Superior Energy Services 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-34037
Entity Registrant Name	SUPERIOR ENERGY SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2379388
Entity Address, Address Line One	1001 Louisiana Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	654-2200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Central Index Key	0000886835
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		19,998,695
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		76,269

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 359,511,000	$ 314,974,000
Accounts receivable, net	197,602,000	182,432,000
Income taxes receivable	5,578,000	5,099,000
Prepaid expenses	16,037,000	15,861,000
Inventory	59,830,000	60,603,000
Investment in equity securities	26,605,000	25,735,000
Other current assets	5,748,000	6,701,000
Assets held for sale	28,491,000	37,528,000
Total current assets	699,402,000	648,933,000
Property, plant and equipment, net	331,499,000	356,274,000
Notes receivable	61,566,000	60,588,000
Restricted cash	79,561,000	79,561,000
Other long-term assets, net	52,331,000	54,152,000
Total assets	1,224,359,000	1,199,508,000
Current liabilities:
Accounts payable	43,573,000	43,080,000
Accrued expenses	107,027,000	108,610,000
Income taxes payable	12,990,000	8,272,000
Liabilities held for sale	3,678,000	5,607,000
Total current liabilities	167,268,000	165,569,000
Decommissioning liabilities	193,041,000	190,380,000
Deferred income taxes	9,725,000	12,441,000
Other long-term liabilities	86,281,000	89,385,000
Total liabilities	456,315,000	457,775,000
Stockholders’ equity (deficit):
Accumulated deficit	(136,452,000)	(162,178,000)
Total stockholders' equity	768,044,000	741,733,000
Total liabilities and stockholders' equity	1,224,359,000	1,199,508,000
Common Class A [Member]
Stockholders’ equity (deficit):
Common Stock $0.001 par value	200,000	200,000
Additional paid in capital	902,486,000	902,486,000
Common Class B [Member]
Stockholders’ equity (deficit):
Common Stock $0.001 par value	1,000	1,000
Additional paid in capital	$ 1,809,000	$ 1,224,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Common Class A [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	19,998,695	19,998,695
Common stock, shares outstanding	19,998,695	19,998,695
Common Class B [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	2,000,000	2,000,000
Common stock, shares issued	113,840	76,269
Common stock, shares outstanding	113,840	76,269

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Revenues:
Total revenues	$ 45,928	$ 105,843	$ 197,930
Costs and expenses:
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)	29,773	68,037	112,380
Depreciation, depletion, amortization and accretion	8,358	40,030	34,085
General and administrative expenses	11,052	18,438	32,018
Restructuring expense	1,270	8,383	1,555
Other (gains) and losses, net		(169)	1,147
Income (loss) from operations	(4,525)	(28,876)	16,745
Other income (expense):
Interest income (expense), net	202	212	1,179
Reorganization items, net	335,560
Other income (expense)	(2,105)	(2,845)	13,947
Income (loss) from continuing operations before income taxes	329,132	(31,509)	31,871
Income tax (expense) benefit	(60,003)	4,285	(7,884)
Net income (loss) from continuing operations	269,129	(27,224)	23,987
Income (loss) from discontinued operations, net of income tax	(352)	(9,406)	1,739
Net income (loss)	$ 268,777	$ (36,630)	$ 25,726
Income (loss) per share -basic
Net income (loss) from continuing operations	$ 18.13	$ (1.36)	$ 1.20
Income (loss) from discontinued operations, net of income tax	(0.02)	(0.47)	0.09
Net income (loss)	18.11	(1.83)	1.29
Income (loss) per share - diluted:
Net income (loss) from continuing operations	18.06	(1.36)	1.20
Income (loss) from discontinued operations, net of income tax	(0.03)	(0.47)	0.08
Net income (loss)	$ 18.03	$ (1.83)	$ 1.28
Weighted Average Number of Shares Outstanding, Basic	14,845	19,996	19,999
Weighted Average Number of Shares Outstanding, Diluted	14,905	19,996	20,056
Services [Member]
Revenues:
Total revenues	$ 19,234	$ 43,679	$ 91,439
Costs and expenses:
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)	15,080	41,471	62,216
Depreciation, depletion, amortization and accretion	3,500	16,364	13,666
Rentals [Member]
Revenues:
Total revenues	14,434	31,314	67,162
Costs and expenses:
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)	5,876	10,199	24,613
Depreciation, depletion, amortization and accretion	2,627	11,901	10,037
Product Sales [Member]
Revenues:
Total revenues	12,260	30,850	39,329
Costs and expenses:
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)	8,817	16,367	25,551
Depreciation, depletion, amortization and accretion	$ 2,231	$ 11,765	$ 10,382

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Consolidated Statements of Comprehensive Loss [Abstract]
Net income (loss)	$ 268,777	$ (36,630)	$ 25,726
Change in cumulative translation adjustment, net of tax	67,947	0	0
Comprehensive income (loss)	$ 336,724	$ (36,630)	$ 25,726

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Changes In Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]Common Class A [Member]	Additional Paid-in Capital [Member]Common Class B [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss, Net [Member]	Accumulated Deficit [Member]
Beginning balance, value at Dec. 31, 2020	$ (338,647)	$ 16		$ 2,756,889		$ (4,290)	$ (67,947)	$ (3,023,315)
Beginning balance, shares at Dec. 31, 2020		15,799
Net income (loss)	268,777							268,777
Foreign currency translation adjustment	67,947						$ 67,947
Extinguishment of unrecognized compensation expense	988			988
Stock-based compensation expense, net	935			935
Restricted stock units vested		49
Shares withheld and retired, shares		15
Cancellation of Predecessor equity, shares		(15,833)
Cancellation of Predecessor equity, value		$ (16)		(2,758,812)		$ 4,290		2,754,538
Common stock issued,shares		19,996
Common stock issued,value	902,686	$ 200		902,486
Ending balance, value at Feb. 02, 2021	902,686	$ 200		902,486
Ending balance, shares at Feb. 02, 2021		19,996
Net income (loss)	(36,630)							(36,630)
Foreign currency translation adjustment	0
Ending balance, value at Mar. 31, 2021	866,056	$ 200		902,486				(36,630)
Ending balance, shares at Mar. 31, 2021		19,996
Beginning balance, value at Dec. 31, 2021	741,733	$ 200	$ 1	902,486	$ 1,224			(162,178)
Beginning balance, shares at Dec. 31, 2021		19,999	76
Net income (loss)	25,726							25,726
Foreign currency translation adjustment	0
Stock-based compensation expense, net	585				585
Ending balance, value at Mar. 31, 2022	$ 768,044	$ 200	$ 1	$ 902,486	$ 1,809			$ (136,452)
Ending balance, shares at Mar. 31, 2022		19,999	76

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 268,777	$ (36,630)	$ 25,726
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	10,499	52,805	34,085
Deferred income taxes	54,322	(5,051)	(2,769)
Amortization of Credit Facility Costs	0	82	127
Stock-based compensation expense	935	0	585
Reorganization items, net	(354,279)	0	0
Bad debt	(210)	(4,398)	(1,203)
Gain on sale of assets and businesses	58	0	0
Gain on sale of equity securities	0	0	(1,761)
Unrealized gain on investment in equity securities	0	0	(6,474)
Other gains and losses, net	0	(2,669)	(5,755)
Other reconciling items, net	1,017	(246)	(1)
Changes in operating assets and liabilities:
Accounts receivable	3,602	2,414	(13,359)
Prepaid expense	(340)	(4,625)	(176)
Inventory and other current assets	(221)	2,496	1,562
Accounts payable	(2,365)	4,592	3,888
Accrued expenses	23,489	9,857	(3,673)
Income taxes	340	5,134	4,239
Other, net	(241)	(2,360)	(49)
Net cash provided by operating activities	5,383	21,401	35,090
Cash flows from investing activities:
Payments for capital expenditures	(3,035)	(4,119)	(11,297)
Proceeds from sales of assets	775	7,148	13,379
Proceeds from sales of equity securities	0	0	7,365
Net cash from investing activities	(2,260)	3,029	9,447
Cash flows from financing activities:
Credit facility costs	(1,920)	(14)	0
Net cash from financing activities	(1,920)	(14)	0
Effect of exchange rate changes on cash	311	0	0
Net change in cash, cash equivalents, and restricted cash	1,514	24,416	44,537
Cash, cash equivalents, and restricted cash beginning of period		269,698	394,535
Cash, cash equivalents, and restricted cash at end of period	$ 269,698	$ 294,114	$ 439,072

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Disclosure Text Block [Abstract]
Basis of Presentation	(1) Basis of Presentation Certain information and footnote disclosures normally included 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 (the “SEC”); however, management believes the disclosures that are made are adequate to make the information presented not misleading. As used herein, “we,” “us” and similar terms refer to (i) prior to the Emergence Date (as defined below), SESI Holdings, Inc. (formerly known as Superior Energy Services, Inc.) and its subsidiaries (“Predecessor”) and (ii) after the Emergence Date, Superior Energy Services, Inc. (formerly known as Superior Newco, Inc.) and its subsidiaries (“Successor”). Due to our adoption of fresh start accounting, discussed below, our operations for the three months ended March 31, 2021 are separated by the operations which occurred from January 1, 2021 through February 2, 2021 (the “Predecessor Period”) and the operations that occurred from February 3, 2021 through March 31, 2021 (the “Successor Period”). These financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. As described below, as a result of the application of fresh start accounting and the effects of the implementation of the Plan (as defined below), the financial statements after the Emergence Date are not comparable with the consolidated financial statements on or before that date. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments, consisting primarily of normal recurring adjustments, necessary for a fair statement of our financial position as of March 31, 2022, and our results of operations and cash flows for the three months ended March 31, 2022 and 2021. The balance sheet as of December 31, 2021, was derived from our audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. Emergence from Voluntary Reorganization under Chapter 11 On December 7, 2020, certain of our direct and indirect wholly-owned domestic subsidiaries (the “Affiliate Debtors”) filed petitions for reorganization under the provisions of Chapter 11 of the Bankruptcy Code and, in connection therewith, filed the proposed Joint Prepackaged Plan of Reorganization (as amended, modified or supplemented from time to time, the “Plan”). On February 2, 2021 (the “Emergence Date”), the conditions to the effectiveness of the Plan were satisfied and we emerged from Chapter 11. On the Emergence Date, we qualified for and adopted fresh start accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 852 – Reorganizations, which specifies the accounting and financial reporting requirements for entities reorganizing through Chapter 11 bankruptcy proceedings. The application of fresh start accounting resulted in a new basis of accounting and we became a new entity for financial reporting purposes. As a result of the implementation of the Plan and the application of fresh start accounting, our historical financial statements on or before the Emergence Date are not a reliable indicator of our results of operations for any period after our adoption of fresh start accounting. Use of Estimates In preparing the accompanying financial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities reported as of the dates of the balance sheets and the amounts of revenues and expenses reported for the periods shown in the income statements and statements of cash flows. All estimates, assumptions, valuations and financial projections related to fresh start accounting, including the fair value adjustments, the enterprise value and equity value projections, are inherently subject to significant uncertainties and the resolution of contingencies beyond our control.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue [Abstract]
Revenue	(2) Revenue Disaggregation of Revenue The following table presents our revenues by segment disaggregated by geography (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period U.S. land Rentals $ 33,962 $ 11,109 $ 4,917 Well Services 4,548 2,126 3,379 Total U.S. land 38,510 13,235 8,296 U.S. offshore Rentals 32,753 20,403 8,196 Well Services 28,321 19,421 7,371 Total U.S. offshore 61,074 39,824 15,567 International Rentals 22,041 10,936 5,226 Well Services 76,305 41,848 16,839 Total International 98,346 52,784 22,065 Total Revenues $ 197,930 $ 105,843 $ 45,928 The following table presents our revenues by segment disaggregated by type (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Services Rentals $ 11,158 $ 6,264 $ 2,005 Well Services 80,281 37,415 17,229 Total Services 91,439 43,679 19,234 Rentals Rentals 65,247 28,593 14,082 Well Services 1,915 2,721 352 Total Rentals 67,162 31,314 14,434 Product Sales Rentals 12,351 7,591 2,252 Well Services 26,978 23,259 10,008 Total Product Sales 39,329 30,850 12,260 Total Revenues $ 197,930 $ 105,843 $ 45,928 Accounts Receivable Trade accounts receivable are recorded at the invoiced amount or the earned amount but not yet invoiced and do not bear interest. We maintain our allowance for doubtful accounts at net realizable value. The allowance for doubtful accounts is based on our best estimate of probable uncollectible amounts in existing accounts receivable. We assess individual customers and overall receivables balances to identify amounts that are believed to be uncertain of collection. The aging of the receivable balance as well as economic factors concerning the customer factor into the judgment and estimation of allowances, which often involve significant dollar amounts. Adjustments to the allowance in future periods may be made based on changing customer conditions. Our allowance for doubtful accounts as of March 31, 2022 and December 31, 2021 was approximately $ 3.7 million and $ 2.2 million, respectively.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	(3) Inventory Inventories are stated at the lower of cost or net realizable value. We apply net realizable value and obsolescence to the gross value of 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 consist principally of products used in the services provided to our customers. The components of inventory balances are as follows (in thousands): March 31, 2022 December 31, 2021 Finished goods $ 23,816 $ 26,187 Raw materials 10,044 9,753 Work-in-process 4,182 4,253 Supplies and consumables 21,788 20,410 Total $ 59,830 $ 60,603

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant And Equipment [Abstract]
Property, Plant and Equipment, Net	(5) Property, Plant and Equipment, Net A summary of property, plant and equipment, net is as follows (in thousands): March 31, 2022 December 31, 2021 Machinery and equipment $ 363,397 $ 360,353 Buildings, improvements and leasehold improvements 76,749 75,374 Automobiles, trucks, tractors and trailers 6,416 6,450 Furniture and fixtures 19,714 19,668 Construction-in-progress 4,943 6,700 Land 28,446 28,671 Oil and gas producing assets 44,780 44,700 Total 544,445 541,916 Accumulated depreciation and depletion ( 212,946 ) ( 185,642 ) Property, plant and equipment, net $ 331,499 $ 356,274 Depreciation and depletion expense associated with our property, plant and equipment for the three months ended March 31, 2022 was $ 31.2 million. During the Successor Period and Predecessor Period, we recognized depreciation and depletion expense, excluding depreciation and depletion related to assets held for sale, of $ 39.0 million and $ 7.8 million, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Debt	(6) Debt On the Emergence Date, pursuant to the Plan, we entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders and letter of credit issuers named therein providing for a $ 120.0 million asset-based secured revolving Credit Facility, all of which is available for the issuance of letters of credit (the “Credit Facility”). The issuance of letters of credit reduces availability under the Credit Facility on a dollar-for-dollar basis. The Credit Facility will mature on December 9, 2024. As of March 31, 2022, our borrowing base, as defined in the Credit Agreement, was approximately $ 120.0 million, and we had $ 35.5 million of letters of credit outstanding that reduced the borrowing availability. We had no outstanding borrowings under the Credit Facility as of March 31, 2022. Unless all loans are paid off and letters of credit outstanding are cash collateralized and the Credit Facility terminated, the Credit Facility requires, subject to permitted exceptions, compliance with various covenants, including, but not limited to, limitations on the incurrence of indebtedness, permitted investments, liens on assets, making distributions, transactions with affiliates, mergers, consolidations, dispositions of assets and other provisions customary in similar types of agreements. The Credit Facility also requires compliance with a fixed charge coverage ratio of 1.0 to 1.0 if (a) an event of default has occurred and is continuing or (b) availability under the Credit Facility is less than the greater of $ 20.0 million or 15 % of the lesser of the aggregate commitments and the borrowing base. We were in compliance with all required covenants as of March 31, 2022.

Notes Receivable

Notes Receivable	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Notes Receivable	(4) Notes Receivable We have decommissioning liabilities related to the acquisition of a single oil and gas property. Our notes receivable consist of a commitment from the seller of the oil and gas property for costs associated with the abandonment of the property. Pursuant to an agreement with the seller, we invoice the seller an agreed upon amount at the completion of certain decommissioning activities. The gross amount of the seller’s obligation to us totals $ 115.0 million and is recorded at its present value, which totaled $ 61.6 million as of March 31, 2022. The discount on the notes receivable, which is currently based on an effective interest rate of 6.6 %, is amortized to interest income over the expected timing of the completion of the decommissioning activities. Interest receivable is considered paid in kind and is compounded into the carrying amount of the note. During the three months ended March 31, 2022, we recorded non-cash interest income of $ 1.0 million. During the Successor Period and the Predecessor Period, we recorded non-cash interest income of $ 0.7 million and $ 0.4 million, respectively, which is included in other reconciling items, net in the condensed consolidated statements of cash flows.

Decommissioning Liabilities

Decommissioning Liabilities	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Decommissioning Liabilities	(7) Decommissioning Liabilities We had decommissioning liabilities of $ 193.0 million and $ 190.4 million as of March 31, 2022 and December 31, 2021, respectively. We account for our decommissioning liabilities under ASC 410 – Asset Retirement Obligations. Our decommissioning liabilities are associated with our oil and gas property and include liabilities related to the plugging of wells, removal of the related platform and equipment and site restoration. We review the adequacy of our decommissioning liabilities whenever indicators suggest that the estimated cash flows and/or relating timing needed to satisfy the liability have changed materially. Accretion expense associated with our decommissioning liabilities for the three months ended March 31, 2022 was $ 2.7 million. During the Successor Period and Predecessor Period, we recognized accretion expense of $ 1.0 million and $ 0.5 million, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
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): March 31, 2022 Level 1 Level 2 Level 3 Total Non-qualified deferred compensation assets and liabilities Intangible and other long-term assets, net $ - $ 15,446 $ - $ 15,446 Accounts payable - 1,342 - 1,342 Other long-term liabilities - 17,135 - 17,135 Investment in equity securities $ 26,605 $ - $ - $ 26,605 December 31, 2021 Level 1 Level 2 Level 3 Total Non-qualified deferred compensation assets and liabilities Intangible and other long-term assets, net $ - $ 15,896 $ - $ 15,896 Accounts payable - 2,250 - 2,250 Other long-term liabilities - 19,218 - 19,218 Investment in equity securities $ 25,735 $ - $ - $ 25,735 Our non-qualified deferred compensation plans 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 a Level 2 in the fair value hierarchy. Investment in equity securities relates to our ownership of common stock of Select Energy Services, Inc. (“Select”) which we acquired in connection with asset disposals during the second half of 2021. This investment is reported at fair value based on unadjusted quoted prices which are readily determinable, which represents a Level 1 in the fair value hierarchy. Unrealized gains on our investment in equity securities for the three months ended March 31, 2022 was $ 6.5 million. During the quarter ended March 31, 2022, we disposed of 1.0 million shares of Select for $ 7.4 million, and recognized gains totaling $ 1.8 million in connection with these transactions. Realized and unrealized gains and losses on our investment in equity securities are included in other income (expense) in the condensed consolidated statements of operations. The carrying amount of cash equivalents, accounts receivable, accounts payable and accrued expenses, as reflected in the consolidated balance sheets, approximates fair value due to the short maturities.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Information [Abstract]
Segment Information	(9) Segment Information Business Segments The products and service offerings of our Rentals segment are comprised of value-added engineering and design services, rental of premium drill strings, tubing, landing strings, completion tubulars and handling accessories, manufacturing and rental of bottom hole assemblies, and rentals of accommodation units. The products and service offerings of our Well Services segment are comprised of risk management, well control and training solutions, hydraulic workover and snubbing services, engineering and manufacturing of premium sand control tools, and onshore international production services. The Well Services segment also includes the operations of our offshore oil and gas property. We evaluate the performance of our reportable segments based on income or loss from operations. The segment measure is calculated as segment revenues less segment operating expenses, including general and administrative expenses, depreciation, depletion, amortization and accretion expense, restructuring expenses and other gains and losses. We use this segment measure to evaluate our reportable segments as it is the measure that is most consistent with how we organize and manage our business operations. Corporate and other costs primarily include expenses related to support functions, including salaries and benefits for corporate employees. Summarized financial information for our segments is as follows (in thousands): For the three months ended March 31, 2022 (Successor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 88,756 $ 109,174 $ - $ 197,930 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 31,752 80,628 - 112,380 Depreciation, depletion, amortization and accretion 20,989 11,728 1,368 34,085 General and administrative expenses 7,365 11,401 13,252 32,018 Restructuring expenses - - 1,555 1,555 Other (gains) and losses, net ( 135 ) 1,282 - 1,147 Income (loss) from operations $ 28,785 $ 4,135 $ ( 16,175 ) $ 16,745 For the Period February 3, 2021 through March 31, 2021 (Successor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 42,448 $ 63,395 $ - $ 105,843 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 15,486 52,551 - 68,037 Depreciation, depletion, amortization and accretion 28,058 11,163 809 40,030 General and administrative expenses 3,451 8,461 6,526 18,438 Restructuring expenses - - 8,383 8,383 Other (gains) and losses, net ( 165 ) ( 4 ) - ( 169 ) Income (loss) from operations $ ( 4,382 ) $ ( 8,776 ) $ ( 15,718 ) $ ( 28,876 ) For the Period January 1, 2021 through February 2, 2021 (Predecessor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 18,339 $ 27,589 $ - $ 45,928 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 7,839 21,934 - 29,773 Depreciation, depletion, amortization and accretion 4,271 3,666 421 8,358 General and administrative expenses 2,027 4,111 4,914 11,052 Restructuring expenses - - 1,270 1,270 Income (loss) from operations $ 4,202 $ ( 2,122 ) $ ( 6,605 ) $ ( 4,525 ) Identifiable Assets Well Corporate Consolidated Rentals Services and Other Total March 31, 2022 $ 421,865 $ 628,863 $ 173,631 $ 1,224,359 December 31, 2021 379,453 636,256 183,799 1,199,508 Geographic Segments We operate in the U.S. and in various other countries throughout the world. Our international operations are primarily focused in Latin America, Asia-Pacific and the Middle East and North Africa regions. We attribute revenue to various countries based on the location 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. Our revenue attributed to the U.S. and to other countries and the value of our long-lived assets by those locations are as follows (in thousands): Revenues Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period United States $ 99,584 $ 53,059 $ 23,863 Other countries 98,346 52,784 22,065 Total $ 197,930 $ 105,843 $ 45,928 Long-Lived Assets March 31, 2022 December 31, 2021 United States $ 230,292 $ 231,388 Other countries 101,207 124,886 Total $ 331,499 $ 356,274

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2022
Stock-Based And Long-Term Incentive Compensation [Abstract]
Stock-Based And Long-Term Incentive Compensation	(10) Stock-Based Compensation Plans On June 1, 2021, our Board of Directors (the “Board”) and the Compensation Committee of the Board (the “Compensation Committee”) approved and adopted our Management Incentive Plan (“MIP”), which provides for the grant of share-based and cash-based awards and, in connection therewith, the issuance from time to time of up to 1,999,869 shares of our Class B common stock, par value $ 0.01 per share. Approval of Forms of Award Agreement and Equity Awards On March 28, 2022, the Board and the Compensation Committee approved new forms of restricted stock unit (“RSU”) award agreements and forms of performance stock unit (“PSU”) award agreements (collectively, the “Award Agreements”) under the MIP, and approved the grant of 72,050 RSUs and 288,199 PSUs. Awards made under the forms of RSU award agreements for our employees generally vest in three equal annual installments over the three-year period, subject to terms and conditions set forth in the forms of RSU award agreements. Awards made under the forms PSU award agreements may be earned between 25 % and 100 % of the target award based on achievement of share price goals set forth in the forms of PSU award agreements and will vest to the extent that share price goals are achieved based on the terms and conditions set forth in the forms of PSU award agreements. During the three months ended March 31, 2022, we recognized $ 0.6 million in compensation expense associated with grants of restricted stock awards and RSUs. As a result of the consummation of the Plan, restricted stock units issued prior to the Emergence Date were cancelled for zero consideration. We recognized $ 0.9 million in compensation costs during the Predecessor Period prior to cancellation of the pre-Emergence outstanding restricted stock units.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Taxes [Abstract]
Income Taxes	(11) Income Taxes The effective tax rate for the three months ended March 31, 2022 was 24.7 % on income from continuing operations. The effective tax rate is different from the U.S. federal statutory rate of 21 % primarily from non-deductible items and foreign losses for which no tax benefit is being recorded. The effective tax rate for the Successor Period and the Predecessor Period was 13.6 % and 18.2 %, respectively, on income from 21 % primarily from non-deductible items and foreign losses for which no tax benefit is being recorded. The tax rate in the Predecessor Period is different from the U.S. federal statutory rate of 21 % primarily due the adoption of fresh start accounting during the period. We had $ 15.1 million and $ 15.0 million of unrecognized tax benefits as of March 31, 2022 and December 31, 2021, respectively, all of which would impact our effective tax rate if recognized except for $ 1.6 million offset in deferred income taxes. It is reasonably possible $ 2.9 million of unrecognized tax benefits could be settled in the next twelve months due to the conclusion of tax audits or statutes of limitations expiration. It is our 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, 2022
Earnings Per Share [Abstract]
Earnings Per Share	(12) Earnings per Share Our common equity consists of Class A Common Stock, par value $ 0.01 per share (the “Class A Common Stock”) and Class B common stock, par value $ 0.01 per share (“Class B Common Stock”). Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock 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 shares of common stock that could have been outstanding assuming the exercise of stock options and conversion of restricted stock units. 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 shares of common stock that could have been outstanding assuming the conversion of restricted stock awards and units. For the three months ended March 31, 2022, incremental shares associated with restricted stock awards and units was not material. During the Successor Period, we incurred a loss from continuing operations, and therefore, the impact of any incremental shares would be anti-dilutive. Diluted earnings per share for the Predecessor Period includes the impact of approximately 0.1 million dilutive securities.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Contingencies [Abstract]
Contingencies	(13) Contingencies Due to the nature of our business, we are involved, from time to time, in various routine litigation or subject to disputes or claims or actions, including those commercial in nature, regarding our business activities in the ordinary course of business. Legal costs related to these matters are expensed as incurred. Management is of the opinion that none of the claims and actions will have a material adverse impact on our financial position, results of operations or cash flows. Commencement of the Chapter 11 Cases automatically stayed certain proceedings and actions, and these cases have continued after the Emergence Date. A subsidiary of ours is involved in legal proceedings with two former employees regarding the payment of royalties for a patentable product paid for by the subsidiary and developed while they worked for the subsidiary. On April 2, 2018, the former employees and their corporation filed a lawsuit (the “First Case”) in the Harris County District Court (the “District Court”) alleging that the royalty payments they had invoiced at 25 % and for which they received payments since 2010, should have been paid at a rate of 50 %. In May 2019, the jury issued a verdict in favor of the plaintiffs. On October 25, 2019, the court issued a final judgment against us, which we have fully secured with a bond. Oral arguments in front of the Court of Appeals took place in April 2022. We strongly disagree with the verdict and believe the District Court committed several legal errors that should result in a reversal or remand of the case by the Court of Appeals. A second case (the “Second Case”) was filed in District Court against the same subsidiary of ours bringing the same claims and seeking damages post judgment from the First Case until discontinuation of the sale of the product at issue by the subsidiary. In December 2020, the Court entered a final judgement for the Plaintiffs’ and the Second Case was stayed for the duration of our bankruptcy. We have filed an appeal and a Motion to Abate the Second Case pending the appeal of the First Case. The Motion to Abate the Second Case was granted on October 26, 2021 by the Court of Appeals. As of March 31, 2022, we have reserved $ 7.0 million for the judgements in the First Case and Second Case. Our Indian subsidiary, SES Energy Services India Pvt. Ltd, entered into a contract with an Indian oil and gas company to provide an off shore vessel for well stimulation. A dispute arose over the performability of the terms of the contract. The contract was terminated by the customer. The maximum liability under the contract is capped at approximately $ 7.3 million, of which approximately $ 3.5 million has been claimed via revocation of performance bank guarantees.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Discontinued Operations [Abstract]
Discontinued Operations	(14) Discontinued Operations The following table summarizes the components of discontinued operations, net of tax (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Revenues $ - $ 23,252 $ 10,719 Cost of services - 22,522 10,398 Depreciation, depletion, amortization and accretion - 12,775 2,141 General and administrative expenses 3,742 2,595 1,119 Other (gains) and losses, net ( 5,943 ) ( 2,500 ) - Loss from operations 2,201 ( 12,140 ) ( 2,939 ) Other income (expense) - 3 2,485 Loss from discontinued operations before tax 2,201 ( 12,137 ) ( 454 ) Income tax benefit (expense) ( 462 ) 2,731 102 Income (loss) from discontinued operations, net of income tax $ 1,739 $ ( 9,406 ) $ ( 352 ) The following summarizes the assets and liabilities related to discontinued operations (in thousands): March 31, 2022 December 31, 2021 Assets: Accounts receivable, net $ 6,254 $ 7,469 Property, plant and equipment, net 22,076 29,328 Other assets 161 731 Total assets held for sale $ 28,491 $ 37,528 Liabilities: Accounts payable $ 473 $ 652 Accrued expenses 2,982 4,268 Other liabilities 223 687 Total liabilities $ 3,678 $ 5,607 Significant operating non-cash items and cash flows from investing activities for our discontinued operations were as follows (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Cash flows from discontinued operating activities: (Gain)/loss on sale of assets $ - $ - $ ( 43 ) Other (gains) and losses, net ( 5,943 ) ( 2,500 ) - Depreciation, depletion, amortization and accretion - 12,775 2,141 Cash flows from discontinued investing activities: Proceeds from sales of assets 13,194 5,024 486

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	(17) Subsequent Events We evaluate events that occur after the balance sheet date but before the financial statements are issued for potential recognition or disclosure. Based on the evaluation, we determined that there were no material subsequent events that required disclosure or recognition in these condensed consolidated financial statements.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	(15) Supplemental Cash Flow Information The table below is a reconciliation of cash, cash equivalents and restricted cash for the beginning and the end of the period for all periods presented: Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Cash, cash equivalents, and restricted cash, beginning of period Cash and cash equivalents $ 314,974 $ 172,768 $ 188,006 Restricted cash-current - 16,751 - Restricted cash-non-current 79,561 80,179 80,178 Cash, cash equivalents, and restricted cash, beginning of period $ 394,535 $ 269,698 $ 268,184 Cash, cash equivalents, and restricted cash, end of period Cash and cash equivalents $ 359,511 $ 197,307 $ 172,768 Restricted cash-current - 16,751 16,751 Restricted cash-non-current 79,561 80,056 80,179 Cash, cash equivalents, and restricted cash, end of period $ 439,072 $ 294,114 $ 269,698

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Disclosure Text Block [Abstract]
New Accounting Pronouncements	(16) New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) . This update improves financial reporting by requiring earlier recognition of credit losses on financing receivables and other financial assets in scope by using the Current Expected Credit Losses (the “CECL”) model. The CECL model utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses on financial instruments at the time the asset is originated or acquired. This update will apply to receivables arising from revenue transactions. The new standard is effective for us beginning on January 1, 2023. We have concluded that the adoption of ASU 2016-13 will not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform — Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848). This update provides an optional expedient and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In response to the concerns about structural risks of interbank offered rates (“IBORs”) and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”), regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction-based and less susceptible to manipulation. The ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. In January 2021, the FASB issued ASU No. 2021-01, which clarifies that certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments in these ASUs are effective for all entities as of March 12, 2020 through December 31, 2022. As our credit agreement allows for alternative benchmark rates to be applied to any borrowings, we do not expect the cessation of LIBOR to have a material impact on our financial position, results of operations, cash flows or disclosures.

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2022
Supplemental Guarantor Information [Abstract]
Supplemental Cash Flow Information	(15) Supplemental Cash Flow Information The table below is a reconciliation of cash, cash equivalents and restricted cash for the beginning and the end of the period for all periods presented: Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Cash, cash equivalents, and restricted cash, beginning of period Cash and cash equivalents $ 314,974 $ 172,768 $ 188,006 Restricted cash-current - 16,751 - Restricted cash-non-current 79,561 80,179 80,178 Cash, cash equivalents, and restricted cash, beginning of period $ 394,535 $ 269,698 $ 268,184 Cash, cash equivalents, and restricted cash, end of period Cash and cash equivalents $ 359,511 $ 197,307 $ 172,768 Restricted cash-current - 16,751 16,751 Restricted cash-non-current 79,561 80,056 80,179 Cash, cash equivalents, and restricted cash, end of period $ 439,072 $ 294,114 $ 269,698

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue by Geography [Member]
Disaggregation of Revenue [Line Items]
Disaggregation Of Revenues	The following table presents our revenues by segment disaggregated by geography (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period U.S. land Rentals $ 33,962 $ 11,109 $ 4,917 Well Services 4,548 2,126 3,379 Total U.S. land 38,510 13,235 8,296 U.S. offshore Rentals 32,753 20,403 8,196 Well Services 28,321 19,421 7,371 Total U.S. offshore 61,074 39,824 15,567 International Rentals 22,041 10,936 5,226 Well Services 76,305 41,848 16,839 Total International 98,346 52,784 22,065 Total Revenues $ 197,930 $ 105,843 $ 45,928
Revenue by Type [Member]
Disaggregation of Revenue [Line Items]
Disaggregation Of Revenues	The following table presents our revenues by segment disaggregated by type (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Services Rentals $ 11,158 $ 6,264 $ 2,005 Well Services 80,281 37,415 17,229 Total Services 91,439 43,679 19,234 Rentals Rentals 65,247 28,593 14,082 Well Services 1,915 2,721 352 Total Rentals 67,162 31,314 14,434 Product Sales Rentals 12,351 7,591 2,252 Well Services 26,978 23,259 10,008 Total Product Sales 39,329 30,850 12,260 Total Revenues $ 197,930 $ 105,843 $ 45,928 Accounts Receivable Trade accounts receivable are recorded at the invoiced amount or the earned amount but not yet invoiced and do not bear interest. We maintain our allowance for doubtful accounts at net realizable value. The allowance for doubtful accounts is based on our best estimate of probable uncollectible amounts in existing accounts receivable. We assess individual customers and overall receivables balances to identify amounts that are believed to be uncertain of collection. The aging of the receivable balance as well as economic factors concerning the customer factor into the judgment and estimation of allowances, which often involve significant dollar amounts. Adjustments to the allowance in future periods may be made based on changing customer conditions. Our allowance for doubtful accounts as of March 31, 2022 and December 31, 2021 was approximately $ 3.7 million and $ 2.2 million, respectively.

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Components Of Inventory	The components of inventory balances are as follows (in thousands): March 31, 2022 December 31, 2021 Finished goods $ 23,816 $ 26,187 Raw materials 10,044 9,753 Work-in-process 4,182 4,253 Supplies and consumables 21,788 20,410 Total $ 59,830 $ 60,603

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant And Equipment [Abstract]
Summary Of Property, Plant And Equipment	A summary of property, plant and equipment, net is as follows (in thousands): March 31, 2022 December 31, 2021 Machinery and equipment $ 363,397 $ 360,353 Buildings, improvements and leasehold improvements 76,749 75,374 Automobiles, trucks, tractors and trailers 6,416 6,450 Furniture and fixtures 19,714 19,668 Construction-in-progress 4,943 6,700 Land 28,446 28,671 Oil and gas producing assets 44,780 44,700 Total 544,445 541,916 Accumulated depreciation and depletion ( 212,946 ) ( 185,642 ) Property, plant and equipment, net $ 331,499 $ 356,274

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Information [Abstract]
Schedule Of Segment Reporting Information	Summarized financial information for our segments is as follows (in thousands): For the three months ended March 31, 2022 (Successor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 88,756 $ 109,174 $ - $ 197,930 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 31,752 80,628 - 112,380 Depreciation, depletion, amortization and accretion 20,989 11,728 1,368 34,085 General and administrative expenses 7,365 11,401 13,252 32,018 Restructuring expenses - - 1,555 1,555 Other (gains) and losses, net ( 135 ) 1,282 - 1,147 Income (loss) from operations $ 28,785 $ 4,135 $ ( 16,175 ) $ 16,745 For the Period February 3, 2021 through March 31, 2021 (Successor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 42,448 $ 63,395 $ - $ 105,843 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 15,486 52,551 - 68,037 Depreciation, depletion, amortization and accretion 28,058 11,163 809 40,030 General and administrative expenses 3,451 8,461 6,526 18,438 Restructuring expenses - - 8,383 8,383 Other (gains) and losses, net ( 165 ) ( 4 ) - ( 169 ) Income (loss) from operations $ ( 4,382 ) $ ( 8,776 ) $ ( 15,718 ) $ ( 28,876 ) For the Period January 1, 2021 through February 2, 2021 (Predecessor) Well Corporate and Consolidated Rentals Services Other Total Revenues $ 18,339 $ 27,589 $ - $ 45,928 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion) 7,839 21,934 - 29,773 Depreciation, depletion, amortization and accretion 4,271 3,666 421 8,358 General and administrative expenses 2,027 4,111 4,914 11,052 Restructuring expenses - - 1,270 1,270 Income (loss) from operations $ 4,202 $ ( 2,122 ) $ ( 6,605 ) $ ( 4,525 )
Schedule Of Identifiable Assets	Identifiable Assets Well Corporate Consolidated Rentals Services and Other Total March 31, 2022 $ 421,865 $ 628,863 $ 173,631 $ 1,224,359 December 31, 2021 379,453 636,256 183,799 1,199,508
Schedule Of Revenues By Geographic Segment	Our revenue attributed to the U.S. and to other countries and the value of our long-lived assets by those locations are as follows (in thousands): Revenues Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period United States $ 99,584 $ 53,059 $ 23,863 Other countries 98,346 52,784 22,065 Total $ 197,930 $ 105,843 $ 45,928 Long-Lived Assets March 31, 2022 December 31, 2021 United States $ 230,292 $ 231,388 Other countries 101,207 124,886 Total $ 331,499 $ 356,274

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Measurements [Abstract]
Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis	March 31, 2022 Level 1 Level 2 Level 3 Total Non-qualified deferred compensation assets and liabilities Intangible and other long-term assets, net $ - $ 15,446 $ - $ 15,446 Accounts payable - 1,342 - 1,342 Other long-term liabilities - 17,135 - 17,135 Investment in equity securities $ 26,605 $ - $ - $ 26,605 December 31, 2021 Level 1 Level 2 Level 3 Total Non-qualified deferred compensation assets and liabilities Intangible and other long-term assets, net $ - $ 15,896 $ - $ 15,896 Accounts payable - 2,250 - 2,250 Other long-term liabilities - 19,218 - 19,218 Investment in equity securities $ 25,735 $ - $ - $ 25,735

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations [Abstract]
Components Of Income (Loss) From Discontinued Operations	The following table summarizes the components of discontinued operations, net of tax (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Revenues $ - $ 23,252 $ 10,719 Cost of services - 22,522 10,398 Depreciation, depletion, amortization and accretion - 12,775 2,141 General and administrative expenses 3,742 2,595 1,119 Other (gains) and losses, net ( 5,943 ) ( 2,500 ) - Loss from operations 2,201 ( 12,140 ) ( 2,939 ) Other income (expense) - 3 2,485 Loss from discontinued operations before tax 2,201 ( 12,137 ) ( 454 ) Income tax benefit (expense) ( 462 ) 2,731 102 Income (loss) from discontinued operations, net of income tax $ 1,739 $ ( 9,406 ) $ ( 352 )
Assets And Liabilities Of Discontinued Operation	The following summarizes the assets and liabilities related to discontinued operations (in thousands): March 31, 2022 December 31, 2021 Assets: Accounts receivable, net $ 6,254 $ 7,469 Property, plant and equipment, net 22,076 29,328 Other assets 161 731 Total assets held for sale $ 28,491 $ 37,528 Liabilities: Accounts payable $ 473 $ 652 Accrued expenses 2,982 4,268 Other liabilities 223 687 Total liabilities $ 3,678 $ 5,607
Schedule Of Cash Flows From Discontinued Operations	Significant operating non-cash items and cash flows from investing activities for our discontinued operations were as follows (in thousands): Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Cash flows from discontinued operating activities: (Gain)/loss on sale of assets $ - $ - $ ( 43 ) Other (gains) and losses, net ( 5,943 ) ( 2,500 ) - Depreciation, depletion, amortization and accretion - 12,775 2,141 Cash flows from discontinued investing activities: Proceeds from sales of assets 13,194 5,024 486

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	The table below is a reconciliation of cash, cash equivalents and restricted cash for the beginning and the end of the period for all periods presented: Successor Predecessor For the Three Months Ended March 31, 2022 For the Period For the Period Cash, cash equivalents, and restricted cash, beginning of period Cash and cash equivalents $ 314,974 $ 172,768 $ 188,006 Restricted cash-current - 16,751 - Restricted cash-non-current 79,561 80,179 80,178 Cash, cash equivalents, and restricted cash, beginning of period $ 394,535 $ 269,698 $ 268,184 Cash, cash equivalents, and restricted cash, end of period Cash and cash equivalents $ 359,511 $ 197,307 $ 172,768 Restricted cash-current - 16,751 16,751 Restricted cash-non-current 79,561 80,056 80,179 Cash, cash equivalents, and restricted cash, end of period $ 439,072 $ 294,114 $ 269,698

Revenue (Disaggregation Of Reve

Revenue (Disaggregation Of Revenues, By Geography) (Details) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 02, 2022	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenues	$ 45,928	$ 45,928	$ 105,843	$ 197,930
Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		18,339	42,448	88,756
Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		27,589	63,395	109,174
U.S. Land [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		8,296	13,235	38,510
U.S. Land [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		4,917	11,109	33,962
U.S. Land [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		3,379	2,126	4,548
U.S. Offshore [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		15,567	39,824	61,074
U.S. Offshore [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		8,196	20,403	32,753
U.S. Offshore [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		7,371	19,421	28,321
International [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 22,065	22,065	52,784	98,346
International [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		5,226	10,936	22,041
International [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		$ 16,839	$ 41,848	$ 76,305

Revenue (Disaggregation Of Re_2

Revenue (Disaggregation Of Revenues, By Type) (Details) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 02, 2022	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenues	$ 45,928	$ 45,928	$ 105,843	$ 197,930
Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		18,339	42,448	88,756
Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		27,589	63,395	109,174
Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		19,234	43,679	91,439
Services [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		2,005	6,264	11,158
Services [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		17,229	37,415	80,281
Rentals Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		14,434	31,314	67,162
Rentals Services [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		14,082	28,593	65,247
Rentals Services [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		352	2,721	1,915
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		12,260	30,850	39,329
Product Sales [Member] | Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		2,252	7,591	12,351
Product Sales [Member] | Well Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues		$ 10,008	$ 23,259	$ 26,978

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue [Abstract]
Allowance for doubtful accounts	$ 3.7	$ 2.2

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 23,816	$ 26,187
Raw materials	10,044	9,753
Work-in-process	4,182	4,253
Supplies and consumables	21,788	20,410
Total	$ 59,830	$ 60,603

Notes Receivable (Narrative) (D

Notes Receivable (Narrative) (Details) - Notes Receivable, Seller Obligation [Member] - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2022	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Debt issuance		$ 115	$ 115
Amount of notes receivable		61.6	$ 61.6
Interest rate percentage to record present value of notes receivable			6.60%
Company recorded interest income	$ 0.4	$ 0.7	$ 1

Decommissioning Liabilities (Na

Decommissioning Liabilities (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Decommissioning liabilities			$ 193	$ 190.4
Accretion Expense associated with our decommissioning liabilities	$ 0.5	$ 1	$ 2.7

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Summary Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 544,445	$ 541,916
Accumulated depreciation and depletion	(212,946)	(185,642)
Property, plant and equipment, net	331,499	356,274
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	363,397	360,353
Buildings, Improvements And Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	76,749	75,374
Automobiles, Trucks, Tractors and Trailers [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,416	6,450
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19,714	19,668
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,943	6,700
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	28,446	28,671
Oil and Gas Producing Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 44,780	$ 44,700

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2022	Mar. 31, 2022	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and depletion expense			$ 31.2
Depreciation and depletion related to assets held for sale	$ 7.8	$ 39

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)
Debt Instrument [Line Items]
Credit facility, borrowing base			$ 20,000
Line of Credit Facility, Commitment Fee Percentage			15.00%
Fixed charge coverage ratio			1
Reorganization items, net	$ 335,560
Jpmorgan Chase Bank Asset Backed Secured Revolving Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 120,000	120,000
Letters of Credit Outstanding, Amount			$ 35,500

Segment Information (Schedule O

Segment Information (Schedule Of Segment Reporting Information) (Details) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 02, 2022	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 45,928	$ 45,928	$ 105,843	$ 197,930
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		29,773	68,037	112,380
Depreciation, depletion, amortization and accretion		8,358	40,030	34,085
General and administrative expenses		11,052	18,438	32,018
Restructuring expense		1,270	8,383	1,555
Other gains and losses, net			169	1,147
Income (loss) from operations		(4,525)	(28,876)	16,745
Interest income (expense), net		202	212	1,179
Reorganization expenses		(335,560)
Other income (expense)		(2,105)	(2,845)	13,947
Income (loss) from continuing operations before income taxes		329,132	(31,509)	31,871
Rentals [Member]
Segment Reporting Information [Line Items]
Total revenues		18,339	42,448	88,756
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		7,839	15,486	31,752
Depreciation, depletion, amortization and accretion		4,271	28,058	20,989
General and administrative expenses		2,027	3,451	7,365
Other gains and losses, net			165	135
Income (loss) from operations		4,202	(4,382)	28,785
Well Services [Member]
Segment Reporting Information [Line Items]
Total revenues		27,589	63,395	109,174
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		21,934	52,551	80,628
Depreciation, depletion, amortization and accretion		3,666	11,163	11,728
General and administrative expenses		4,111	8,461	11,401
Other gains and losses, net			4	1,282
Income (loss) from operations		(2,122)	(8,776)	4,135
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and accretion		421	809	1,368
General and administrative expenses		4,914	6,526	13,252
Restructuring expense		1,270	8,383	1,555
Income (loss) from operations		$ (6,605)	$ (15,718)	$ (16,175)

Segment Information (Schedule_2

Segment Information (Schedule Of Identifiable Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Identifiable Assets	$ 1,224,359	$ 1,199,508
Rentals [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	421,865	379,453
Well Services [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	628,863	636,256
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	$ 173,631	$ 183,799

Segment Information (Schedule_3

Segment Information (Schedule Of Revenues By Geographic Segment) (Details) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 02, 2022	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 45,928	$ 45,928	$ 105,843	$ 197,930
Long-lived assets				331,499	$ 356,274
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	23,863		53,059	99,584
Long-lived assets				230,292	231,388
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 22,065	$ 22,065	$ 52,784	98,346
Long-lived assets				$ 101,207	$ 124,886

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 28, 2022	Feb. 02, 2021	Mar. 31, 2022	Jun. 01, 2021
Restricted Stock Units R S U [Member]
Cancelled stock incentive plans
Shares granted	72,050
Compensation expense			$ 0.6
Restricted Stock Units R S U [Member] | Equal Installments [Member]
Cancelled stock incentive plans
Share-based payment vesting period, years	3 years
Restricted Stock Units R S U [Member] | Predecessor Period
Cancelled stock incentive plans
Compensation expense		$ 0.9
Performance Share Units [Member]
Cancelled stock incentive plans
Shares granted	288,199
Performance Share Units [Member] | Minimum [Member]
Cancelled stock incentive plans
Percentage of achievement of share price based on target award	25.00%
Performance Share Units [Member] | Maximum [Member]
Cancelled stock incentive plans
Percentage of achievement of share price based on target award	100.00%
Restricted Stock Awards [Member]
Cancelled stock incentive plans
Compensation expense			$ 0.6
Management Incentive Plan [Member]
Cancelled stock incentive plans
Common stock reserved for issuance				1,999,869
Common stock, par value				$ 0.01

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Summary Of Compensation Expense and Tax Benefits) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	$ 0.6
Restricted Stock Units R S U [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	$ 0.6

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%
Current Foreign Tax Expense (Benefit)			$ 0
Effective Income Tax Rate Reconciliation, Percent	18.20%	13.60%	24.70%
Unrecognized tax benefits		$ 15,100	$ 15,100	$ 15,000
Deferred income taxes			1,600
Reduction to unrecognized tax benefits, foreign tax audits			$ 2,900

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities	$ 0.1
Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value	$ 0.01	$ 0.01

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] - Non Qualified Deferred Compensation Assets and Liabilities [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	$ 15,446	$ 15,896
Accounts payable	1,342	2,250
Other long-term liabilities	17,135	19,218
Investment in equity securities	26,605
Total debt		25,735
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	0
Investment in equity securities	26,605
Total debt		25,735
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	15,446	15,896
Accounts payable	1,342	2,250
Other long-term liabilities	$ 17,135	$ 19,218

Fair Value Measurements (Additi

Fair Value Measurements (Additional Information) (Details) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
Fair Value Measurements [Abstract]
Sale of Stock, Number of Shares Issued in Transaction | shares	1
Gain on sale of assets, discontinued operation	$ 7.4
Recognized gains on equity securities	1.8
Unrealized gain on equity securities	$ 6.5

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) $ in Millions	Apr. 02, 2018Employee	Mar. 31, 2022USD ($)
Loss Contingencies [Line Items]
Number of people involved in lawsuit | Employee	2
Rate of royalty payments invoiced by plaintiffs	25.00%
Rate of royalty payments claimed by plaintiffs	50.00%
Loss Contingency, Maximum Liability		$ 7.3
First And Second Case [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		7
Performance Bank Guarantee [Member]
Loss Contingencies [Line Items]
Loss Contingency, Maximum Liability		$ 3.5

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Gain on sale of assets, discontinued operation	$ 7,400
Assets held for sale	$ 28,491	$ 37,528

Discontinued Operations (Compon

Discontinued Operations (Components Of Income (Loss) From Discontinued Operations) (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation, depletion, amortization and accretion	$ 8,358	$ 40,030	$ 34,085
General and administrative expenses	11,052	18,438	32,018
Other (gains) and losses, net		(169)	1,147
Income (loss) from operations	(4,525)	(28,876)	16,745
Other income (expense)	(2,105)	(2,845)	13,947
Income (loss) from discontinued operations, net of income tax	(352)	(9,406)	1,739
Pumpco [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	10,719	23,252	0
Cost of services	10,398	22,522	0
Depreciation, depletion, amortization and accretion	2,141	12,775	0
General and administrative expenses	1,119	2,595	3,742
Other (gains) and losses, net	0	(2,500)	(5,943)
Income (loss) from operations	(2,939)	(12,140)	2,201
Other income (expense)	2,485	3	0
Loss from discontinued operations before tax	(454)	(12,137)	2,201
Income tax benefit (expense)	102	2,731	(462)
Income (loss) from discontinued operations, net of income tax	$ (352)	$ (9,406)	$ 1,739

Discontinued Operations (Assets

Discontinued Operations (Assets And Liabilities Of Discontinued Operation) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets	$ 28,491	$ 37,528
Pumpco Member
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	6,254	7,469
Property, plant and equipment, net	22,076	29,328
Other assets	161	731
Total assets held for sale	28,491	37,528
Accounts payable	473	652
Accrued expenses	2,982	4,268
Other liabilities	223	687
Total liabilities	$ 3,678	$ 5,607

Discontinued Operation (Cash Fl

Discontinued Operation (Cash Flow Of Discontinued Operations) (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other (gains) and losses, net		$ (169)	$ 1,147
Other gains and losses, net		169	1,147
Pumpco Member
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain)/loss on sale of assets	(43)	0	0
Other (gains) and losses, net	0	(2,500)	(5,943)
Depreciation, depletion, amortization and accretion	2,141	12,775	0
Proceeds from sales of assets	$ 486	$ 5,024	$ 13,194

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Feb. 03, 2021	Feb. 02, 2021	Jan. 01, 2021
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents	$ 359,511	$ 314,974	$ 197,307	$ 172,768	$ 172,768	$ 188,006
Restricted cash-current	0	0	16,751	16,751	16,751	0
Restricted cash-non-current	79,561	79,561	80,056	80,179	80,179	80,178
Cash, cash equivalents, and restricted cash	$ 439,072	$ 394,535	$ 294,114	$ 269,698	$ 269,698	$ 268,184

Supplemental Guarantor Inform_2

Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended
	Feb. 02, 2022	Feb. 02, 2021	Mar. 31, 2021	Mar. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Total Revenues	$ 45,928	$ 45,928	$ 105,843	$ 197,930
Cost of revenues		29,773	68,037	112,380
Loss from operations before income taxes		329,132	(31,509)	31,871
Income taxes		60,003	(4,285)	7,884
Net income (loss) from continuing operations		269,129	(27,224)	23,987
Income (loss) from discontinued operations, net of income tax		(352)	(9,406)	1,739
Net income (loss)		$ 268,777	$ (36,630)	$ 25,726