of period	52,433	117,060
Reportable Legal Entities [Member] | ION Geophysical Corporation [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	11,112	(78,847)
Cash flows from investing activities:
Cash invested in multi-client data library	0	0
Purchase of property, plant, equipment and seismic rental equipment	0	(347)
Other investing activities		0
Net cash used in investing activities	0	(347)
Borrowings under revolving line of credit	15,000
Cash flows from financing activities:
Repurchase of common stock	(964)
Payments on notes payable and long-term debt	(433)	0
Cost associated with issuance of notes	(6,174)
Intercompany lending	(11,305)	29,755
Repayments To Repurchase Bonds	(15,000)
Other financing activities	13	22
Net cash used in financing activities	(18,863)	29,777
Effect of change in foreign currency exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(7,751)	(49,417)
Cash and cash equivalents at beginning of period	33,734	109,514
Cash and cash equivalents at end of period	25,983	60,097
Reportable Legal Entities [Member] | The Guarantors [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	7,580	46,942
Cash flows from investing activities:
Cash invested in multi-client data library	(8,648)	(12,728)
Purchase of property, plant, equipment and seismic rental equipment	(340)	(774)
Other investing activities		257
Net cash used in investing activities	(8,988)	(13,245)
Borrowings under revolving line of credit	0
Cash flows from financing activities:
Repurchase of common stock	0
Payments on notes payable and long-term debt	(3,986)	(2,927)
Cost associated with issuance of notes	0
Intercompany lending	5,394	(30,770)
Repayments To Repurchase Bonds	0
Other financing activities	0	0
Net cash used in financing activities	1,408	(33,697)
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	(31,031)	9,410
Cash flows from investing activities:
Cash invested in multi-client data library	0	(870)
Purchase of property, plant, equipment and seismic rental equipment	0	(16,092)
Other investing activities		0
Net cash used in investing activities	0	(16,962)
Borrowings under revolving line of credit	0
Cash flows from financing activities:
Repurchase of common stock	0
Payments on notes payable and long-term debt	(367)	(633)
Cost associated with issuance of notes	0
Intercompany lending	5,911	1,015
Repayments To Repurchase Bonds	0
Other financing activities	0	0
Net cash used in financing activities	5,544	382
Effect of change in foreign currency exchange rates on cash and cash equivalents	738	39
Net decrease in cash and cash equivalents	(24,749)	(7,131)
Cash and cash equivalents at beginning of period	51,199	64,094
Cash and cash equivalents at end of period	26,450	$ 56,963
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) - segment	Aug. 04, 2016	Jun. 30, 2016
Subsequent Event [Line Items]
Number of business segments		4
Subsequent event [Member]
Subsequent Event [Line Items]
Number of business segments	3