View Filing Data

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2014	Oct. 30, 2014
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	Sep. 30, 2014
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		152,171,006
Entity Well-known Seasoned Issuer	Yes
Trading Symbol	spn
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 320,042	$ 196,047
Accounts receivable, net of allowance for doubtful accounts of $27,366 and $31,030 at September 30, 2014 and December 31, 2013, respectively	967,943	937,195
Deferred Tax Assets, Net, Current	27,024	8,785
Income tax receivable		5,532
Prepaid expenses	72,072	70,421
Inventory and other current assets	185,613	258,449
Assets Held-for-sale, Current	285,759
Total current assets	1,858,453	1,476,429
Property, plant and equipment, net of accumulated depreciation and depletion of $2,159,166 and $1,827,011 at September 30, 2014 and December 31, 2013, respectively	2,702,532	3,002,194
Goodwill	2,456,522	2,458,109
Notes receivable	25,560	23,708
Intangible and other long-term assets, net of accumulated amortization of $110,115 and $84,567 at September 30, 2014 and December 31, 2013, respectively	420,873	450,867
Total assets	7,463,940	7,411,307
Current liabilities:
Accounts payable	207,242	216,029
Accrued expenses	367,476	376,049
Income taxes payable	37,417
Current portion of decommissioning liabilities		27,322
Current maturities of long-term debt	20,344	20,000
Total current liabilities	709,328	639,400
Liabilities of Assets Held-for-sale	76,849
Deferred income taxes	729,246	736,080
Decommissioning liabilities	87,443	56,197
Long-term debt, net	1,630,834	1,646,535
Other long-term liabilities	165,379	201,651
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 - 153,958,963, Outstanding - 154,019,882 at September 30, 2014 Authorized - 250,000,000, Issued - 158,976,784, Outstanding, 159,158,022 at December 31, 2013	154	159
Additional Paid in Capital	2,724,777	2,873,579
Accumulated other comprehensive loss, net	(25,067)	(17,500)
Retained earnings	1,441,846	1,275,206
Total stockholders' equity	4,141,710	4,131,444
Total liabilities and stockholders' equity	$ 7,463,940	$ 7,411,307

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 27,366	$ 31,030
Accumulated depreciation and depletion on Property, plant and equipment	2,159,166	1,827,011
Accumulated amortization of Intangible and other long-term assets	$ 110,115	$ 84,567
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	153,958,963	158,976,784
Common stock, shares outstanding	154,019,882	159,158,022

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Consolidated Statements of Operations [Abstract]
Services	$ 935,560	$ 848,941	$ 2,574,565	$ 2,552,792
Rentals	273,466	247,471	803,431	721,621
Total Revenues	1,209,026	1,096,412	3,377,996	3,274,413
Costs and expenses:
Cost of services (exclusive of items shown separately below)	721,692	671,632	2,023,590	1,969,930
Cost of Services	597,992	581,556	1,704,165	1,706,188
Cost of rentals	123,700	90,076	319,425	263,742
Depreciation, depletion, amortization and accretion	170,154	152,028	493,437	446,432
General and administrative expenses	154,859	147,364	457,631	440,812
Income from operations	162,321	125,388	403,338	417,239
Other income (expense):
Interest expense, net	(24,169)	(25,564)	(72,610)	(81,610)
Gains (Losses) on Extinguishment of Debt				(884)
Other Nonoperating Income (Expense)	(2,051)	(1,697)	(1,480)	41
Income from continuing operations before income taxes	136,101	98,127	329,248	334,786
Income taxes	50,358	30,658	121,822	112,620
Net income (loss) from continuing operations	85,743	67,469	207,426	222,166
Income (loss) from discontinued operations, net of tax	(5,886)	2,366	(15,735)	(20,045)
Net income	$ 79,857	$ 69,835	$ 191,691	$ 202,121
Earnings per share information:
Continuing operations	$ 0.55	$ 0.42	$ 1.33	$ 1.40
Discontinued operations	(0.03)	0.02	(0.10)	(0.13)
Basic earnings per share	0.52	0.44	1.23	1.27
Continuing operations	0.55	0.42	1.31	1.38
Discontinued operations	(0.04)	0.01	(0.10)	(0.12)
Diluted earnings per share	0.51	$ 0.43	1.21	$ 1.26
Common Stock, Dividends, Per Share, Cash Paid	$ 0.08		$ 0.24
Weighted average common shares used in computing earnings per share:
Basic	154,530	159,326	156,424	159,204
Incremental common shares from stock based compensation	1,806	1,557	1,644	1,600
Diluted	156,336	160,883	158,068	160,804

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statement of Comprehensive Income [Abstract]
Net income	$ 79,857	$ 69,835	$ 191,691	$ 202,121
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		1,007		(448)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax			1,153
Change in cumulative translation adjustment	(14,439)	10,942	(8,720)	(2,203)
Comprehensive income	$ 65,418	$ 81,784	$ 184,124	$ 199,470

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income	$ 191,691	$ 202,121
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	494,801	462,627
Loss on early extinguishment of debt		884
Deferred income taxes	(15,767)	113,207
Stock based and performance share unit compensation expense	32,899	26,788
Amortization of debt acquisition costs and note discount	6,126	6,819
Other reconciling items, net	(20,884)	(6,562)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(60,611)	140
Inventory and other current assets	29,495	(54,924)
Accounts payable	30,198	7,085
Accrued expenses	36,802	24,721
Income taxes	43,214	(183,420)
Other, net	(3,653)	36,627
Net Cash Provided by (Used in) Operating Activities, Total	764,311	636,113
Cash flows from investing activities:
Payments for capital expenditures	(438,349)	(466,831)
Proceeds from Sale of Available-for-sale Securities, Equity	10,622
Acquisitions of businesses, net of cash acquired	(2,380)	(23,797)
Other	20,575	2,709
Net Cash Provided by (Used in) Investing Activities, Total	(409,532)	(465,269)
Proceeds from Insurance Settlement, Investing Activities		22,650
Cash flows from financing activities:
Principal payments of long-term debt	(15,000)	(165,000)
Payments of Ordinary Dividends, Common Stock	37,586
Proceeds from exercise of stock options	10,554	5,551
Payments for purchase and retirement of Common Stock	(185,552)
Other	(89)	(9,924)
Net Cash Provided by (Used in) Financing Activities, Total	(227,673)	(169,373)
Repayments of Long-term Lines of Credit	(14,736)	(561,771)
Proceeds from Long-term Lines of Credit	14,736	561,771
Effect of exchange rate changes on cash	(3,111)	(2,019)
Net increase in cash and cash equivalents	123,995	(548)
Cash and cash equivalents at beginning of period	196,047	91,199
Cash and cash equivalents at end of period	$ 320,042	$ 90,651

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2014
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; 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, 2013, and Management’s Discussion and Analysis of Financial Condition and Results of Operations herein. The financial information of Superior Energy Services, Inc. and subsidiaries (the Company) for the three and nine months ended September 30, 2014 and 2013 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 nine months of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Certain previously reported amounts have been reclassified to conform to the 2014 presentation. 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 other than those disclosed herein.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6228881-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 272
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-SubTopic 15
-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

+ Details

Dispositions

9 Months Ended

Sep. 30, 2014

Dispositions [Abstract]

Dispositions

(2)Discontinued Operations

During the first quarter of 2014, the Company conducted a strategic review and analysis of its subsea construction business. As of September 30, 2014, the Company was committed to sell the assets of and exit its subsea construction business. The disposition of assets is expected to be completed by the end of the first half of 2015.

During the first quarter of 2014, the Company also made a decision to discontinue its conventional decommissioning business. As of September 30, 2014, the Company was committed to sell the assets of and exit its conventional decommissioning business. The disposition of the assets is expected to be completed by the end of the first half of 2015.

Both of the subsea construction business and conventional decommissioning business were included in the Technical Solutions segment, formerly referred to as the Subsea and Technical Solutions segment. As of September 30, 2014, the assets and liabilities of these businesses were classified as held for sale. For the three and nine months ended September 30, 2014 and 2013, the results of operations of these businesses are reported as discontinued operations in the consolidated statements of operations.

The following summarizes certain financial information of the businesses reported as discontinued operations (in thousands):



	Three Months Ended September 30,
	2014		2013
Revenues	$	34,210	$	92,203

Income/(loss) from discontinued operations, net of tax benefit of $4,063 and tax expense of $485, respectively		(5,886)		2,366



	Nine Months Ended September 30,
	2014		2013
Revenues	$	111,735	$	209,394

Loss from discontinued operations, net of tax benefit of $10,131 and $3,786, respectively		(15,735)		(20,045)

The following summarizes the assets and liabilities related to the businesses reported as discontinued operations (in thousands):



	September 30, 2014		December 31, 2013
Accounts receivable, net	$	25,415	$	26,858
Prepaid expenses		5,810		8,164
Inventory and other current assets		30,891		63,618
Current assets	$	62,116	$	98,640
Property, plant and equipment, net		219,223		217,089
Intangible and other long-term assets, net		4,420		4,854
Long-term assets	$	223,643	$	221,943
Accounts payable		21,478		13,449
Accrued expenses		37,362		52,133
Current liabilities	$	58,840	$	65,582
Other long-term liabilities	$	18,009	$	21,801

Assets and liabilities held for sale include a capital lease for a dynamically positioned subsea vessel. Such amounts are recorded at the present value of the lease payments. The vessel’s gross asset value under the capital lease was approximately $37.6 million at inception and accumulated depreciation through September 30, 2014 and December 31, 2013 was approximately $17.4 million and $16.4 million, respectively. As of September 30, 2014, $18.0 million of other long-term liabilities and $4.5 million of accounts payable related to this capital lease are included in the liabilities held for sale. As of December 31, 2013, $21.4 million of other long-term liabilities and $4.2 million of accounts payable related to this capital lease are included in the liabilities held for sale.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2014
Acquisitions [Abstract]
Acquisitions	(3)Acquisitions In March 2013, the Company acquired all of the equity interests in a company that provides cementing services in Colombia. The Company paid approximately $20.4 million at closing and repaid $3.0 million of the acquired company’s debt. During the nine months ended September 30, 2014, the Company paid $2.4 million as a result of a post-closing process to reconcile the net working capital of the acquired company and settlement of certain liabilities. The Company will pay up to an additional $1.3 million during the first half of 2015, subject to the settlement of certain liabilities. Goodwill of approximately $15.1 million was recognized as a result of this acquisition and was calculated as the excess of the consideration paid over the net assets recognized and represents estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. None of the goodwill related to this acquisition will be deductible for tax purposes. All of the goodwill was assigned to the Production Services segment. In October 2014, the Company acquired all of the equity interests in a company that provides well testing and slickline services in India. The purchase price of the acquisition was approximately $25.0 million.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479

+ Details

Accelerated Share Repurchases	9 Months Ended
Accelerated Share Repurchases	Sep. 30, 2014
Accelerated Share Repurchase Program [Abstract]
Accelerated Share Repurchases Program [Text Block]	(4)Accelerated Share Repurchase Program In March 2014, the Company entered into an accelerated share repurchase program with a third-party financial institution to purchase $75.0 million aggregate amount of shares of the Company’s outstanding common stock. The Company paid $75.0 million and received and retired an initial delivery of 1,899,055 shares that represented approximately 75% of the total number of shares repurchased under the agreement. In April 2014, the accelerated share repurchase program was completed and the Company received and retired 633,485 additional shares.

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2014
Earnings Per Share [Abstract]
Earnings per Share	(5)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. Stock options for approximately 284,000 and 1,100,000 shares of the Company’s common stock for the three months ended September 30, 2014 and 2013, respectively, and approximately 1,054,000 and 1,210,000 shares of the Company’s common stock for the nine months ended September 30, 2014 and 2013, respectively, were excluded in the computation of diluted earnings per share for these periods as the effect would have been anti-dilutive.

Stock Based Compensation and Retirement Plans	9 Months Ended
Stock Based Compensation and Retirement Plans	Sep. 30, 2014
Stock Based Compensation and Retirement Plans [Abstract]
Stock Based Compensation and Retirement Plans	(6)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, non-qualified 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 $33.5 million and $27.7 million for the nine months ended September 30, 2014 and 2013, respectively, which is reflected in general and administrative expenses.

Inventory and Other Current Assets

9 Months Ended

Sep. 30, 2014

Inventory and Other Current Assets [Abstract]

Inventory and Other Current Assets

(7)Inventory and Other Current Assets

Inventory and other current assets includes approximately $164.0 million and $162.9 million of inventory as of September 30, 2014 and December 31, 2013, respectively. Inventories are stated at the lower of cost or market. 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 our services provided to customers. The components of the inventory balances are as follows (in thousands):



	September 30, 2014		December 31, 2013
Finished goods	$	66,340	$	65,621
Raw materials		33,281		20,764
Work-in-process		18,445		20,064
Supplies and consumables		45,936		56,470
Total	$	164,002	$	162,919

As of December 31, 2013, inventory and other current assets also included approximately $8.8 million of available-for-sale securities recorded at fair value. These available-for-sale securities consisted of approximately 1.4 million shares of SandRidge Energy, Inc. (SandRidge) common stock held by the Company. During the second quarter of 2014, the Company sold all of the remaining shares of SandRidge common stock for approximately $10.6 million. In connection with the sale, the Company reversed approximately $1.2 million of previously recorded unrealized losses, of which approximately $1.8 million was reclassified out of accumulated other comprehensive loss, net of tax benefit of approximately $0.6 million. During the nine months ended September 30, 2013, the Company recorded an unrealized loss related to the fair value of these securities of approximately $0.7 million, of which approximately $0.5 million was reported within accumulated other comprehensive loss, net of tax expense of approximately $0.2 million.

Goodwill	9 Months Ended
Goodwill	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure [Text Block]	(8)Goodwill Goodwill is tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of the asset has decreased below its carrying value. During the third quarter of 2014, the Company changed its annual goodwill impairment testing date from December 31 to October 1 of each year. Management considers this accounting change preferable because it allows the Company additional time to complete the annual goodwill impairment test. This change does not accelerate, delay, avoid, or cause an impairment charge, nor does this change result in adjustments to previously issued financial statements. The Company will complete its annual goodwill impairment test during the fourth quarter of 2014.

Debt	9 Months Ended
Debt	Sep. 30, 2014
Debt [Abstract]
Debt	(9)Debt Credit Facility The Company has a $1.0 billion bank credit facility, comprised of a $600 million revolving credit facility and a $400 million term loan. The principal balance of the term loan is payable in installments of $5.0 million on the last day of each fiscal quarter, which began on June 30, 2012. As of September 30, 2014, the Company had $350 million outstanding under the term loan and had no amounts outstanding under the revolving portion of its credit facility. The Company also had approximately $48.2 million of letters of credit outstanding that reduce the Company’s borrowing availability under the revolving portion of the credit facility. All amounts outstanding under the bank credit facility are due on February 7, 2017. Amounts borrowed under the credit facility bear interest at LIBOR plus margins that depend on the Company’s leverage ratio. Indebtedness under the credit facility is secured by substantially all of the Company’s assets, including the pledge of the stock of the Company’s principal domestic subsidiaries. Senior Unsecured Notes The Company has outstanding $500 million of 6 3/8% unsecured senior notes due 2019. The indenture governing the 6 3/8% senior notes requires semi-annual interest payments on May 1st and November 1st of each year through the maturity date of May 1, 2019. The Company also has outstanding $800 million of 7 1/8% unsecured senior notes due 2021. The indenture governing the 7 1/8% senior notes requires semi-annual interest payments on June 15th and December 15th of each year through the maturity date of December 15, 2021.

Decommissioning Liabilities

9 Months Ended

Sep. 30, 2014

Decommissioning Liabilities [Abstract]

Decommissioning Liabilities

(10)Decommissioning Liabilities

The Company records estimated future decommissioning liabilities in accordance with the authoritative guidance related to asset retirement obligations, which requires entities to record the fair value of a liability for an asset retirement obligation in the period in which it is incurred, with a corresponding increase in the carrying amount of the related long-lived asset. Subsequent to initial measurement, the decommissioning liability is required to be accreted each period to present value.

The Company has decommissioning liabilities associated with its Bullwinkle platform and related assets that consist of costs related to the plugging of wells, the removal of the related facilities and equipment, and site restoration. Whenever practical, the Company utilizes its own equipment and labor services to perform well abandonment and decommissioning work. When the Company performs these services, all recorded intercompany revenues and related costs of services are eliminated in the condensed consolidated financial statements. The recorded decommissioning liability associated with a specific property is fully extinguished when the property is abandoned. The recorded liability is first reduced by all cash expenses incurred to abandon and decommission the property. If the recorded liability exceeds (or is less than) the Company’s total costs, then the difference is reported as an increase or decrease in revenue during the period in which the work is performed.

The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows needed to satisfy the liabilities have changed materially. During the fourth quarter of 2013, as a result of an increase in third party drilling activity in the vicinity of the Bullwinkle platform, the Company believed new economic opportunities existed for additional production handling agreements with those third party production companies utilizing the Bullwinkle platform. As a result, the Company revised its estimates relating to the timing of decommissioning work on its Bullwinkle assets, including a 10 year postponement of the platform decommissioning to an estimated date of 2038. This change in estimate resulted in a reduction in the present value of decommissioning liabilities. Further, as of December 31, 2013, the Company anticipated that it would be able to decommission several depleted wells that are part of the Bullwinkle assets based on the estimates received from engineers regarding platform availability during 2014. As a result, as of December 31, 2013, the decommissioning liabilities associated with those wells were classified as current liabilities on the consolidated balance sheet. Based on revised estimates received during the second quarter of 2014, the Company does not anticipate decommissioning any of the wells during the next twelve months. As a result, all of the decommissioning liabilities were classified as long-term liabilities on the consolidated balance sheet as of September 30, 2014.

The following table summarizes the activity for the Company’s decommissioning liabilities for the nine months ended September 30, 2014 and 2013 (in thousands):



	Nine Months Ended September 30,
	2014		2013
Decommissioning liabilities, December 31, 2013 and 2012, respectively	$	83,519	$	93,053
Liabilities acquired and incurred		866		360
Liabilities settled		-		(87)
Accretion		3,324		4,269
Revision in estimated liabilities		(266)		-
Total decommissioning liabilities, September 30, 2014 and 2013, respectively	$	87,443	$	97,595

Notes Receivable	9 Months Ended
Notes Receivable	Sep. 30, 2014
Notes Receivable [Abstract]
Notes Receivable	(11) Notes Receivable Notes receivable consist of a commitment from the seller of an oil and gas property acquired by the Company towards 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 $1.2 million and $2.2 million for the nine months ended September 30, 2014 and 2013, respectively.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Information [Abstract]

Segment Information

(12) Segment Information

Business Segments

The Drilling Products and Services segment rents and sells bottom hole assemblies, premium drill pipe, 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 bolting 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. It also provides specialized pressure control tools used to manage and control pressure throughout the life of a well. The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well control services, well containment systems, stimulation and sand control services and well plug and abandonment services. It also includes production handling arrangements and the production and sale of oil and gas.

For the three and nine months ended September 30, 2014 and 2013, operating results for the Company’s subsea construction and conventional decommissioning businesses are reported in discontinued operations (see note 2). Previously those operating results were reported within the Technical Solutions segment, which was named the Subsea and Technical Solutions segment.

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 expense 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 which 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 for the three and nine months ended September 30, 2014 and 2013 is shown in the following tables (in thousands):



Three Months Ended September 30, 2014

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	239,204	$	470,849	$	348,793	$	150,180	$	-	$	1,209,026
Cost of services and rentals
(exclusive of items shown separately below)		76,277		317,433		248,567		79,415		-		721,692
Depreciation, depletion, amortization and accretion		47,904		59,009		41,225		22,016		-		170,154
General and administrative expenses		36,913		39,625		45,627		32,694		-		154,859
Income from operations		78,110		54,782		13,374		16,055		-		162,321
Interest expense, net		-		-		-		404		(24,573)		(24,169)
Other expense		-		-		-		-		(2,051)		(2,051)
Income (loss) from continuing operations before income taxes	$	78,110	$	54,782	$	13,374	$	16,459	$	(26,624)	$	136,101



Three Months Ended September 30, 2013

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	215,523	$	398,016	$	359,722	$	123,151	$	-	$	1,096,412
Cost of services and rentals
(exclusive of items shown separately below)		73,873		275,676		251,575		70,508		-		671,632
Depreciation, depletion, amortization and accretion		42,390		52,576		45,554		11,508		-		152,028
General and administrative expenses		35,864		37,216		46,735		27,549		-		147,364
Income from operations		63,396		32,548		15,858		13,586		-		125,388
Interest expense, net		-		-		-		743		(26,307)		(25,564)
Other expense		-		-		-		-		(1,697)		(1,697)
Income (loss) from continuing operations before income taxes	$	63,396	$	32,548	$	15,858	$	14,329	$	(28,004)	$	98,127



Nine Months Ended September 30, 2014

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	685,396	$	1,258,774	$	1,013,904	$	419,922	$	-	$	3,377,996
Cost of services and rentals
(exclusive of items shown separately below)		216,166		876,575		706,911		223,938		-		2,023,590
Depreciation, depletion, amortization and accretion		140,265		174,995		123,213		54,964		-		493,437
General and administrative expenses		117,026		114,604		138,058		87,943		-		457,631
Income from operations		211,939		92,600		45,722		53,077		-		403,338
Interest expense, net		-		-		-		1,167		(73,777)		(72,610)
Other expense		-		-		-		-		(1,480)		(1,480)
Income (loss) from continuing operations before income taxes	$	211,939	$	92,600	$	45,722	$	54,244	$	(75,257)	$	329,248



Nine Months Ended September 30, 2013

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	614,924	$	1,222,215	$	1,096,185	$	341,089	$	-	$	3,274,413
Cost of services and rentals
(exclusive of items shown separately below)		205,502		819,472		756,954		188,002		-		1,969,930
Depreciation, depletion, amortization and accretion		125,768		158,021		133,361		29,282		-		446,432
General and administrative expenses		104,002		116,786		143,349		76,675		-		440,812
Income from operations		179,652		127,936		62,521		47,130		-		417,239
Interest expense, net		-		-		-		2,195		(83,805)		(81,610)
Other income		-		-		-		-		41		41
Loss on early extinguishment of debt		-		-		-		-		(884)		(884)
Income (loss) from continuing operations before income taxes	$	179,652	$	127,936	$	62,521	$	49,325	$	(84,648)	$	334,786



Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
September 30, 2014	$	1,282,129	$	3,012,785	$	2,123,888	$	1,045,138	$	-	$	7,463,940
December 31, 2013	$	1,245,501	$	2,973,916	$	2,176,785	$	1,015,105	$	-	$	7,411,307

As of September 30, 2014, the Technical Solutions segment included $285.8 million of identifiable assets of the subsea construction and conventional decommissioning businesses that were classified as assets held for sale on the consolidated balance sheet.

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 leased. 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. As of September 30, 2014, the assets of the subsea construction and conventional decommissioning businesses were classified as assets held for sale on the consolidated balance sheet. The Company’s revenue by geographic area for the three and nine months ended September 30, 2014 and 2013 and long-lived assets by geographic area as of September 30, 2014 and December 31, 2013 are as follows (in thousands):



Revenues:
	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
United States	$	1,024,919	$	932,686	$	2,850,179	$	2,783,756
Other Countries		184,107		163,726		527,817		490,657
Total	$	1,209,026	$	1,096,412	$	3,377,996	$	3,274,413

Long-Lived Assets:
					September 30, 2014		December 31, 2013
United States					$	2,343,365	$	2,476,792
Other Countries						359,167		525,402
Total, net					$	2,702,532	$	3,002,194

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Fair Value Measurements

(13) Fair Value Measurements

The Company follows the authoritative guidance for fair value measurements relating to financial and nonfinancial assets and liabilities, including presentation of required disclosures herein. This guidance establishes a fair value framework requiring the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets and liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined 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 as of September 30, 2014 and December 31, 2013 (in thousands):



			Fair Value Measurements at Reporting Date Using
	September 30, 2014		Level 1		Level 2		Level 3
Intangible and other long-term assets, net
Non-qualified deferred compensation assets	$	11,830	$	342	$	11,488		-
Interest rate swaps	$	2,642		-	$	2,642		-
Accounts payable
Non-qualified deferred compensation liabilities	$	2,667		-	$	2,667		-
Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,052		-	$	14,052		-

	December 31, 2013		Level 1		Level 2		Level 3
Inventory and other current assets
Available-for-sale securities	$	8,817	$	8,817		-		-
Intangible and other long-term assets, net
Non-qualified deferred compensation assets	$	13,731	$	2,330	$	11,401		-
Interest rate swap	$	337		-	$	337		-
Accounts payable
Non-qualified deferred compensation liabilities	$	1,944		-	$	1,944		-
Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,986		-	$	14,986		-

As of December 31, 2013, available-for-sale securities was comprised of approximately 1.4 million shares of SandRidge common stock. The securities were reported at fair value based on the closing price of the shares as reported on the New York Stock Exchange (see note 7).

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. The Company entered into separate trust agreements, subject to general creditors, to segregate assets of each plan and reports the accounts of the trusts in its condensed consolidated financial statements. 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 Company has three interest rate swap agreements related to its fixed rate debt maturing in 2021 for notional amounts of $100 million each, whereby the Company is entitled to receive semi-annual interest payments at a fixed rate of 7 1/8% per annum and is obligated to make semi-annual interest payments at floating rates, which are adjusted every 90 days, based on LIBOR plus a fixed margin. The swap agreements, scheduled to terminate on December 15, 2021, are designated as fair value hedges of a portion of the Company’s 7 1/8% senior notes, as the derivatives have been tested to be highly effective in offsetting changes in the fair value of the underlying note. As these derivatives are classified as fair value hedges, the changes in the fair value of the derivatives are offset against the changes in the fair value of the underlying note in interest expense, net (see note 14).

The fair value of the Company’s cash equivalents, accounts receivable and current maturities of long-term debt approximates their carrying amounts. The fair value of the Company’s long-term debt was approximately $1,753.2 million and $1,789.0 million as of September 30, 2014 and December 31, 2013, respectively. The fair value of these debt instruments is determined by reference to the market value of the instruments as quoted in over-the-counter markets, which are Level 1 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2014

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

(14) Derivative Financial Instruments

From time to time, the Company may employ interest rate swaps in an attempt to achieve a more balanced debt portfolio between fixed and variable interest. The Company does not use derivative financial instruments for trading or speculative purposes.

The Company has three interest rate swaps for notional amounts of $100 million each related to its 7 1/8% senior notes maturing in December 2021. These interest rate swaps are accounted for as fair value hedges since the swaps hedge against the change in fair value of fixed rate debt resulting from changes in interest rates. The Company recorded a derivative asset relating to these swaps of $2.6 million and $0.3 million within intangible and other long term assets in the consolidated balance sheets as of September 30, 2014 and December 31, 2013, respectively.

The changes in fair value of the interest rate swaps are included in the adjustments to reconcile net income to net cash provided by operating activities in the consolidated statement of cash flows. The effect and location of the derivative instruments in the condensed consolidated statement of operations, presented on a pre-tax basis, are as follows (in thousands):



		Three Months Ended September 30,
Effect of derivative instrument	Location of (gain) loss recognized	2014		2013
Interest rate swap	Interest expense, net	$	1,907	$	(513)
Hedged item - debt	Interest expense, net		(2,639)		615
		$	(732)	$	102



		Nine Months Ended September 30,
		2014		2013
Interest rate swap	Interest expense, net	$	(6,727)	$	7,383
Hedged item - debt	Interest expense, net		4,422		(6,886)
		$	(2,305)	$	497

For the nine months ended September 30, 2014 and 2013, approximately $2.3 million of interest income and $0.5 million of interest expense, respectively, was related to the ineffectiveness associated with these fair value hedges. Hedge ineffectiveness represents the difference between the changes in fair value of the derivative instruments and the changes in fair value of the fixed rate debt attributable to changes in the benchmark interest rate.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Taxes [Abstract]
Income Taxes	(15) Income Taxes The Company follows authoritative guidance with respect to accounting for uncertainty in income taxes. It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense. The Company had approximately $29.9 million of unrecorded tax benefits as of September 30, 2014 and December 31, 2013, all of which would impact the Company’s effective tax rate if recognized.

Related Party Disclosures	9 Months Ended
Related Party Disclosures	Sep. 30, 2014
Related Party Transactions [Abstract]
Related Party Disclosures	(16) Related Party Disclosures The Company purchases services, products and equipment, as well as leases certain facilities, from companies affiliated with an officer of one of its subsidiaries. The Company believes the transactions reflected below with these related parties are on terms and conditions no less favorable to the Company than transactions with unaffiliated parties. For the nine months ended September 30, 2014 and 2013, these purchases totaled approximately $146.8 million and $140.7 million, respectively. For the nine months ended September 30, 2014, approximately $56.7 million was purchased from ORTEQ Energy Services, a heavy equipment construction company which also manufactures pressure pumping equipment, approximately $0.6 million was purchased from Ortowski Construction, primarily related to the manufacture of pressure pumping units, approximately $15.2 million was paid to Resource Transport, LLC, related to the transportation of sand used in pressure pumping activities, approximately $51.6 million was purchased from Texas Specialty Sands, LLC, primarily for the purchase of sand used for pressure pumping activities, approximately $21.1 million was purchased from ProFuel, LLC, primarily related to the purchase of diesel used to operate equipment and trucks, and approximately $1.6 million was related to leasehold improvements and facilities leased from Timber Creek Real Estate Partners. For the nine months ended September 30, 2013, approximately $41.1 million was purchased from ORTEQ Energy Services, approximately $0.1 million was purchased from Ortowski Construction, approximately $11.9 million was paid to Resource Transport, LLC, approximately $64.6 million was purchased from Texas Specialty Sands, LLC, approximately $22.6 million was purchased from ProFuel, LLC and approximately $0.4 million was related to facilities leased from Timber Creek Real Estate Partners. As of September 30, 2014, the Company’s trade accounts payable includes amounts due to these companies totaling approximately $29.0 million, of which approximately $4.6 million was due ORTEQ Energy Services, approximately $4.0 million was due Resource Transport, LLC, approximately $16.2 million was due Texas Specialty Sands, LLC and approximately $4.2 million was due ProFuel, LLC. As of December 31, 2013, the Company’s trade accounts payable includes amounts due to these companies totaling approximately $14.6 million, of which approximately $7.8 million was due ORTEQ Energy Services, approximately $0.9 million was due Resource Transport, LLC, approximately $2.0 million was due Texas Specialty Sands, LLC, approximately $2.6 million was due ProFuel, LLC and approximately $1.3 million was due Timber Creek Real Estate Partners. The Company’s President and Chief Executive Officer serves as an independent director of the board of Linn Energy, LLC (Linn), an independent oil and gas development company with focus areas in the Rockies, Mid-Continent, the Hugoton Basin, California, the Permian Basin, Michigan, Illinois and east Texas. The Company recorded revenues from Linn and its subsidiaries of approximately $15.3 million and $15.9 million for the nine months ended September 30, 2014 and 2013, respectively. The Company had trade receivables from Linn and its subsidiaries of approximately $1.3 million and $2.9 million as of September 30, 2014 and December 31, 2013, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2014
New Accounting Pronouncements and Changes in Accounting Principles
New Accounting Pronouncements, Policy [Policy Text Block]	(17) Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09, Revenue from Contracts with Customers, which will replace most existing revenue recognition guidance in GAAP. The guidance in this update requires an entity to recognize the amount of revenue that it expects to be entitled for the transfer of promised goods or services to customers. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the accounting guidance on its ongoing financial reporting. In April 2014, the Financial Accounting Standards Board issued ASU No. 2014-08, Presentation of Financial Statements and Property, Plant and Equipment, which changes the definition of discontinued operations. The guidance permits only those disposed components (or components held-for-sale) representing a strategic shift that have (or will have) a major effect on operations and financial results to be reported in discontinued operations. The new standard is effective prospectively for disposals (or classifications as held-for-sale) that occur after December 31, 2014. The Company elected not to early adopt the accounting guidance.

Dispositions (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2014

Dispositions [Abstract]

Components of income (loss) from discontinued operations



	Three Months Ended September 30,
	2014		2013
Revenues	$	34,210	$	92,203

Income/(loss) from discontinued operations, net of tax benefit of $4,063 and tax expense of $485, respectively		(5,886)		2,366



	Nine Months Ended September 30,
	2014		2013
Revenues	$	111,735	$	209,394

Loss from discontinued operations, net of tax benefit of $10,131 and $3,786, respectively		(15,735)		(20,045)

Assets and liabilities of disposal groups



	September 30, 2014		December 31, 2013
Accounts receivable, net	$	25,415	$	26,858
Prepaid expenses		5,810		8,164
Inventory and other current assets		30,891		63,618
Current assets	$	62,116	$	98,640
Property, plant and equipment, net		219,223		217,089
Intangible and other long-term assets, net		4,420		4,854
Long-term assets	$	223,643	$	221,943
Accounts payable		21,478		13,449
Accrued expenses		37,362		52,133
Current liabilities	$	58,840	$	65,582
Other long-term liabilities	$	18,009	$	21,801

Inventory and Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]



	September 30, 2014		December 31, 2013
Finished goods	$	66,340	$	65,621
Raw materials		33,281		20,764
Work-in-process		18,445		20,064
Supplies and consumables		45,936		56,470
Total	$	164,002	$	162,919

Decommissioning Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Decommissioning Liabilities [Abstract]

Summary the activity for company's decommissioning liabilities



	Nine Months Ended September 30,
	2014		2013
Decommissioning liabilities, December 31, 2013 and 2012, respectively	$	83,519	$	93,053
Liabilities acquired and incurred		866		360
Liabilities settled		-		(87)
Accretion		3,324		4,269
Revision in estimated liabilities		(266)		-
Total decommissioning liabilities, September 30, 2014 and 2013, respectively	$	87,443	$	97,595

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Information [Abstract]

Identifiable Assets



Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
September 30, 2014	$	1,282,129	$	3,012,785	$	2,123,888	$	1,045,138	$	-	$	7,463,940
December 31, 2013	$	1,245,501	$	2,973,916	$	2,176,785	$	1,015,105	$	-	$	7,411,307

Company's information by geographic area



Revenues:
	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
United States	$	1,024,919	$	932,686	$	2,850,179	$	2,783,756
Other Countries		184,107		163,726		527,817		490,657
Total	$	1,209,026	$	1,096,412	$	3,377,996	$	3,274,413

Long-Lived Assets:
					September 30, 2014		December 31, 2013
United States					$	2,343,365	$	2,476,792
Other Countries						359,167		525,402
Total, net					$	2,702,532	$	3,002,194

Schedule Of Segment Reporting Information By Segment



Three Months Ended September 30, 2014

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	239,204	$	470,849	$	348,793	$	150,180	$	-	$	1,209,026
Cost of services and rentals
(exclusive of items shown separately below)		76,277		317,433		248,567		79,415		-		721,692
Depreciation, depletion, amortization and accretion		47,904		59,009		41,225		22,016		-		170,154
General and administrative expenses		36,913		39,625		45,627		32,694		-		154,859
Income from operations		78,110		54,782		13,374		16,055		-		162,321
Interest expense, net		-		-		-		404		(24,573)		(24,169)
Other expense		-		-		-		-		(2,051)		(2,051)
Income (loss) from continuing operations before income taxes	$	78,110	$	54,782	$	13,374	$	16,459	$	(26,624)	$	136,101



Three Months Ended September 30, 2013

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	215,523	$	398,016	$	359,722	$	123,151	$	-	$	1,096,412
Cost of services and rentals
(exclusive of items shown separately below)		73,873		275,676		251,575		70,508		-		671,632
Depreciation, depletion, amortization and accretion		42,390		52,576		45,554		11,508		-		152,028
General and administrative expenses		35,864		37,216		46,735		27,549		-		147,364
Income from operations		63,396		32,548		15,858		13,586		-		125,388
Interest expense, net		-		-		-		743		(26,307)		(25,564)
Other expense		-		-		-		-		(1,697)		(1,697)
Income (loss) from continuing operations before income taxes	$	63,396	$	32,548	$	15,858	$	14,329	$	(28,004)	$	98,127



Nine Months Ended September 30, 2014

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	685,396	$	1,258,774	$	1,013,904	$	419,922	$	-	$	3,377,996
Cost of services and rentals
(exclusive of items shown separately below)		216,166		876,575		706,911		223,938		-		2,023,590
Depreciation, depletion, amortization and accretion		140,265		174,995		123,213		54,964		-		493,437
General and administrative expenses		117,026		114,604		138,058		87,943		-		457,631
Income from operations		211,939		92,600		45,722		53,077		-		403,338
Interest expense, net		-		-		-		1,167		(73,777)		(72,610)
Other expense		-		-		-		-		(1,480)		(1,480)
Income (loss) from continuing operations before income taxes	$	211,939	$	92,600	$	45,722	$	54,244	$	(75,257)	$	329,248



Nine Months Ended September 30, 2013

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	614,924	$	1,222,215	$	1,096,185	$	341,089	$	-	$	3,274,413
Cost of services and rentals
(exclusive of items shown separately below)		205,502		819,472		756,954		188,002		-		1,969,930
Depreciation, depletion, amortization and accretion		125,768		158,021		133,361		29,282		-		446,432
General and administrative expenses		104,002		116,786		143,349		76,675		-		440,812
Income from operations		179,652		127,936		62,521		47,130		-		417,239
Interest expense, net		-		-		-		2,195		(83,805)		(81,610)
Other income		-		-		-		-		41		41
Loss on early extinguishment of debt		-		-		-		-		(884)		(884)
Income (loss) from continuing operations before income taxes	$	179,652	$	127,936	$	62,521	$	49,325	$	(84,648)	$	334,786

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Summary of financial assets and liabilities measured at fair value on recurring basis



			Fair Value Measurements at Reporting Date Using
	September 30, 2014		Level 1		Level 2		Level 3
Intangible and other long-term assets, net
Non-qualified deferred compensation assets	$	11,830	$	342	$	11,488		-
Interest rate swaps	$	2,642		-	$	2,642		-
Accounts payable
Non-qualified deferred compensation liabilities	$	2,667		-	$	2,667		-
Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,052		-	$	14,052		-

	December 31, 2013		Level 1		Level 2		Level 3
Inventory and other current assets
Available-for-sale securities	$	8,817	$	8,817		-		-
Intangible and other long-term assets, net
Non-qualified deferred compensation assets	$	13,731	$	2,330	$	11,401		-
Interest rate swap	$	337		-	$	337		-
Accounts payable
Non-qualified deferred compensation liabilities	$	1,944		-	$	1,944		-
Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,986		-	$	14,986		-

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Financial Instruments [Abstract]

Location and effect of the derivative instrument on the statements of operations



		Three Months Ended September 30,
Effect of derivative instrument	Location of (gain) loss recognized	2014		2013
Interest rate swap	Interest expense, net	$	1,907	$	(513)
Hedged item - debt	Interest expense, net		(2,639)		615
		$	(732)	$	102



		Nine Months Ended September 30,
		2014		2013
Interest rate swap	Interest expense, net	$	(6,727)	$	7,383
Hedged item - debt	Interest expense, net		4,422		(6,886)
		$	(2,305)	$	497

Dispositions (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Dispositions [Abstract]
Vessel's gross asset value under the capital lease at inception	$ 37.6
Vessel's gross asset value under the capital lease at depreciation	17.4	$ 16.4
Other long-term liabilities	18.0	21.4
Accounts Payable Related to Obligations Under Capital Lease	$ 4.5	$ 4.2

Dispositions (Components of income (loss) from discontinued operations, net of tax) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items]
Income tax expense (benefit)	$ 4,063	$ (485)	$ 10,131	$ 3,786
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(5,886)	2,366	(15,735)	(20,045)
Segment, Discontinued Operations [Member]
Income Statement Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items]
Revenues	34,210	92,203	111,735	209,394
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ (5,886)	$ 2,366	$ (15,735)	$ (20,045)

Dispositions (Assets and liabilities of disposal groups) (Details) - Segment, Discontinued Operations [Member] - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Accounts receivable, net	$ 25,415	$ 26,858
Prepaid expenses	5,810	8,164
Inventory and other current assets	30,891	63,618
Current assets of discontinued operations	62,116	98,640
Property, plant and equipment, net	219,223	217,089
Intangible and other long-term assets, net	4,420	4,854
Long-term assets of discontinued operations	223,643	221,943
Accounts payable	21,478	13,449
Accrued expenses	37,362	52,133
Current liabilities of discontinued operations	58,840	65,582
Disposal Group, Including Discontinued Operation, Other Noncurrent Liabilities	$ 18,009	$ 21,801

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Mar. 31, 2013	Dec. 31, 2013
Business Acquisition [Line Items]
Cash paid to acquire equity interest	$ 25,000
Approximately cash paid	25,000
Goodwill	2,456,522		$ 2,458,109
Cementing Service Acquisitioin[Member]
Business Acquisition [Line Items]
Business acquisition, purchase price payable over next two years	1,300
Cash paid to acquire equity interest		$ 20,400
Approximately cash paid		20,400
Company will repay of complete debt		3,000
Goodwill		$ 15,100
Additional consideration attributable to acquisition	2,400
Yennai Acquisition [Member]
Business Acquisition [Line Items]
Cash paid to acquire equity interest	25,000
Approximately cash paid	$ 25,000

Accelerated Share Repurchases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2014
Accelerated Share Repurchases, Cash or Stock Settlement	April 2014
Accelerated Share Repurchases, Settlement			633,485
Accelerated Share Repurchases [Member]
Stock Repurchased During Period, Value		$ 75.0
Stock Repurchased During Period, Shares			1,899,055
Accelerated Share Repurchases, Percent of shares Authorized for Repurchase		75.00%

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
Earnings per Share (Details) - shares	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Stock options	284,000	1,100,000	1,054,000	1,210,000

Stock-Based Compensation and Retirement Plans (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Stock Based Compensation and Retirement Plans [Abstract]
Compensation expense	$ 33.5	$ 27.7

Inventory and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Inventory and Other Current Assets [Abstract]
Inventory	$ 164,002	$ 162,919
Finished Goods	66,340	65,621
Work in progress	18,445	20,064
Raw materials	33,281	20,764
Supplies and consumables	$ 45,936	$ 56,470

Inventory and Other Current Assets Additional Information (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Available-for-sale Securities [Abstract]
Available-for-sale securities, net unrealized holding gain (loss) reversed following sale		$ 1,200
Available-for-sale securities, unrealized holding gain (loss) reversed following sale		1,800
Number of shares comprising Available for Sale Securities				1.4
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)		600	$ 200
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax			700
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes			$ 500
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds	$ 10,600
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		$ (1,153)
Available-for-sale Securities, Current				$ 8,800

Debt (Details) - USD ($) $ in Thousands	9 Months Ended
Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 30, 2013
Debt Instrument [Line Items]
Gains (Losses) on Extinguishment of Debt		$ (884)
Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, Term Loan Amount Outstanding	$ 350,000
Credit facility, total borrowing capacity	1,000,000
Line of credit facility, revolving borrowing capacity	600,000
Aggregate principal amount of term loan	400,000
Line of Credit Facility, Periodic Payment	5,000
Letters of Credit Outstanding, Amount	48,200
Line of Credit Facility, Amount Outstanding	0
Unsecured Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 500,000
Stated interest rate on unsecured senior notes	6.375%
Unsecured Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 800,000

Decommissioning Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Summary of the activity for the Company's decommissioning liabilities
Decommissioning liabilities, December 31, 2013 and 2012, respectively	$ 83,519	$ 93,053
Liabilities acquired and incurred	866	360
Liabilities settled		(87)
Accretion	3,324	4,269
Revision estimated liabilities	(266)
Total decommissioning liabilities, September 30, 2014 and 2013, respectively	87,443	$ 97,595
Less: current portion of decommissioning liabilities at September 30, 2014 and 2013, respectively			$ 27,322
Long-term decommissioning liabilities, September 30, 2014 and 2013, respectively	$ 87,443		$ 56,197

Notes Receivable (Details) - USD ($) $ in Millions	9 Months Ended
Notes Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2014	Sep. 30, 2013
Notes Receivable [Abstract]
Amount of notes receivable net	$ 115.0
Interest rate percentage to record present value of notes receivable	6.58%
Company recorded interest income	$ 1.2	$ 2.2

Segment Information (Financial information for Company's segments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total revenues	$ 1,209,026	$ 1,096,412	$ 3,377,996	$ 3,274,413
Cost of services (exclusive of items shown separately below)	721,692	671,632	2,023,590	1,969,930
Depreciation, depletion, amortization and accretion	170,154	152,028	493,437	446,432
General and administrative expenses	154,859	147,364	457,631	440,812
Income from operations	162,321	125,388	403,338	417,239
Interest income (expense), net	(24,169)	(25,564)	(72,610)	(81,610)
Other Nonoperating Income (Expense)	(2,051)	(1,697)	(1,480)	41
Loss on early extinguishment of debt				(884)
Income (loss) from continuing operations before income taxes	136,101	98,127	329,248	334,786
Identifiable Assets	7,463,940		7,463,940		$ 7,411,307
Subsea and Technical Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	150,180	123,151	419,922	341,089
Cost of services (exclusive of items shown separately below)	79,415	70,508	223,938	188,002
Depreciation, depletion, amortization and accretion	22,016	11,508	54,964	29,282
General and administrative expenses	32,694	27,549	87,943	76,675
Income from operations	16,055	13,586	53,077	47,130
Interest income (expense), net	404	743	1,167	2,195
Income (loss) from continuing operations before income taxes	16,459	14,329	54,244	49,325
Identifiable Assets	1,045,138		1,045,138		1,015,105
Production Services [Member]
Segment Reporting Information [Line Items]
Total revenues	348,793	359,722	1,013,904	1,096,185
Cost of services (exclusive of items shown separately below)	248,567	251,575	706,911	756,954
Depreciation, depletion, amortization and accretion	41,225	45,554	123,213	133,361
General and administrative expenses	45,627	46,735	138,058	143,349
Income from operations	13,374	15,858	45,722	62,521
Income (loss) from continuing operations before income taxes	13,374	15,858	45,722	62,521
Identifiable Assets	2,123,888		2,123,888		2,176,785
Onshore Completion and Workover Services [Member]
Segment Reporting Information [Line Items]
Total revenues	470,849	398,016	1,258,774	1,222,215
Cost of services (exclusive of items shown separately below)	317,433	275,676	876,575	819,472
Depreciation, depletion, amortization and accretion	59,009	52,576	174,995	158,021
General and administrative expenses	39,625	37,216	114,604	116,786
Income from operations	54,782	32,548	92,600	127,936
Income (loss) from continuing operations before income taxes	54,782	32,548	92,600	127,936
Identifiable Assets	3,012,785		3,012,785		2,973,916
Drilling Products and Services [Member]
Segment Reporting Information [Line Items]
Total revenues	239,204	215,523	685,396	614,924
Cost of services (exclusive of items shown separately below)	76,277	73,873	216,166	205,502
Depreciation, depletion, amortization and accretion	47,904	42,390	140,265	125,768
General and administrative expenses	36,913	35,864	117,026	104,002
Income from operations	78,110	63,396	211,939	179,652
Income (loss) from continuing operations before income taxes	78,110	63,396	211,939	179,652
Identifiable Assets	1,282,129		1,282,129		$ 1,245,501
Unallocated [Member]
Segment Reporting Information [Line Items]
Interest income (expense), net	(24,573)	(26,307)	(73,777)	(83,805)
Other Nonoperating Income (Expense)	(2,051)	(1,697)	(1,480)	41
Loss on early extinguishment of debt				(884)
Income (loss) from continuing operations before income taxes	$ (26,624)	$ (28,004)	$ (75,257)	$ (84,648)

Segment Information (Company's information by geographic area) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 1,209,026	$ 1,096,412	$ 3,377,996	$ 3,274,413
Total, Long-lived assets	2,702,532		2,702,532		$ 3,002,194
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,024,919	932,686	2,850,179	2,783,756
Long-lived assets	2,343,365		2,343,365		2,476,792
Other Countries Member
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	184,107	$ 163,726	527,817	$ 490,657
Long-lived assets	$ 359,167		$ 359,167		$ 525,402

Fair Value Measurements (Narrative) (Details) shares in Millions, $ in Millions	Sep. 30, 2014 USD ($)	Dec. 31, 2013 USD ($) shares
Fair Value Measurements [Abstract]
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Number of shares comprising Available for Sale Securities \| shares		1.4
Interest rate swap agreement for notional amount	$ 100.0
Fair value of long term debt	$ 1,753.2	$ 1,789.0

Fair Value Measurements (Financial assets and liabilities measured at fair value on a recurring basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities		$ 8,817
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	$ 11,830	13,731
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	2,642	337
Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,667	1,944
Other long-term liabilities	14,052	14,986
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities		8,817
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	342	2,330
Level 1 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
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]
Available-for-sale Securities
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	11,488	11,401
Level 2 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	2,642	337
Level 2 [Member] \| Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,667	1,944
Other long-term liabilities	14,052	14,986
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities
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
Level 3 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
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

Derivative Financial Instruments (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)
Derivatives, Fair Value [Line Items]
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Derivative asset	$ 2.6		$ 0.3
Interest income (expense) related to the ineffectiveness associated with the fair value hedge	2.3	$ 0.5
Interest rate swap agreement for notional amount	100.0
July 2013 Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap agreement for notional amount	$ 100.0

Derivative Financial Instruments (The location and effect of the derivative instrument on the condensed consolidated statement of operations, pre-tax basis) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ (732)	$ 102	$ (2,305)	$ 497
Hedged Item Debt [Member] \| Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	(2,639)	615	4,422	(6,886)
Interest Rate Swap [Member] \| Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ 1,907	$ (513)	$ (6,727)	$ 7,383

Income Taxes (Details) $ in Millions	Dec. 31, 2013 USD ($)
Income Taxes [Abstract]
Unrecorded tax benefits	$ 29.9

Related Party Disclosure (Details) - USD ($) $ in Millions	9 Months Ended
Related Party Disclosure (Details) - USD ($) $ in Millions	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Purchase of services	$ 146.8	$ 140.7
Trade Accounts Payable	29.0		$ 14.6
Ortowski Construction [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	0.6	0.1
ORTEQ Energy Services [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	56.7	41.1
Trade Accounts Payable	4.6		7.8
Resource Transport [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	15.2	11.9
Trade Accounts Payable	4.0		0.9
Texas Specialty Sands [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	51.6	64.6
Trade Accounts Payable	16.2		2.0
ProFuel LLC [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	21.1	22.6
Trade Accounts Payable	4.2		2.6
TIMBER CREEK REAL ESTATE PARTNERS [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	1.6	0.4
Trade Accounts Payable			1.3
LINNENERGY[MEMBER]
Schedule of Equity Method Investments [Line Items]
Revenue from Related Parties	15.3	$ 15.9
Accounts Receivable, Related Parties, Current	$ 1.3		$ 2.9