Print Page | Close Window

10-Q
SUPERIOR ENERGY SERVICES INC filed this Form 10-Q on 10/26/2016
Entire Document
 << Previous Page | Next Page >>

 

The Company evaluates the performance of its reportable segments based on income or loss from operations.  The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation, depletion, amortization and accretion expense, reduction in value of assets and allocated general and administrative expenses.  General and administrative expenses are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods that the Company believes to be a reasonable reflection of the utilization of services provided.  The Company believes this segment measure is useful in evaluating the performance of its reportable segments because it highlights operating trends and aids analytical comparisons.



Summarized financial information for the Company’s segments is as follows (in thousands): 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Onshore

 

 

 

 

 

 

 

 

 

 

 

 



 

Drilling

 

Completion

 

 

 

 

 

 

 

 

 

 

 



 

Products and

 

and Workover

 

Production

 

Technical

 

 

 

 

Consolidated



 

Services

 

Services

 

Services

 

Solutions

 

Unallocated

 

Total

Revenues

 

$

63,570 

 

$

125,022 

 

$

73,540 

 

$

64,093 

 

$

 -

 

$

326,225 

Cost of services and rentals (exclusive of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

depreciation, depletion, amortization and accretion)

 

 

30,137 

 

 

124,747 

 

 

62,818 

 

 

40,466 

 

 

 -

 

 

258,168 

Depreciation, depletion, amortization and accretion

 

 

39,612 

 

 

51,346 

 

 

21,469 

 

 

10,881 

 

 

 -

 

 

123,308 

General and administrative expenses

 

 

23,168 

 

 

23,124 

 

 

16,975 

 

 

23,476 

 

 

 -

 

 

86,743 

Loss from operations

 

 

(29,347)

 

 

(74,195)

 

 

(27,722)

 

 

(10,730)

 

 

 -

 

 

(141,994)

Interest income (expense), net

 

 

 -

 

 

 -

 

 

(17)

 

 

870 

 

 

(22,624)

 

 

(21,771)

Other income

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

3,667 

 

 

3,667 

Loss from continuing operations before income taxes

 

$

(29,347)

 

$

(74,195)

 

$

(27,739)

 

$

(9,860)

 

$

(18,957)

 

$

(160,098)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Onshore

 

 

 

 

 

 

 

 

 

 

 

 



 

Drilling

 

Completion

 

 

 

 

 

 

 

 

 

 

 

 



 

Products and

 

and Workover

 

Production

 

Technical

 

 

 

 

Consolidated



 

Services

 

Services

 

Services

 

Solutions

 

Unallocated

 

Total

Revenues

 

$

128,489 

 

$

202,912 

 

$

163,937 

 

$

106,058 

 

$

 -

 

$

601,396 

Cost of services and rentals (exclusive of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

depreciation, depletion, amortization and accretion)

 

 

43,827 

 

 

174,429 

 

 

130,021 

 

 

72,208 

 

 

 -

 

 

420,485 

Depreciation, depletion, amortization and accretion

 

 

48,366 

 

 

53,836 

 

 

29,954 

 

 

14,601 

 

 

 -

 

 

146,757 

General and administrative expenses

 

 

29,299 

 

 

30,044 

 

 

34,395 

 

 

29,451 

 

 

 -

 

 

123,189 

Reduction in value of assets

 

 

 -

 

 

740,000 

 

 

15,632 

 

 

 -

 

 

 -

 

 

755,632 

Income (loss) from operations

 

 

6,997 

 

 

(795,397)

 

 

(46,065)

 

 

(10,202)

 

 

 -

 

 

(844,667)

Interest income (expense), net

 

 

 -

 

 

 -

 

 

(845)

 

 

430 

 

 

(22,207)

 

 

(22,622)

Other expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(3,123)

 

 

(3,123)

Income (loss) from continuing operations
   before income taxes

 

$

6,997 

 

$

(795,397)

 

$

(46,910)

 

$

(9,772)

 

$

(25,330)

 

$

(870,412)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 





12

 


 

 << Previous Page | Next Page >>