Document and Entity Information
| Document and Entity Information - shares | 3 Months Ended | |
| Mar. 31, 2019 | Apr. 19, 2019 | |
| Document and Entity Information [Abstract] | ||
| Entity Registrant Name | Superior Energy Services Inc | |
| Entity Central Index Key | 0000886835 | |
| Document Type | 10-Q | |
| Document Period End Date | Mar. 31, 2019 | |
| Amendment Flag | false | |
| Document Fiscal Year Focus | 2019 | |
| Document Fiscal Period Focus | Q1 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Emerging Growth Company | false | |
| Entity Small Business | false | |
| Entity Common Stock, Shares Outstanding | 155,956,938 | |
| Trading Symbol | spn |
Condensed Consolidated Balance
| Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
| Current assets: | ||
| Cash and cash equivalents | $ 151,568 | $ 158,050 |
| Accounts receivable, net of allowance for doubtful accounts of $13,512 and $12,080 at March 31, 2019 and December 31, 2018, respectively | 420,811 | 447,353 |
| Prepaid expenses | 52,241 | 45,802 |
| Inventory and other current assets | 127,646 | 121,700 |
| Total current assets | 752,266 | 772,905 |
| Property, plant and equipment, net of accumulated depreciation and depletion of $2,697,409 and $2,640,344 at March 31, 2019 and December 31, 2018, respectively | 1,061,357 | 1,109,126 |
| Operating lease right-of-use assets | 103,082 | |
| Goodwill | 137,495 | 136,788 |
| Notes receivable | 64,993 | 63,993 |
| Restricted cash | 2,722 | 5,698 |
| Intangible and other long-term assets, net of accumulated amortization of $78,723 and $76,358 at March 31, 2019 and December 31, 2018, respectively | 125,420 | 127,452 |
| Total assets | 2,247,335 | 2,215,962 |
| Current liabilities: | ||
| Accounts payable | 120,549 | 139,325 |
| Accrued expenses | 229,225 | 219,180 |
| Income taxes payable | 1,043 | 734 |
| Current portion of decommissioning liabilities | 3,565 | 3,538 |
| Total current liabilities | 354,382 | 362,777 |
| Long-term debt, net | 1,283,862 | 1,282,921 |
| Decommissioning liabilities | 128,062 | 126,558 |
| Operating lease liabilities | 78,384 | |
| Other long-term liabilities | 154,579 | 152,967 |
| Stockholders' equity: | ||
| Preferred stock of $0.01 par value. Authorized - 5,000,000 shares; none issued | ||
| Common stock of $0.001 par value, Authorized - 250,000,000, Issued and Outstanding - 155,956,600 at March 31, 2019, Authorized - 250,000,000, Issued and Outstanding - 154,885,418 at December 31, 2018 | 156 | 155 |
| Additional paid in capital | 2,739,083 | 2,735,125 |
| Accumulated other comprehensive loss, net | (72,104) | (73,177) |
| Retained deficit | (2,419,069) | (2,371,364) |
| Total stockholders' equity | 248,066 | 290,739 |
| Total liabilities and stockholders' equity | $ 2,247,335 | $ 2,215,962 |
Condensed Consolidated Balanc_2
| Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
| Condensed Consolidated Balance Sheets [Abstract] | ||
| Allowance for doubtful accounts | $ 13,512 | $ 12,080 |
| Accumulated depreciation and depletion on Property, plant and equipment | 2,697,409 | 2,640,344 |
| Accumulated amortization of Intangible and other long-term assets | $ 78,723 | $ 76,358 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, par value | $ 0.001 | $ 0.001 |
| Common stock, shares authorized | 250,000,000 | 250,000,000 |
| Common stock, shares issued | 155,956,600 | 154,885,418 |
| Common stock, shares outstanding | 155,956,600 | 154,885,418 |
Condensed Consolidated Statemen
| Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Revenues: | ||
| Total revenues | $ 467,176 | $ 482,318 |
| Costs and expenses: | ||
| Costs (exclusive of depreciation, depletion, amortization and accretion) | 330,163 | 343,460 |
| Depreciation, depletion, amortization and accretion | 82,439 | 105,719 |
| General and administrative expenses | 73,845 | 75,820 |
| Loss from operations | (19,271) | (42,681) |
| Other expense: | ||
| Interest expense, net | (25,121) | (24,887) |
| Other income (expense) | (1,612) | (1,735) |
| Loss from continuing operations before income taxes | (46,004) | (69,303) |
| Income taxes | 1,701 | (9,355) |
| Net loss from continuing operations | (47,705) | (59,948) |
| Loss from discontinued operations, net of income tax | 224 | |
| Net loss | $ (47,705) | $ (59,724) |
| Basic and diluted loss per share | $ (0.31) | $ (0.39) |
| Weighted average shares outstanding | 155,777 | 154,121 |
| Services [Member] | ||
| Revenues: | ||
| Total revenues | $ 376,139 | $ 399,768 |
| Costs and expenses: | ||
| Costs (exclusive of depreciation, depletion, amortization and accretion) | 288,476 | 311,139 |
| Depreciation, depletion, amortization and accretion | 66,776 | 87,747 |
| Rentals [Member] | ||
| Revenues: | ||
| Total revenues | 91,037 | 82,550 |
| Costs and expenses: | ||
| Costs (exclusive of depreciation, depletion, amortization and accretion) | 41,687 | 32,321 |
| Depreciation, depletion, amortization and accretion | $ 15,663 | $ 17,972 |
Condensed Consolidated Statem_2
| Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Condensed Consolidated Statement of Comprehensive Loss [Abstract] | ||
| Net loss | $ (47,705) | $ (59,724) |
| Change in cumulative translation adjustment, net of tax | 1,073 | 4,388 |
| Comprehensive loss | $ (46,632) | $ (55,336) |
Condensed Consolidated Statem_3
| Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Cash flows from operating activities: | ||
| Net loss | $ (47,705) | $ (59,724) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation, depletion, amortization and accretion | 82,439 | 105,719 |
| Deferred income taxes | (12,285) | |
| Stock based compensation expense | 8,453 | 8,197 |
| Other reconciling items, net | (3,986) | (987) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 26,590 | (44,692) |
| Inventory and other current assets | (5,941) | (15,620) |
| Accounts payable | (8,172) | 16,810 |
| Accrued expenses | (17,709) | (14,501) |
| Other, net | (6,590) | (7,875) |
| Net cash provided by (used in) operating activities | 27,379 | (24,958) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (41,160) | (65,734) |
| Proceeds from sales of assets | 5,066 | 12,135 |
| Net cash used in investing activities | (36,094) | (53,599) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of short-term debt | 744 | |
| Tax withholdings for vested restricted stock units | (1,667) | (5,155) |
| Other | (304) | |
| Net cash used in financing activities | (1,667) | (4,715) |
| Effect of exchange rate changes on cash | 924 | 1,812 |
| Net change in cash, cash equivalents, and restricted cash | (9,458) | (81,460) |
| Cash, cash equivalents, and restricted cash at beginning of period | 163,748 | 192,483 |
| Cash, cash equivalents, and restricted cash at end of period | $ 154,290 | $ 111,023 |
Consolidated Statements Of Chan
| Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss, Net [Member] | Retained Deficit [Member] | Total |
| Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2017 | $ 153 | $ 2,713,161 | $ (67,427) | $ (1,513,458) | $ 1,132,429 |
| Beginning balance, shares at Dec. 31, 2017 | 153,263,097 | ||||
| Net loss | (59,724) | (59,724) | |||
| Foreign currency translation adjustment | 4,388 | 4,388 | |||
| Stock-based compensation expense, net of forfeitures | 6,229 | 6,229 | |||
| Restricted stock units vested, Value | $ 1 | (1) | |||
| Restricted stock units vested, shares | 1,431,646 | ||||
| Shares withheld and retired, value | (5,153) | (5,153) | |||
| Shares withheld and retired, shares | (457,481) | ||||
| Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2018 | $ 154 | 2,714,236 | (63,039) | (1,573,182) | 1,078,169 |
| Ending balance, shares at Mar. 31, 2018 | 154,237,262 | ||||
| Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2018 | $ 155 | 2,735,125 | (73,177) | (2,371,364) | 290,739 |
| Beginning balance, shares at Dec. 31, 2018 | 154,885,418 | ||||
| Net loss | (47,705) | (47,705) | |||
| Foreign currency translation adjustment | 1,073 | 1,073 | |||
| Stock-based compensation expense, net of forfeitures | 5,625 | 5,625 | |||
| Restricted stock units vested, Value | $ 1 | (1) | |||
| Restricted stock units vested, shares | 1,503,046 | ||||
| Shares withheld and retired, value | (1,666) | (1,666) | |||
| Shares withheld and retired, shares | (431,864) | ||||
| Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2019 | $ 156 | $ 2,739,083 | $ (72,104) | $ (2,419,069) | $ 248,066 |
| Ending balance, shares at Mar. 31, 2019 | 155,956,600 |
Basis of Presentation
| Basis of Presentation | 3 Months Ended |
| Mar. 31, 2019 | |
| Basis of Presentation [Abstract] | |
| Basis of Presentation | (1) Basis of Presentation Certain information and footnote disclosures normally in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (SEC); however, management believes the disclosures that are made are adequate to make the information presented not misleading. These financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Superior Energy Services, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2018 , and Management’s Discussion and Analysis of Financial Condition and Results of Operations herein. The financial information of Superior Energy Services, Inc. and its subsidiaries (the Company) for the three months ended March 31, 2019 and 2018 has not been audited. However, in the opinion of management, all adjustments necessary to present fairly the results of operations for the periods presented have been included therein. The results of operations for the first three months of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Due to the nature of the Company’s business, the Company is involved, from time to time, in routine litigation or subject to disputes or claims regarding its business activities. Legal costs related to these matters are expensed as incurred. In management’s opinion, none of the pending litigation, disputes or claims is expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity. The Company evaluates events that occur after the balance sheet date but before the financial statements are issued for potential recognition or disclosure. Based on the evaluation, the Company determined that there were no material subsequent events for recognition or disclosure. |
Revenue
| Revenue | 3 Months Ended |
| Mar. 31, 2019 | |
| Revenue [Abstract] | |
| Revenue | (2) Revenue Revenue Recognition Revenues are recognized when performance obligations are satisfied in accordance with contractual terms, in an amount that reflects the consideration the Company expects to be entitled to in exchange for services rendered or rentals provided. Taxes collected from customers and remitted to governmental authorities and revenues are reported on a net basis in the Company’s financial statements. Performance Obligations A performance obligation arises under contracts with customers to render services or provide rentals, and is the unit of account under Topic 606. The Company accounts for services rendered and rentals provided separately if they are distinct and the service or rental is separately identifiable from other items provided to a customer and if a customer can benefit from the services rendered or rentals provided on its own or with other resources that are readily available to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. A contract’s standalone selling prices are determined based on the prices that the Company charges for its services rendered and rentals provided. The majority of the Company’s performance obligations are satisfied over time, which is generally represented by a period of 30 days or less. The Company’s payment terms vary by the type of products or services offered. The term between invoicing and when the payment is due is typically 30 days. Services revenue primarily represents amounts charged to customers for the completion of services rendered, including labor, products and supplies necessary to perform the service. Rates for these services vary depending on the type of services provided and can be based on a per job, per hour or per day basis. Rentals revenue is, primarily priced on a per day, per man hour or similar basis and consists of fees charged to customers for use of the Company’s rental equipment over the term of the rental period, which is generally less than twelve months. The Company expenses sales commissions when incurred because the amortization period would have been one year or less. Disaggregation of revenue The following table presents the Company’s revenues by segment disaggregated by geography (in thousands): Three Months Ended March 31, 2019 2018 U.S. land Drilling Products and Services $ 48,217 $ 40,717 Onshore Completion and Workover Services 205,038 231,489 Production Services 40,666 52,457 Technical Solutions 11,920 6,833 Total U.S. land $ 305,841 $ 331,496 U.S. offshore Drilling Products and Services $ 29,067 $ 20,989 Onshore Completion and Workover Services - - Production Services 19,272 17,500 Technical Solutions 20,933 37,562 Total U.S. offshore $ 69,272 $ 76,051 International Drilling Products and Services $ 23,795 $ 23,496 Onshore Completion and Workover Services - - Production Services 43,512 30,760 Technical Solutions 24,756 20,515 Total International $ 92,063 $ 74,771 Total Revenues $ 467,176 $ 482,318 The following table presents the Company’s revenues by segment disaggregated by type (in thousands): Three Months Ended March 31, 2019 2018 Services Drilling Products and Services $ 31,121 $ 24,005 Onshore Completion and Workover Services 194,417 221,347 Production Services 94,848 94,614 Technical Solutions 55,753 59,802 Total services $ 376,139 $ 399,768 Rentals Drilling Products and Services $ 69,958 $ 61,197 Onshore Completion and Workover Services 10,621 10,142 Production Services 8,602 6,103 Technical Solutions 1,856 5,108 Total rentals $ 91,037 $ 82,550 Total Revenues $ 467,176 $ 482,318 Impact of adoption of Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) Services revenue: In connection with adoption of Topic 842, the Company determined that certain of its services revenue contracts contain a lease component. The Company elected to adopt a practical expedient available to lessors, which allows the Company to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. Therefore, the Company combined the lease and service components for certain of the Company’s service contracts and continues to account for the combined component under Topic 606, Revenue from Contracts with Customers. Rentals revenue: The Company determined that its rentals revenue contracts represent short-term operating leases. Therefore, the adoption of the ASU 2016-02 did not result in any changes in the timing or method of revenue recognition for the Company’s rental revenues. |
Inventory
| Inventory | 3 Months Ended |
| Mar. 31, 2019 | |
| Inventory [Abstract] | |
| Inventory | (3) Inventory Inventories are stated at the lower of cost or net realizable value. The Company applies net realizable value and obsolescence to the gross value of the inventory. Cost is determined using the first-in, first-out or weighted-average cost methods for finished goods and work-in-process. Supplies and consumables primarily consist of products used in our services provided to customers. The components of the inventory balances are as follows (in thousands): March 31, 2019 December 31, 2018 Finished goods $ 54,931 $ 54,144 Raw materials 17,358 16,795 Work-in-process 7,992 5,544 Supplies and consumables 34,064 30,822 Total $ 114,345 $ 107,305 |
Notes Receivable
| Notes Receivable | 3 Months Ended |
| Mar. 31, 2019 | |
| Notes Receivable [Abstract] | |
| Notes Receivable | (4) Notes Receivable Notes receivable consist of a commitment from the seller of an oil and gas property acquired by the Company related to costs associated with the abandonment of the acquired property. Pursuant to an agreement with the seller, the Company will invoice the seller an agreed upon amount at the completion of certain decommissioning activities. The gross amount of this obligation totals $ 115.0 million and is recorded at present value using an effective interest rate of 6.58 %. The related discount is amortized to interest income based on the expected timing of completion of the decommissioning activities. The Company recorded interest income related to notes receivable of $1.0 million for each of the three months ended March 31, 2019 and 2018 . |
Debt
| Debt | 3 Months Ended |
| Mar. 31, 2019 | |
| Debt [Abstract] | |
| Debt | (5) Debt The Company’s outstanding debt is as follows (in thousands): March 31, 2019 December 31, 2018 Long-term Long-term Senior unsecured notes due September 2024 $ 500,000 $ 500,000 Senior unsecured notes due December 2021 800,000 800,000 Total debt, gross 1,300,000 1,300,000 Unamortized debt issuance costs (16,138) (17,079) Total debt, net $ 1,283,862 $ 1,282,921 Credit Facility The Company has an asset-based revolving credit facility which matures in October 2022. The borrowing base under the credit facility is calculated based on a formula referencing the borrower’s and the subsidiary guarantors’ eligible accounts receivable, eligible inventory and eligible premium rental drill pipe less reserves. Availability under the credit facility is the lesser of (i) the commitments, (ii) the borrowing base and (iii) the highest principal amount permitted to be secured under the indenture governing the 7 1/8% senior unsecured notes due 2021. At March 31, 2019 , the borrowing base was $240.8 million and the Company had $73.2 million of letters of credit outstanding that reduced its borrowing availability under the revolving credit facility. The credit agreement contains various covenants, including, but not limited to, limitations on the incurrence of indebtedness, permitted investments, liens on assets, making distributions, transactions with affiliates, merger, consolidations, dispositions of assets and other provisions customary in similar types of agreements. Senior Unsecured Notes The Company has outstanding $500 million of 7 3/4% senior unsecured notes due September 2024. The indenture governing the 7 3/4% senior unsecured notes due 2024 requires semi-annual interest payments on March 15 and September 15 of each year through the maturity date of September 15, 2024. The Company also has outstanding $ 800 million of 7 1/8% senior unsecured notes due December 2021. The indenture governing the 7 1/8% senior unsecured notes due 2021 requires semi-annual interest payments on June 15 and December 15 of each year through the maturity date of December 15, 2021. |
Decommissioning Liabilities
| Decommissioning Liabilities | 3 Months Ended |
| Mar. 31, 2019 | |
| Decommissioning Liabilities [Abstract] | |
| Decommissioning Liabilities | (6) Decommissioning Liabilities The Company’s decommissioning liabilities associated with an oil and gas property and its related assets include liabilities related to the plugging of wells, removal of the related platform and equipment, and site restoration. The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows and/or relating timing needed to satisfy the liability have changed materially. The Company had decommissioning liabilities of $131.6 million and $130.1 million at March 31, 2019 and December 31, 2018 , respectively. |
Leases
| Leases | 3 Months Ended |
| Mar. 31, 2019 | |
| Leases [Abstract] | |
| Leases | (7) Leases Adoption of ASU 2016-02, Leases The Company adopted the new standard on January 1, 2019 and used the effective date as the date of initial application. Therefore, prior period financial information has not been adjusted and continues to be reflected in accordance with the Company’s historical accounting policy. The standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. The standard provides a number of optional practical expedients in transition. The Company elected the “package of practical expedients,” which, among other things, allows the Company to carry forward its historical lease classification. The adoption of this standard resulted in the recording of operating lease assets and operating lease liabilities of approximately $100.0 million as of January 1, 2019, with no related impact on the Company’s condensed consolidated statement of equity or condensed consolidated statement of operations. Short-term leases have not been recorded on the balance sheet. Accounting Policy for Leases The Company determines if an arrangement is a lease at inception. All of the Company’s leases are operating leases and are included in ROU assets, accounts payable and operating lease liabilities in the condensed consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligations to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s lease terms may include options to extend or terminate the lease. Overview The Company’s operating leases are primarily for real estate, machinery and equipment, and vehicles. The terms and conditions for these leases vary by the type of underlying asset. Total operating lease expense was $15.7 million and $13.5 million for the three months ended March 31, 2019 and 2018, respectively. For the three months ended March 31, 2019, a portion of the total operating lease expense relating to short-term leases was $5.4 million. Supplemental Balance Sheet Information Operating leases at March 31, 2019 were as follows (in thousands): March 31, 2019 Operating lease ROU assets $ 103,082 Accrued expenses $ 27,589 Operating lease liabilities 78,384 Total operating lease liabilities $ 105,973 Cash paid for operating leases $ 8,742 ROU assets obtained in exchange for lease obligations $ 6,877 Weighted average remaining lease term 8 years Weighted average discount rate 6.75% Maturities of operating lease liabilities at March 31, 2019 are as follows (in thousands): Remainder of 2019 $ 24,890 2020 27,169 2021 20,317 2022 11,847 2023 7,341 Thereafter 48,535 Total lease payments 140,099 Less imputed interest (34,126) Total $ 105,973 At December 31, 2018, future minimum lease payments under long-term leases for the five years ending December 31, 2019 through 2023 and thereafter are as follows: $30.8 million, $24.3 million, $16.6 million, $9.8 million and $6.9 million and $37.8 million, respectively. |
Fair Value Measurements
| Fair Value Measurements | 3 Months Ended |
| Mar. 31, 2019 | |
| Fair Value Measurements [Abstract] | |
| Fair Value Measurements | (8) Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or the price paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in determining fair value are characterized according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. The three input levels of the fair value hierarchy are as follows. Level 1 : Unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 : Observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in inactive markets; or model-derived valuations or other inputs that can be corroborated by observable market data. Level 3 : Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. The following tables provide a summary of the financial assets and liabilities measured at fair value on a recurring basis (in thousands): Fair Value at March 31, 2019 Level 1 Level 2 Level 3 Total Intangible and other long-term assets, net: Non-qualified deferred compensation assets $ - $ 14,183 $ - $ 14,183 Accounts payable: Non-qualified deferred compensation liabilities $ - $ 1,329 $ - $ 1,329 Other long-term liabilities: Non-qualified deferred compensation liabilities $ - $ 20,961 $ - $ 20,961 Total debt $ 1,141,127 $ - $ - $ 1,141,127 Fair Value at December 31, 2018 Level 1 Level 2 Level 3 Total Intangible and other long-term assets, net: Non-qualified deferred compensation assets $ 376 $ 12,930 $ - $ 13,306 Accounts payable: Non-qualified deferred compensation liabilities $ - $ 1,138 $ - $ 1,138 Other long-term liabilities: Non-qualified deferred compensation liabilities $ - $ 19,766 $ - $ 19,766 Total debt $ 1,084,711 $ - $ - $ 1,084,711 The Company’s non-qualified deferred compensation plans allow officers, certain highly compensated employees and non-employee directors to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds. These investments are reported at fair value based on unadjusted quoted prices in active markets for identifiable assets and observable inputs for similar assets and liabilities, which represent Levels 1 and 2, respectively, in the fair value hierarchy. The carrying amount of cash equivalents, accounts receivable, accounts payable and accrued expenses, as reflected in the condensed consolidated balance sheets, approximates fair value due to the short maturities. The fair value of the debt instruments is determined by reference to the market value of the instrument as quoted in an over-the-counter market. |
Segment Information
| Segment Information | 3 Months Ended |
| Mar. 31, 2019 | |
| Segment Information [Abstract] | |
| Segment Information | (9) Segment Information Business Segments The Drilling Products and Services segment rents and sells premium drill pipe, bottom hole assemblies, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities. It also provides on-site accommodations and machining services. The Onshore Completion and Workover Services segment provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a variety of well completion, workover and maintenance services. The Production Services segment provides intervention services such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well containment systems, stimulation and sand control services, well plug and abandonment services and the production and sale of oil and gas. The Company evaluates the performance of its reportable segments based on income or loss from operations excluding corporate expenses. The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation, depletion, amortization and accretion expense and reduction in value of assets. The Company uses this segment measure to evaluate its reportable segments because it is the measure that is most consistent with how the Company organizes and manages its business operations. Corporate and other costs primarily include expenses related to support functions, salaries and benefits for corporate employees and stock-based compensation expense. Summarized financial information for the Company’s segments is as follows (in thousands): Three Months Ended March 31, 2019 Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total Revenues $ 101,079 $ 205,038 $ 103,450 $ 57,609 $ - $ 467,176 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) 42,205 171,799 79,881 36,278 - 330,163 Depreciation, depletion, amortization and accretion 23,026 37,743 14,140 6,310 1,220 82,439 General and administrative expenses 14,569 10,575 7,812 15,937 24,952 73,845 Income (loss) from operations 21,279 (15,079) 1,617 (916) (26,172) (19,271) Interest income (expense), net - - - 1,018 (26,139) (25,121) Other expense - - - - (1,612) (1,612) Income (loss) from continuing operations before income taxes $ 21,279 $ (15,079) $ 1,617 $ 102 $ (53,923) $ (46,004) Three Months Ended March 31, 2018 Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total Revenues $ 85,202 $ 231,489 $ 100,717 $ 64,910 $ - $ 482,318 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) 35,070 180,651 85,936 41,803 - 343,460 Depreciation, depletion, amortization and accretion 29,641 47,655 19,280 7,730 1,413 105,719 General and administrative expenses 12,524 13,226 9,593 14,060 26,417 75,820 Income (loss) from operations 7,967 (10,043) (14,092) 1,317 (27,830) (42,681) Interest income (expense), net - - - 956 (25,843) (24,887) Other expense - - - - (1,735) (1,735) Income (loss) from continuing operations before income taxes $ 7,967 $ (10,043) $ (14,092) $ 2,273 $ (55,408) $ (69,303) Identifiable Assets Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total March 31, 2019 $ 607,991 $ 743,319 $ 497,110 $ 331,877 $ 67,038 $ 2,247,335 December 31, 2018 $ 587,264 $ 808,037 $ 434,430 $ 340,161 $ 46,070 $ 2,215,962 Geographic Segments The Company attributes revenue to various countries based on the location of where services are performed or the destination of the drilling products or equipment sold or rented. Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period. The Company’s revenue attributed to the U.S. and to other countries and the value of its long-lived assets by those locations are as follows (in thousands): Revenues Three Months Ended March 31, 2019 2018 United States $ 375,113 $ 407,547 Other countries 92,063 74,771 Total $ 467,176 $ 482,318 Long-Lived Assets March 31, 2019 December 31, 2018 United States $ 867,831 $ 903,520 Other countries 193,526 205,606 Total $ 1,061,357 $ 1,109,126 |
Stock-Based Compensation Plans
| Stock-Based Compensation Plans | 3 Months Ended |
| Mar. 31, 2019 | |
| Stock-Based Compensation Plans [Abstract] | |
| Stock-Based Compensation Plans | (10) Stock-Based Compensation Plans The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers, directors, consultants and advisors (Eligible Participants). Under the stock incentive plans, the Company may grant incentive stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards or any combination thereof to Eligible Participants. The Company’s total compensation expense related to these plans was approximately $8.0 m illion and $ 7.9 million for the three months ended March 31, 2019 and March 31, 2018 , respectively, which is reflected in general and administrative expenses. |
Income Taxes
| Income Taxes | 3 Months Ended |
| Mar. 31, 2019 | |
| Income Taxes [Abstract] | |
| Income Taxes | (11) Income Taxes The Company had $ 30.6 million of unrecorded tax benefits as of March 31, 2019 and December 31, 2018 , all of which would impact the Company’s effective tax rate if recognized. It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense. |
Earnings Per Share
| Earnings Per Share | 3 Months Ended |
| Mar. 31, 2019 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share | (12) Earnings per Share Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and the conversion of restricted stock units. The Company incurred a loss from continuing operations for the three months ended March 31, 2019 and 2018; therefore the impact of any incremental shares would be anti-dilutive. |
Supplemental Guarantor Informat
| Supplemental Guarantor Information | 3 Months Ended |
| Mar. 31, 2019 | |
| Supplemental Guarantor Information [Abstract] | |
| Supplemental Guarantor Information | (13) Supplemental Guarantor Information SESI, L.L.C. (the Issuer), a 100% owned subsidiary of Superior Energy Services, Inc. (Parent), has $500 million of 7 3/4% senior unsecured notes due 2024. The Parent, along with certain of its 100% owned domestic subsidiaries, fully and unconditionally guaranteed such senior unsecured notes, and such guarantees are joint and several. SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Balance Sheets March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ - $ 93,466 $ 1,054 $ 57,048 $ - $ 151,568 Accounts receivable, net - 33 333,795 86,983 - 420,811 Intercompany accounts receivable - 15,096 71,698 3,752 (90,546) - Other current assets - 11,087 118,721 50,079 - 179,887 Total current assets - 119,682 525,268 197,862 (90,546) 752,266 Property, plant and equipment, net - 9,981 881,610 169,766 - 1,061,357 Operating lease right-of-use assets - 20,785 68,086 14,211 - 103,082 Goodwill - - 80,544 56,951 - 137,495 Notes receivable - - 64,993 - - 64,993 Long-term intercompany accounts receivable 2,247,345 - 2,032,421 182,186 (4,461,952) - Equity investments of consolidated subsidiaries (1,999,279) 3,748,111 6,721 - (1,755,553) - Restricted cash - - 2,677 45 - 2,722 Intangible and other long-term assets, net - 19,636 98,608 7,176 - 125,420 Total assets $ 248,066 $ 3,918,195 $ 3,760,928 $ 628,197 $ (6,308,051) $ 2,247,335 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ - $ 13,988 $ 83,417 $ 23,144 $ - $ 120,549 Accrued expenses - 86,259 108,566 34,400 - 229,225 Income taxes payable - (1,881) - 2,924 - 1,043 Intercompany accounts payable - 724 7,501 82,321 (90,546) - Current portion of decommissioning liabilities - - - 3,565 - 3,565 Total current liabilities - 99,090 199,484 146,354 (90,546) 354,382 Long-term debt, net - 1,283,862 - - - 1,283,862 Decommissioning liabilities - - 128,062 - - 128,062 Operating lease liabilities - 21,252 47,502 9,630 - 78,384 Long-term intercompany accounts payable - 4,461,952 - - (4,461,952) - Other long-term liabilities - 51,318 77,062 26,199 - 154,579 Total stockholders' equity (deficit) 248,066 (1,999,279) 3,308,818 446,014 (1,755,553) 248,066 Total liabilities and stockholders' equity $ 248,066 $ 3,918,195 $ 3,760,928 $ 628,197 $ (6,308,051) $ 2,247,335 SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Balance Sheets December 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ - $ 102,224 $ 707 $ 55,119 $ - $ 158,050 Accounts receivable, net - 160 367,497 79,696 - 447,353 Intercompany accounts receivable - 12,279 74,906 3,489 (90,674) - Other current assets - 12,805 111,560 43,137 - 167,502 Total current assets - 127,468 554,670 181,441 (90,674) 772,905 Property, plant and equipment, net - 10,129 920,978 178,019 - 1,109,126 Goodwill - - 80,544 56,244 - 136,788 Notes receivable - - 63,993 - - 63,993 Long-term intercompany accounts receivable 2,243,431 - 1,991,912 182,284 (4,417,627) - Equity investments of consolidated subsidiaries (1,952,647) 3,754,887 5,992 - (1,808,232) - Restricted cash - - 5,653 45 - 5,698 Intangible and other long-term assets, net - 19,255 100,847 7,350 - 127,452 Total assets $ 290,784 $ 3,911,739 $ 3,724,589 $ 605,383 $ (6,316,533) $ 2,215,962 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ - $ 8,807 $ 109,903 $ 20,615 $ - $ 139,325 Accrued expenses 45 102,845 86,926 29,364 - 219,180 Income taxes payable - 1,237 - (503) - 734 Intercompany accounts payable - 724 6,869 83,081 (90,674) - Current portion of decommissioning liabilities - - - 3,538 - 3,538 Total current liabilities 45 113,613 203,698 136,095 (90,674) 362,777 Long-term debt, net - 1,282,921 - - - 1,282,921 Decommissioning liabilities - - 126,558 - - 126,558 Long-term intercompany accounts payable - 4,417,627 - - (4,417,627) - Other long-term liabilities - 50,225 76,543 26,199 - 152,967 Total stockholders' equity (deficit) 290,739 (1,952,647) 3,317,790 443,089 (1,808,232) 290,739 Total liabilities and stockholders' equity $ 290,784 $ 3,911,739 $ 3,724,589 $ 605,383 $ (6,316,533) $ 2,215,962 SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Operations Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ - $ - $ 391,392 81,899 (6,115) $ 467,176 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) - (819) 280,978 56,119 (6,115) 330,163 Depreciation, depletion, amortization and accretion - 950 71,563 9,926 - 82,439 General and administrative expenses - 24,322 39,416 10,107 - 73,845 Income (loss) from operations - (24,453) (565) 5,747 - (19,271) Other income (expense): Interest expense, net - (26,382) 1,227 34 - (25,121) Other income (expense) - (791) 98 (919) - (1,612) Equity in earnings (losses) of consolidated subsidiaries (47,705) (7,848) 729 - 54,824 - Income (loss) from operations before income taxes (47,705) (59,474) 1,489 4,862 54,824 (46,004) Income taxes - (11,769) 10,459 3,011 - 1,701 Net income (loss) (47,705) (47,705) (8,970) 1,851 54,824 (47,705) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Consolidating Statements of Comprehensive Loss Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ (47,705) $ (47,705) $ (8,970) $ 1,851 $ 54,824 $ (47,705) Change in cumulative translation adjustment, net of tax 1,073 1,073 - 1,073 (2,146) 1,073 Comprehensive income (loss) $ (46,632) $ (46,632) $ (8,970) $ 2,924 $ 52,678 $ (46,632) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Operations Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ - $ - $ 435,134 $ 53,259 $ (6,075) $ 482,318 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) - (2,626) 311,064 41,097 (6,075) 343,460 Depreciation, depletion, amortization and accretion - 1,019 92,714 11,986 - 105,719 General and administrative expenses - 25,664 38,689 11,467 - 75,820 Loss from operations - (24,057) (7,333) (11,291) - (42,681) Other income (expense): Interest expense, net - (25,870) 967 16 - (24,887) Other income (expense) - (66) 274 (1,943) - (1,735) Equity in losses of consolidated subsidiaries (59,724) (17,470) (168) - 77,362 - Loss from continuing operations before income taxes (59,724) (67,463) (6,260) (13,218) 77,362 (69,303) Income taxes - (7,739) (1,076) (540) - (9,355) Net loss from continuing operations (59,724) (59,724) (5,184) (12,678) 77,362 (59,948) Loss from discontinued operations, net of income tax - - - 224 - 224 Net loss $ (59,724) $ (59,724) $ (5,184) $ (12,454) $ 77,362 $ (59,724) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Consolidating Statements of Comprehensive Loss Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Net loss $ (59,724) $ (59,724) $ (5,184) $ (12,454) $ 77,362 $ (59,724) Change in cumulative translation adjustment, net of tax 4,388 4,388 - 4,388 (8,776) 4,388 Comprehensive loss $ (55,336) $ (55,336) $ (5,184) $ (8,066) $ 68,586 $ (55,336) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 5,581 $ (49,421) $ 67,883 $ 3,336 $ 27,379 Cash flows from investing activities: Payments for capital expenditures - (845) (38,909) (1,406) (41,160) Proceeds from sales of assets - - 5,066 - 5,066 Net cash used in investing activities - (845) (33,843) (1,406) (36,094) Cash flows from financing activities: Changes in notes with affiliated companies, net (3,914) 41,508 (36,669) (925) - Other (1,667) - - - (1,667) Net cash provided by (used in) financing activities (5,581) 41,508 (36,669) (925) (1,667) Effect of exchange rate changes on cash - - - 924 924 Net change in cash, cash equivalents, and restricted cash - (8,758) (2,629) 1,929 (9,458) Cash, cash equivalents, and restricted cash at beginning of period - 102,224 6,360 55,164 163,748 Cash, cash equivalents, and restricted cash at end of period $ - $ 93,466 $ 3,731 $ 57,093 $ 154,290 SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 6,229 $ (42,958) $ 17,549 $ (15,047) $ 9,269 $ (24,958) Cash flows from investing activities: Payments for capital expenditures - - (63,489) (2,245) - (65,734) Other - - 2,003 10,132 - 12,135 Net cash used in investing activities - - (61,486) 7,887 - (53,599) Cash flows from financing activities: Proceeds from issuance of short-term debt - - - 744 - 744 Intercompany dividends - - - 9,269 (9,269) - Changes in notes with affiliated companies, net (845) (41,727) 44,181 (1,609) - - Other (5,384) (75) - - - (5,459) Net cash provided by (used in) financing activities (6,229) (41,802) 44,181 8,404 (9,269) (4,715) Effect of exchange rate changes on cash - - - 1,812 - 1,812 Net change in cash, cash equivalents, and restricted cash - (84,760) 244 3,056 - (81,460) Cash, cash equivalents, and restricted cash at beginning of period - 126,533 20,923 45,027 - 192,483 Cash, cash equivalents, and restricted cash at end of period $ - $ 41,773 $ 21,167 $ 48,083 $ - $ 111,023 |
Revenue (Tables)
| Revenue (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Revenue [Abstract] | |
| Disaggregation Of Revenues | Three Months Ended March 31, 2019 2018 U.S. land Drilling Products and Services $ 48,217 $ 40,717 Onshore Completion and Workover Services 205,038 231,489 Production Services 40,666 52,457 Technical Solutions 11,920 6,833 Total U.S. land $ 305,841 $ 331,496 U.S. offshore Drilling Products and Services $ 29,067 $ 20,989 Onshore Completion and Workover Services - - Production Services 19,272 17,500 Technical Solutions 20,933 37,562 Total U.S. offshore $ 69,272 $ 76,051 International Drilling Products and Services $ 23,795 $ 23,496 Onshore Completion and Workover Services - - Production Services 43,512 30,760 Technical Solutions 24,756 20,515 Total International $ 92,063 $ 74,771 Total Revenues $ 467,176 $ 482,318 The following table presents the Company’s revenues by segment disaggregated by type (in thousands): Three Months Ended March 31, 2019 2018 Services Drilling Products and Services $ 31,121 $ 24,005 Onshore Completion and Workover Services 194,417 221,347 Production Services 94,848 94,614 Technical Solutions 55,753 59,802 Total services $ 376,139 $ 399,768 Rentals Drilling Products and Services $ 69,958 $ 61,197 Onshore Completion and Workover Services 10,621 10,142 Production Services 8,602 6,103 Technical Solutions 1,856 5,108 Total rentals $ 91,037 $ 82,550 Total Revenues $ 467,176 $ 482,318 |
Inventory (Tables)
| Inventory (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Inventory [Abstract] | |
| Components Of Inventory | March 31, 2019 December 31, 2018 Finished goods $ 54,931 $ 54,144 Raw materials 17,358 16,795 Work-in-process 7,992 5,544 Supplies and consumables 34,064 30,822 Total $ 114,345 $ 107,305 |
Debt (Tables)
| Debt (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Debt [Abstract] | |
| Schedule Of Long-Term Debt | March 31, 2019 December 31, 2018 Long-term Long-term Senior unsecured notes due September 2024 $ 500,000 $ 500,000 Senior unsecured notes due December 2021 800,000 800,000 Total debt, gross 1,300,000 1,300,000 Unamortized debt issuance costs (16,138) (17,079) Total debt, net $ 1,283,862 $ 1,282,921 |
Leases (Tables)
| Leases (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Leases [Abstract] | |
| Supplemental Balance Sheet Information | March 31, 2019 Operating lease ROU assets $ 103,082 Accrued expenses $ 27,589 Operating lease liabilities 78,384 Total operating lease liabilities $ 105,973 Cash paid for operating leases $ 8,742 ROU assets obtained in exchange for lease obligations $ 6,877 Weighted average remaining lease term 8 years Weighted average discount rate 6.75% |
| Maturities Of Operating Lease Liabilities | Remainder of 2019 $ 24,890 2020 27,169 2021 20,317 2022 11,847 2023 7,341 Thereafter 48,535 Total lease payments 140,099 Less imputed interest (34,126) Total $ 105,973 |
Fair Value Measurements (Tables
| Fair Value Measurements (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Fair Value Measurements [Abstract] | |
| Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Fair Value at March 31, 2019 Level 1 Level 2 Level 3 Total Intangible and other long-term assets, net: Non-qualified deferred compensation assets $ - $ 14,183 $ - $ 14,183 Accounts payable: Non-qualified deferred compensation liabilities $ - $ 1,329 $ - $ 1,329 Other long-term liabilities: Non-qualified deferred compensation liabilities $ - $ 20,961 $ - $ 20,961 Total debt $ 1,141,127 $ - $ - $ 1,141,127 Fair Value at December 31, 2018 Level 1 Level 2 Level 3 Total Intangible and other long-term assets, net: Non-qualified deferred compensation assets $ 376 $ 12,930 $ - $ 13,306 Accounts payable: Non-qualified deferred compensation liabilities $ - $ 1,138 $ - $ 1,138 Other long-term liabilities: Non-qualified deferred compensation liabilities $ - $ 19,766 $ - $ 19,766 Total debt $ 1,084,711 $ - $ - $ 1,084,711 |
Segment Information (Tables)
| Segment Information (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Segment Information [Abstract] | |
| Schedule Of Segment Reporting Information By Segment | Three Months Ended March 31, 2019 Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total Revenues $ 101,079 $ 205,038 $ 103,450 $ 57,609 $ - $ 467,176 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) 42,205 171,799 79,881 36,278 - 330,163 Depreciation, depletion, amortization and accretion 23,026 37,743 14,140 6,310 1,220 82,439 General and administrative expenses 14,569 10,575 7,812 15,937 24,952 73,845 Income (loss) from operations 21,279 (15,079) 1,617 (916) (26,172) (19,271) Interest income (expense), net - - - 1,018 (26,139) (25,121) Other expense - - - - (1,612) (1,612) Income (loss) from continuing operations before income taxes $ 21,279 $ (15,079) $ 1,617 $ 102 $ (53,923) $ (46,004) Three Months Ended March 31, 2018 Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total Revenues $ 85,202 $ 231,489 $ 100,717 $ 64,910 $ - $ 482,318 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) 35,070 180,651 85,936 41,803 - 343,460 Depreciation, depletion, amortization and accretion 29,641 47,655 19,280 7,730 1,413 105,719 General and administrative expenses 12,524 13,226 9,593 14,060 26,417 75,820 Income (loss) from operations 7,967 (10,043) (14,092) 1,317 (27,830) (42,681) Interest income (expense), net - - - 956 (25,843) (24,887) Other expense - - - - (1,735) (1,735) Income (loss) from continuing operations before income taxes $ 7,967 $ (10,043) $ (14,092) $ 2,273 $ (55,408) $ (69,303) |
| Identifiable Assets | Identifiable Assets Onshore Drilling Completion Products and and Workover Production Technical Corporate and Consolidated Services Services Services Solutions Other Total March 31, 2019 $ 607,991 $ 743,319 $ 497,110 $ 331,877 $ 67,038 $ 2,247,335 December 31, 2018 $ 587,264 $ 808,037 $ 434,430 $ 340,161 $ 46,070 $ 2,215,962 |
| Revenue By Geographic Area | Revenues Three Months Ended March 31, 2019 2018 United States $ 375,113 $ 407,547 Other countries 92,063 74,771 Total $ 467,176 $ 482,318 Long-Lived Assets March 31, 2019 December 31, 2018 United States $ 867,831 $ 903,520 Other countries 193,526 205,606 Total $ 1,061,357 $ 1,109,126 |
Supplemental Guarantor Inform_2
| Supplemental Guarantor Information (Tables) | 3 Months Ended |
| Mar. 31, 2019 | |
| Supplemental Guarantor Information [Abstract] | |
| Condensed Consolidating Balance Sheets | SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Balance Sheets March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ - $ 93,466 $ 1,054 $ 57,048 $ - $ 151,568 Accounts receivable, net - 33 333,795 86,983 - 420,811 Intercompany accounts receivable - 15,096 71,698 3,752 (90,546) - Other current assets - 11,087 118,721 50,079 - 179,887 Total current assets - 119,682 525,268 197,862 (90,546) 752,266 Property, plant and equipment, net - 9,981 881,610 169,766 - 1,061,357 Operating lease right-of-use assets - 20,785 68,086 14,211 - 103,082 Goodwill - - 80,544 56,951 - 137,495 Notes receivable - - 64,993 - - 64,993 Long-term intercompany accounts receivable 2,247,345 - 2,032,421 182,186 (4,461,952) - Equity investments of consolidated subsidiaries (1,999,279) 3,748,111 6,721 - (1,755,553) - Restricted cash - - 2,677 45 - 2,722 Intangible and other long-term assets, net - 19,636 98,608 7,176 - 125,420 Total assets $ 248,066 $ 3,918,195 $ 3,760,928 $ 628,197 $ (6,308,051) $ 2,247,335 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ - $ 13,988 $ 83,417 $ 23,144 $ - $ 120,549 Accrued expenses - 86,259 108,566 34,400 - 229,225 Income taxes payable - (1,881) - 2,924 - 1,043 Intercompany accounts payable - 724 7,501 82,321 (90,546) - Current portion of decommissioning liabilities - - - 3,565 - 3,565 Total current liabilities - 99,090 199,484 146,354 (90,546) 354,382 Long-term debt, net - 1,283,862 - - - 1,283,862 Decommissioning liabilities - - 128,062 - - 128,062 Operating lease liabilities - 21,252 47,502 9,630 - 78,384 Long-term intercompany accounts payable - 4,461,952 - - (4,461,952) - Other long-term liabilities - 51,318 77,062 26,199 - 154,579 Total stockholders' equity (deficit) 248,066 (1,999,279) 3,308,818 446,014 (1,755,553) 248,066 Total liabilities and stockholders' equity $ 248,066 $ 3,918,195 $ 3,760,928 $ 628,197 $ (6,308,051) $ 2,247,335 SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Balance Sheets December 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ - $ 102,224 $ 707 $ 55,119 $ - $ 158,050 Accounts receivable, net - 160 367,497 79,696 - 447,353 Intercompany accounts receivable - 12,279 74,906 3,489 (90,674) - Other current assets - 12,805 111,560 43,137 - 167,502 Total current assets - 127,468 554,670 181,441 (90,674) 772,905 Property, plant and equipment, net - 10,129 920,978 178,019 - 1,109,126 Goodwill - - 80,544 56,244 - 136,788 Notes receivable - - 63,993 - - 63,993 Long-term intercompany accounts receivable 2,243,431 - 1,991,912 182,284 (4,417,627) - Equity investments of consolidated subsidiaries (1,952,647) 3,754,887 5,992 - (1,808,232) - Restricted cash - - 5,653 45 - 5,698 Intangible and other long-term assets, net - 19,255 100,847 7,350 - 127,452 Total assets $ 290,784 $ 3,911,739 $ 3,724,589 $ 605,383 $ (6,316,533) $ 2,215,962 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ - $ 8,807 $ 109,903 $ 20,615 $ - $ 139,325 Accrued expenses 45 102,845 86,926 29,364 - 219,180 Income taxes payable - 1,237 - (503) - 734 Intercompany accounts payable - 724 6,869 83,081 (90,674) - Current portion of decommissioning liabilities - - - 3,538 - 3,538 Total current liabilities 45 113,613 203,698 136,095 (90,674) 362,777 Long-term debt, net - 1,282,921 - - - 1,282,921 Decommissioning liabilities - - 126,558 - - 126,558 Long-term intercompany accounts payable - 4,417,627 - - (4,417,627) - Other long-term liabilities - 50,225 76,543 26,199 - 152,967 Total stockholders' equity (deficit) 290,739 (1,952,647) 3,317,790 443,089 (1,808,232) 290,739 Total liabilities and stockholders' equity $ 290,784 $ 3,911,739 $ 3,724,589 $ 605,383 $ (6,316,533) $ 2,215,962 |
| Condensed Consolidating Statements of Operations And Comprehensive Income | SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Operations Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ - $ - $ 391,392 81,899 (6,115) $ 467,176 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) - (819) 280,978 56,119 (6,115) 330,163 Depreciation, depletion, amortization and accretion - 950 71,563 9,926 - 82,439 General and administrative expenses - 24,322 39,416 10,107 - 73,845 Income (loss) from operations - (24,453) (565) 5,747 - (19,271) Other income (expense): Interest expense, net - (26,382) 1,227 34 - (25,121) Other income (expense) - (791) 98 (919) - (1,612) Equity in earnings (losses) of consolidated subsidiaries (47,705) (7,848) 729 - 54,824 - Income (loss) from operations before income taxes (47,705) (59,474) 1,489 4,862 54,824 (46,004) Income taxes - (11,769) 10,459 3,011 - 1,701 Net income (loss) (47,705) (47,705) (8,970) 1,851 54,824 (47,705) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Consolidating Statements of Comprehensive Loss Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ (47,705) $ (47,705) $ (8,970) $ 1,851 $ 54,824 $ (47,705) Change in cumulative translation adjustment, net of tax 1,073 1,073 - 1,073 (2,146) 1,073 Comprehensive income (loss) $ (46,632) $ (46,632) $ (8,970) $ 2,924 $ 52,678 $ (46,632) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Operations Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Revenues $ - $ - $ 435,134 $ 53,259 $ (6,075) $ 482,318 Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) - (2,626) 311,064 41,097 (6,075) 343,460 Depreciation, depletion, amortization and accretion - 1,019 92,714 11,986 - 105,719 General and administrative expenses - 25,664 38,689 11,467 - 75,820 Loss from operations - (24,057) (7,333) (11,291) - (42,681) Other income (expense): Interest expense, net - (25,870) 967 16 - (24,887) Other income (expense) - (66) 274 (1,943) - (1,735) Equity in losses of consolidated subsidiaries (59,724) (17,470) (168) - 77,362 - Loss from continuing operations before income taxes (59,724) (67,463) (6,260) (13,218) 77,362 (69,303) Income taxes - (7,739) (1,076) (540) - (9,355) Net loss from continuing operations (59,724) (59,724) (5,184) (12,678) 77,362 (59,948) Loss from discontinued operations, net of income tax - - - 224 - 224 Net loss $ (59,724) $ (59,724) $ (5,184) $ (12,454) $ 77,362 $ (59,724) SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Consolidating Statements of Comprehensive Loss Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Net loss $ (59,724) $ (59,724) $ (5,184) $ (12,454) $ 77,362 $ (59,724) Change in cumulative translation adjustment, net of tax 4,388 4,388 - 4,388 (8,776) 4,388 Comprehensive loss $ (55,336) $ (55,336) $ (5,184) $ (8,066) $ 68,586 $ (55,336) |
| Condensed Consolidating Statements Of Cash Flows | SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2019 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 5,581 $ (49,421) $ 67,883 $ 3,336 $ 27,379 Cash flows from investing activities: Payments for capital expenditures - (845) (38,909) (1,406) (41,160) Proceeds from sales of assets - - 5,066 - 5,066 Net cash used in investing activities - (845) (33,843) (1,406) (36,094) Cash flows from financing activities: Changes in notes with affiliated companies, net (3,914) 41,508 (36,669) (925) - Other (1,667) - - - (1,667) Net cash provided by (used in) financing activities (5,581) 41,508 (36,669) (925) (1,667) Effect of exchange rate changes on cash - - - 924 924 Net change in cash, cash equivalents, and restricted cash - (8,758) (2,629) 1,929 (9,458) Cash, cash equivalents, and restricted cash at beginning of period - 102,224 6,360 55,164 163,748 Cash, cash equivalents, and restricted cash at end of period $ - $ 93,466 $ 3,731 $ 57,093 $ 154,290 SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2018 (in thousands) (unaudited) Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 6,229 $ (42,958) $ 17,549 $ (15,047) $ 9,269 $ (24,958) Cash flows from investing activities: Payments for capital expenditures - - (63,489) (2,245) - (65,734) Other - - 2,003 10,132 - 12,135 Net cash used in investing activities - - (61,486) 7,887 - (53,599) Cash flows from financing activities: Proceeds from issuance of short-term debt - - - 744 - 744 Intercompany dividends - - - 9,269 (9,269) - Changes in notes with affiliated companies, net (845) (41,727) 44,181 (1,609) - - Other (5,384) (75) - - - (5,459) Net cash provided by (used in) financing activities (6,229) (41,802) 44,181 8,404 (9,269) (4,715) Effect of exchange rate changes on cash - - - 1,812 - 1,812 Net change in cash, cash equivalents, and restricted cash - (84,760) 244 3,056 - (81,460) Cash, cash equivalents, and restricted cash at beginning of period - 126,533 20,923 45,027 - 192,483 Cash, cash equivalents, and restricted cash at end of period $ - $ 41,773 $ 21,167 $ 48,083 $ - $ 111,023 |
Revenue (Disaggregation Of Reve
| Revenue (Disaggregation Of Revenues, By Geography) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | $ 467,176 | $ 482,318 |
| Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 101,079 | 85,202 |
| Onshore Completion and Workover Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 205,038 | 231,489 |
| Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 103,450 | 100,717 |
| Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 57,609 | 64,910 |
| U.S. Land [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 305,841 | 331,496 |
| U.S. Land [Member] | Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 48,217 | 40,717 |
| U.S. Land [Member] | Onshore Completion and Workover Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 205,038 | 231,489 |
| U.S. Land [Member] | Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 40,666 | 52,457 |
| U.S. Land [Member] | Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 11,920 | 6,833 |
| U.S. Offshore [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 69,272 | 76,051 |
| U.S. Offshore [Member] | Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 29,067 | 20,989 |
| U.S. Offshore [Member] | Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 19,272 | 17,500 |
| U.S. Offshore [Member] | Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 20,933 | 37,562 |
| International [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 92,063 | 74,771 |
| International [Member] | Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 23,795 | 23,496 |
| International [Member] | Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 43,512 | 30,760 |
| International [Member] | Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | $ 24,756 | $ 20,515 |
Revenue (Disaggregation Of Re_2
| Revenue (Disaggregation Of Revenues, By Type) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | $ 467,176 | $ 482,318 |
| Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 101,079 | 85,202 |
| Onshore Completion and Workover Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 205,038 | 231,489 |
| Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 103,450 | 100,717 |
| Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 57,609 | 64,910 |
| Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 376,139 | 399,768 |
| Services [Member] | Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 31,121 | 24,005 |
| Services [Member] | Onshore Completion and Workover Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 194,417 | 221,347 |
| Services [Member] | Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 94,848 | 94,614 |
| Services [Member] | Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 55,753 | 59,802 |
| Rentals [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 91,037 | 82,550 |
| Rentals [Member] | Drilling Products and Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 69,958 | 61,197 |
| Rentals [Member] | Onshore Completion and Workover Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 10,621 | 10,142 |
| Rentals [Member] | Production Services [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | 8,602 | 6,103 |
| Rentals [Member] | Technical Solutions [Member] | ||
| Disaggregation of Revenue [Line Items] | ||
| Total revenues | $ 1,856 | $ 5,108 |
Inventory (Details)
| Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
| Inventory [Abstract] | ||
| Finished goods | $ 54,931 | $ 54,144 |
| Raw materials | 17,358 | 16,795 |
| Work-in-process | 7,992 | 5,544 |
| Supplies and consumables | 34,064 | 30,822 |
| Total | $ 114,345 | $ 107,305 |
Notes Receivable (Details)
| Notes Receivable (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Notes Receivable [Abstract] | ||
| Amount of notes receivable | $ 115 | |
| Interest rate percentage to record present value of notes receivable | 6.58% | |
| Company recorded interest income | $ 1 | $ 1 |
Debt (Narrative) (Details)
| Debt (Narrative) (Details) | Mar. 31, 2019USD ($) |
| Debt Instrument [Line Items] | |
| Current borrowing capacity | $ 240,800,000 |
| Letters of Credit Outstanding, Amount | 73,200,000 |
| Senior Unsecured Notes Due 2021 [Member] | |
| Debt Instrument [Line Items] | |
| Debt issuance | $ 800,000,000 |
| Stated interest rate on unsecured senior notes | 7.125% |
| Senior Unsecured Notes Due 2024 [Member] | |
| Debt Instrument [Line Items] | |
| Debt issuance | $ 500,000,000 |
| Stated interest rate on unsecured senior notes | 7.75% |
Debt (Schedule Of Long Term Deb
| Debt (Schedule Of Long Term Debt) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
| Debt Instrument [Line Items] | ||
| Total debt, gross | $ 1,300,000 | $ 1,300,000 |
| Unamortized debt issuance costs | (16,138) | (17,079) |
| Total debt, net | 1,283,862 | 1,282,921 |
| Senior Unsecured Notes Due 2024 [Member] | ||
| Debt Instrument [Line Items] | ||
| Total debt, gross | 500,000 | 500,000 |
| Senior Unsecured Notes Due 2021 [Member] | ||
| Debt Instrument [Line Items] | ||
| Total debt, gross | $ 800,000 | $ 800,000 |
Decommissioning Liabilities (De
| Decommissioning Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
| Summary of the activity for the Company's decommissioning liabilities | ||
| Decommissioning liabilities | $ 131.6 | $ 130.1 |
Leases (Narrative) (Details)
| Leases (Narrative) (Details) - USD ($) | 3 Months Ended | ||
| Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
| Operarting lease expense | $ 15,700,000 | $ 13,500,000 | |
| Short-term lease expense | 5,400,000 | ||
| 2019 | 30,800,000 | ||
| 2020 | 24,300,000 | ||
| 2021 | 16,600,000 | ||
| 2022 | 9,800,000 | ||
| 2023 | 6,900,000 | ||
| Thereafter | 37,800,000 | ||
| Accounting Standards Update 2016-02 [Member] | |||
| Effect of change in accounting principle | $ 100,000,000 | ||
| Equity impact of adoption | $ 0 | ||
Leases (Supplemental Balance Sh
| Leases (Supplemental Balance Sheet Information) (Details) $ in Thousands | 3 Months Ended |
| Mar. 31, 2019USD ($) | |
| Leases [Abstract] | |
| Operating lease ROU assets | $ 103,082 |
| Accrued expenses | 27,589 |
| Operating lease liabilities | 78,384 |
| Total operating lease liabilities | 105,973 |
| Cash paid for operating leases | 8,742 |
| ROU assets obtained in exchange for lease obligations | $ 6,877 |
| Weighted average remaining lease term | 8 years |
| Weighted average discount rate | 6.75% |
Leases (Maturities Of Operating
| Leases (Maturities Of Operating Lease Liabilities) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
| Leases [Abstract] | |
| Remainder of 2019 | $ 24,890 |
| 2020 | 27,169 |
| 2021 | 20,317 |
| 2022 | 11,847 |
| 2023 | 7,341 |
| Thereafter | 48,535 |
| Total lease payments | 140,099 |
| Less imputed interest | (34,126) |
| Total | $ 105,973 |
Fair Value Measurements (Summar
| Fair Value Measurements (Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total debt | $ 1,141,127 | $ 1,084,711 |
| Non-Qualified Deferred Compensation Assets [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible and other long-term assets, net | 14,183 | 13,306 |
| Non Qualified Deferred Compensation Liabilities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Accounts payable | 1,329 | 1,138 |
| Other long-term liabilities | 20,961 | 19,766 |
| Level 1 [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total debt | 1,141,127 | 1,084,711 |
| Level 1 [Member] | Non-Qualified Deferred Compensation Assets [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible and other long-term assets, net | 376 | |
| Level 1 [Member] | Non Qualified Deferred Compensation Liabilities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Accounts payable | ||
| Other long-term liabilities | ||
| Level 2 [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total debt | ||
| Level 2 [Member] | Non-Qualified Deferred Compensation Assets [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible and other long-term assets, net | 14,183 | 12,930 |
| Level 2 [Member] | Non Qualified Deferred Compensation Liabilities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Accounts payable | 1,329 | 1,138 |
| Other long-term liabilities | 20,961 | 19,766 |
| Level 3 [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total debt | ||
| Level 3 [Member] | Non-Qualified Deferred Compensation Assets [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible and other long-term assets, net | ||
| Level 3 [Member] | Non Qualified Deferred Compensation Liabilities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Accounts payable | ||
| Other long-term liabilities |
Segment Information (Schedule O
| Segment Information (Schedule Of Segment Reporting Information By Segment And Identifiable Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
| Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
| Segment Reporting Information [Line Items] | |||
| Total revenues | $ 467,176 | $ 482,318 | |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization, and accretion) | 330,163 | 343,460 | |
| Depreciation, depletion, amortization and accretion | 82,439 | 105,719 | |
| General and administrative expenses | 73,845 | 75,820 | |
| Loss from operations | (19,271) | (42,681) | |
| Interest income (expense), net | (25,121) | (24,887) | |
| Other expense | (1,612) | (1,735) | |
| Loss from continuing operations before income taxes | (46,004) | (69,303) | |
| Identifiable Assets | 2,247,335 | $ 2,215,962 | |
| Drilling Products and Services [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 101,079 | 85,202 | |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization, and accretion) | 42,205 | 35,070 | |
| Depreciation, depletion, amortization and accretion | 23,026 | 29,641 | |
| General and administrative expenses | 14,569 | 12,524 | |
| Loss from operations | 21,279 | 7,967 | |
| Loss from continuing operations before income taxes | 21,279 | 7,967 | |
| Identifiable Assets | 607,991 | 587,264 | |
| Onshore Completion and Workover Services [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 205,038 | 231,489 | |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization, and accretion) | 171,799 | 180,651 | |
| Depreciation, depletion, amortization and accretion | 37,743 | 47,655 | |
| General and administrative expenses | 10,575 | 13,226 | |
| Loss from operations | (15,079) | (10,043) | |
| Loss from continuing operations before income taxes | (15,079) | (10,043) | |
| Identifiable Assets | 743,319 | 808,037 | |
| Production Services [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 103,450 | 100,717 | |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization, and accretion) | 79,881 | 85,936 | |
| Depreciation, depletion, amortization and accretion | 14,140 | 19,280 | |
| General and administrative expenses | 7,812 | 9,593 | |
| Loss from operations | 1,617 | (14,092) | |
| Loss from continuing operations before income taxes | 1,617 | (14,092) | |
| Identifiable Assets | 497,110 | 434,430 | |
| Technical Solutions [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 57,609 | 64,910 | |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization, and accretion) | 36,278 | 41,803 | |
| Depreciation, depletion, amortization and accretion | 6,310 | 7,730 | |
| General and administrative expenses | 15,937 | 14,060 | |
| Loss from operations | (916) | 1,317 | |
| Interest income (expense), net | 1,018 | 956 | |
| Loss from continuing operations before income taxes | 102 | 2,273 | |
| Identifiable Assets | 331,877 | 340,161 | |
| Corporate and Other [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Depreciation, depletion, amortization and accretion | 1,220 | 1,413 | |
| General and administrative expenses | 24,952 | 26,417 | |
| Loss from operations | (26,172) | (27,830) | |
| Interest income (expense), net | (26,139) | (25,843) | |
| Other expense | (1,612) | (1,735) | |
| Loss from continuing operations before income taxes | (53,923) | $ (55,408) | |
| Identifiable Assets | $ 67,038 | $ 46,070 | |
Segment Information (Revenue By
| Segment Information (Revenue By Geographic Area) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
| Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Revenues | $ 467,176 | $ 482,318 | |
| Long-lived assets | 1,061,357 | $ 1,109,126 | |
| United States [Member] | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Revenues | 375,113 | 407,547 | |
| Long-lived assets | 867,831 | 903,520 | |
| International [Member] | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Revenues | 92,063 | $ 74,771 | |
| Long-lived assets | $ 193,526 | $ 205,606 | |
Stock-Based Compensation Plans
| Stock-Based Compensation Plans (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Awards, Excluding ESPP [Member] | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Compensation expense | $ 8 | $ 7.9 |
Income Taxes (Details)
| Income Taxes (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
| Income Taxes [Abstract] | ||
| Unrecorded tax benefits | $ 30.6 | $ 30.6 |
Supplemental Guarantor Inform_3
| Supplemental Guarantor Information (Narrative) (Details) | 3 Months Ended |
| Mar. 31, 2019USD ($) | |
| Condensed Financial Statements, Captions [Line Items] | |
| Subsidiary ownership | 100.00% |
| Unsecured Senior Notes Due 2024 [Member] | |
| Condensed Financial Statements, Captions [Line Items] | |
| Unsecured senior notes | $ 500,000,000 |
| Stated interest rate on unsecured senior notes | 7.75% |
Supplemental Guarantor Inform_4
| Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
| Current assets: | ||||
| Cash and cash equivalents | $ 151,568 | $ 158,050 | ||
| Accounts receivable, net | 420,811 | 447,353 | ||
| Other current assets | 179,887 | 167,502 | ||
| Total current assets | 752,266 | 772,905 | ||
| Property, plant and equipment, net | 1,061,357 | 1,109,126 | ||
| Operating lease right-of-use assets | 103,082 | |||
| Goodwill | 137,495 | 136,788 | ||
| Notes receivable | 64,993 | 63,993 | ||
| Restricted cash | 2,722 | 5,698 | ||
| Intangible and other long-term assets, net | 125,420 | 127,452 | ||
| Total assets | 2,247,335 | 2,215,962 | ||
| Current liabilities: | ||||
| Accounts payable | 120,549 | 139,325 | ||
| Accrued expenses | 229,225 | 219,180 | ||
| Income taxes payable | 1,043 | 734 | ||
| Current portion of decommissioning liabilities | 3,565 | 3,538 | ||
| Total current liabilities | 354,382 | 362,777 | ||
| Long-term debt, net | 1,283,862 | 1,282,921 | ||
| Decommissioning liabilities | 128,062 | 126,558 | ||
| Operating lease liabilities | 78,384 | |||
| Other long-term liabilities | 154,579 | 152,967 | ||
| Total stockholders' equity | 248,066 | 290,739 | $ 1,078,169 | $ 1,132,429 |
| Total liabilities and stockholders' equity | 2,247,335 | 2,215,962 | ||
| Eliminations [Member] | ||||
| Current assets: | ||||
| Intercompany accounts receivable | (90,546) | (90,674) | ||
| Total current assets | (90,546) | (90,674) | ||
| Long-term intercompany accounts receivable | (4,461,952) | (4,417,627) | ||
| Equity investments of consolidated subsidiaries | (1,755,553) | (1,808,232) | ||
| Total assets | (6,308,051) | (6,316,533) | ||
| Current liabilities: | ||||
| Intercompany accounts payable | (90,546) | (90,674) | ||
| Total current liabilities | (90,546) | (90,674) | ||
| Long-term intercompany accounts payable | (4,461,952) | (4,417,627) | ||
| Total stockholders' equity | (1,755,553) | (1,808,232) | ||
| Total liabilities and stockholders' equity | (6,308,051) | (6,316,533) | ||
| Parent [Member] | ||||
| Current assets: | ||||
| Long-term intercompany accounts receivable | 2,247,345 | 2,243,431 | ||
| Equity investments of consolidated subsidiaries | (1,999,279) | (1,952,647) | ||
| Total assets | 248,066 | 290,784 | ||
| Current liabilities: | ||||
| Accrued expenses | 45 | |||
| Total current liabilities | 45 | |||
| Total stockholders' equity | 248,066 | 290,739 | ||
| Total liabilities and stockholders' equity | 248,066 | 290,784 | ||
| Issuer [Member] | ||||
| Current assets: | ||||
| Cash and cash equivalents | 93,466 | 102,224 | ||
| Accounts receivable, net | 33 | 160 | ||
| Intercompany accounts receivable | 15,096 | 12,279 | ||
| Other current assets | 11,087 | 12,805 | ||
| Total current assets | 119,682 | 127,468 | ||
| Property, plant and equipment, net | 9,981 | 10,129 | ||
| Operating lease right-of-use assets | 20,785 | |||
| Equity investments of consolidated subsidiaries | 3,748,111 | 3,754,887 | ||
| Intangible and other long-term assets, net | 19,636 | 19,255 | ||
| Total assets | 3,918,195 | 3,911,739 | ||
| Current liabilities: | ||||
| Accounts payable | 13,988 | 8,807 | ||
| Accrued expenses | 86,259 | 102,845 | ||
| Income taxes payable | (1,881) | 1,237 | ||
| Intercompany accounts payable | 724 | 724 | ||
| Total current liabilities | 99,090 | 113,613 | ||
| Long-term debt, net | 1,283,862 | 1,282,921 | ||
| Operating lease liabilities | 21,252 | |||
| Long-term intercompany accounts payable | 4,461,952 | 4,417,627 | ||
| Other long-term liabilities | 51,318 | 50,225 | ||
| Total stockholders' equity | (1,999,279) | (1,952,647) | ||
| Total liabilities and stockholders' equity | 3,918,195 | 3,911,739 | ||
| Guarantor Subsidiaries [Member] | ||||
| Current assets: | ||||
| Cash and cash equivalents | 1,054 | 707 | ||
| Accounts receivable, net | 333,795 | 367,497 | ||
| Intercompany accounts receivable | 71,698 | 74,906 | ||
| Other current assets | 118,721 | 111,560 | ||
| Total current assets | 525,268 | 554,670 | ||
| Property, plant and equipment, net | 881,610 | 920,978 | ||
| Operating lease right-of-use assets | 68,086 | |||
| Goodwill | 80,544 | 80,544 | ||
| Notes receivable | 64,993 | 63,993 | ||
| Long-term intercompany accounts receivable | 2,032,421 | 1,991,912 | ||
| Equity investments of consolidated subsidiaries | 6,721 | 5,992 | ||
| Restricted cash | 2,677 | 5,653 | ||
| Intangible and other long-term assets, net | 98,608 | 100,847 | ||
| Total assets | 3,760,928 | 3,724,589 | ||
| Current liabilities: | ||||
| Accounts payable | 83,417 | 109,903 | ||
| Accrued expenses | 108,566 | 86,926 | ||
| Intercompany accounts payable | 7,501 | 6,869 | ||
| Total current liabilities | 199,484 | 203,698 | ||
| Decommissioning liabilities | 128,062 | 126,558 | ||
| Operating lease liabilities | 47,502 | |||
| Other long-term liabilities | 77,062 | 76,543 | ||
| Total stockholders' equity | 3,308,818 | 3,317,790 | ||
| Total liabilities and stockholders' equity | 3,760,928 | 3,724,589 | ||
| Non-Guarantor Subsidiaries [Member] | ||||
| Current assets: | ||||
| Cash and cash equivalents | 57,048 | 55,119 | ||
| Accounts receivable, net | 86,983 | 79,696 | ||
| Intercompany accounts receivable | 3,752 | 3,489 | ||
| Other current assets | 50,079 | 43,137 | ||
| Total current assets | 197,862 | 181,441 | ||
| Property, plant and equipment, net | 169,766 | 178,019 | ||
| Operating lease right-of-use assets | 14,211 | |||
| Goodwill | 56,951 | 56,244 | ||
| Long-term intercompany accounts receivable | 182,186 | 182,284 | ||
| Restricted cash | 45 | 45 | ||
| Intangible and other long-term assets, net | 7,176 | 7,350 | ||
| Total assets | 628,197 | 605,383 | ||
| Current liabilities: | ||||
| Accounts payable | 23,144 | 20,615 | ||
| Accrued expenses | 34,400 | 29,364 | ||
| Income taxes payable | 2,924 | (503) | ||
| Intercompany accounts payable | 82,321 | 83,081 | ||
| Current portion of decommissioning liabilities | 3,565 | 3,538 | ||
| Total current liabilities | 146,354 | 136,095 | ||
| Operating lease liabilities | 9,630 | |||
| Other long-term liabilities | 26,199 | 26,199 | ||
| Total stockholders' equity | 446,014 | 443,089 | ||
| Total liabilities and stockholders' equity | $ 628,197 | $ 605,383 |
Supplemental Guarantor Inform_5
| Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Condensed Financial Statements, Captions [Line Items] | ||
| Revenues | $ 467,176 | $ 482,318 |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) | 330,163 | 343,460 |
| Depreciation, depletion, amortization and accretion | 82,439 | 105,719 |
| General and administrative expenses | 73,845 | 75,820 |
| Loss from operations | (19,271) | (42,681) |
| Other expense: | ||
| Interest expense, net | (25,121) | (24,887) |
| Other income (expense) | (1,612) | (1,735) |
| Loss from continuing operations before income taxes | (46,004) | (69,303) |
| Income taxes | 1,701 | (9,355) |
| Net loss from continuing operations | (47,705) | (59,948) |
| Loss from discontinued operations, net of income tax | 224 | |
| Net loss | (47,705) | (59,724) |
| Eliminations [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Revenues | (6,115) | (6,075) |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) | (6,115) | (6,075) |
| Other expense: | ||
| Equity in losses of consolidated subsidiaries | 54,824 | 77,362 |
| Loss from continuing operations before income taxes | 54,824 | 77,362 |
| Net loss from continuing operations | 77,362 | |
| Net loss | 54,824 | 77,362 |
| Parent [Member] | ||
| Other expense: | ||
| Equity in losses of consolidated subsidiaries | (47,705) | (59,724) |
| Loss from continuing operations before income taxes | (47,705) | (59,724) |
| Net loss from continuing operations | (59,724) | |
| Net loss | (47,705) | (59,724) |
| Issuer [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) | (819) | (2,626) |
| Depreciation, depletion, amortization and accretion | 950 | 1,019 |
| General and administrative expenses | 24,322 | 25,664 |
| Loss from operations | (24,453) | (24,057) |
| Other expense: | ||
| Interest expense, net | (26,382) | (25,870) |
| Other income (expense) | (791) | (66) |
| Equity in losses of consolidated subsidiaries | (7,848) | (17,470) |
| Loss from continuing operations before income taxes | (59,474) | (67,463) |
| Income taxes | (11,769) | (7,739) |
| Net loss from continuing operations | (59,724) | |
| Net loss | (47,705) | (59,724) |
| Guarantor Subsidiaries [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Revenues | 391,392 | 435,134 |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) | 280,978 | 311,064 |
| Depreciation, depletion, amortization and accretion | 71,563 | 92,714 |
| General and administrative expenses | 39,416 | 38,689 |
| Loss from operations | (565) | (7,333) |
| Other expense: | ||
| Interest expense, net | 1,227 | 967 |
| Other income (expense) | 98 | 274 |
| Equity in losses of consolidated subsidiaries | 729 | (168) |
| Loss from continuing operations before income taxes | 1,489 | (6,260) |
| Income taxes | 10,459 | (1,076) |
| Net loss from continuing operations | (5,184) | |
| Net loss | (8,970) | (5,184) |
| Non-Guarantor Subsidiaries [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Revenues | 81,899 | 53,259 |
| Cost of services and rentals (exclusive of depreciation, depletion, amortization and accretion) | 56,119 | 41,097 |
| Depreciation, depletion, amortization and accretion | 9,926 | 11,986 |
| General and administrative expenses | 10,107 | 11,467 |
| Loss from operations | 5,747 | (11,291) |
| Other expense: | ||
| Interest expense, net | 34 | 16 |
| Other income (expense) | (919) | (1,943) |
| Loss from continuing operations before income taxes | 4,862 | (13,218) |
| Income taxes | 3,011 | (540) |
| Net loss from continuing operations | (12,678) | |
| Loss from discontinued operations, net of income tax | 224 | |
| Net loss | $ 1,851 | $ (12,454) |
Supplemental Guarantor Inform_6
| Supplemental Guarantor Information (Consolidating Statements of Comprehensive Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | $ (47,705) | $ (59,724) |
| Change in cumulative translation adjustment, net of tax | 1,073 | 4,388 |
| Comprehensive loss | (46,632) | (55,336) |
| Eliminations [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | 54,824 | 77,362 |
| Change in cumulative translation adjustment, net of tax | (2,146) | (8,776) |
| Comprehensive loss | 52,678 | 68,586 |
| Parent [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | (47,705) | (59,724) |
| Change in cumulative translation adjustment, net of tax | 1,073 | 4,388 |
| Comprehensive loss | (46,632) | (55,336) |
| Issuer [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | (47,705) | (59,724) |
| Change in cumulative translation adjustment, net of tax | 1,073 | 4,388 |
| Comprehensive loss | (46,632) | (55,336) |
| Guarantor Subsidiaries [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | (8,970) | (5,184) |
| Comprehensive loss | (8,970) | (5,184) |
| Non-Guarantor Subsidiaries [Member] | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Net income (loss) | 1,851 | (12,454) |
| Change in cumulative translation adjustment, net of tax | 1,073 | 4,388 |
| Comprehensive loss | $ 2,924 | $ (8,066) |
Supplemental Guarantor Inform_7
| Supplemental Guarantor Information (Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2019 | Mar. 31, 2018 | |
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | $ 27,379 | $ (24,958) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (41,160) | (65,734) |
| Proceeds from sales of assets | 5,066 | 12,135 |
| Net cash used in investing activities | (36,094) | (53,599) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of short-term debt | 744 | |
| Other | (1,667) | (5,459) |
| Net cash provided by (used in) financing activities | (1,667) | (4,715) |
| Effect of exchange rate changes on cash | 924 | 1,812 |
| Net change in cash, cash equivalents, and restricted cash | (9,458) | (81,460) |
| Cash, cash equivalents, and restricted cash at beginning of period | 163,748 | 192,483 |
| Cash, cash equivalents, and restricted cash at end of period | 154,290 | 111,023 |
| Eliminations [Member] | ||
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | 9,269 | |
| Cash flows from financing activities: | ||
| Intercompany dividends | (9,269) | |
| Net cash provided by (used in) financing activities | (9,269) | |
| Parent [Member] | ||
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | 5,581 | 6,229 |
| Cash flows from financing activities: | ||
| Changes in notes with affiliated companies, net | (3,914) | (845) |
| Other | (1,667) | (5,384) |
| Net cash provided by (used in) financing activities | (5,581) | (6,229) |
| Issuer [Member] | ||
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | (49,421) | (42,958) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (845) | |
| Net cash used in investing activities | (845) | |
| Cash flows from financing activities: | ||
| Changes in notes with affiliated companies, net | 41,508 | (41,727) |
| Other | (75) | |
| Net cash provided by (used in) financing activities | 41,508 | (41,802) |
| Net change in cash, cash equivalents, and restricted cash | (8,758) | (84,760) |
| Cash, cash equivalents, and restricted cash at beginning of period | 102,224 | 126,533 |
| Cash, cash equivalents, and restricted cash at end of period | 93,466 | 41,773 |
| Guarantor Subsidiaries [Member] | ||
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | 67,883 | 17,549 |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (38,909) | (63,489) |
| Proceeds from sales of assets | 5,066 | 2,003 |
| Net cash used in investing activities | (33,843) | (61,486) |
| Cash flows from financing activities: | ||
| Changes in notes with affiliated companies, net | (36,669) | 44,181 |
| Net cash provided by (used in) financing activities | (36,669) | 44,181 |
| Net change in cash, cash equivalents, and restricted cash | (2,629) | 244 |
| Cash, cash equivalents, and restricted cash at beginning of period | 6,360 | 20,923 |
| Cash, cash equivalents, and restricted cash at end of period | 3,731 | 21,167 |
| Non-Guarantor Subsidiaries [Member] | ||
| Cash flows from operating activities: | ||
| Net cash provided by (used in) operating activities | 3,336 | (15,047) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (1,406) | (2,245) |
| Proceeds from sales of assets | 10,132 | |
| Net cash used in investing activities | (1,406) | 7,887 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of short-term debt | 744 | |
| Intercompany dividends | 9,269 | |
| Changes in notes with affiliated companies, net | (925) | (1,609) |
| Net cash provided by (used in) financing activities | (925) | 8,404 |
| Effect of exchange rate changes on cash | 924 | 1,812 |
| Net change in cash, cash equivalents, and restricted cash | 1,929 | 3,056 |
| Cash, cash equivalents, and restricted cash at beginning of period | 55,164 | 45,027 |
| Cash, cash equivalents, and restricted cash at end of period | $ 57,093 | $ 48,083 |