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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	FORUM ENERGY TECHNOLOGIES, INC.
Entity Central Index Key	0001401257
Current Fiscal Year End Date	--12-31
Document Type	8-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Year Period Focus	FY
Amendment Flag	false
Entity Emerging Growth	false
Entity Current Reporting Status	Yes

Consolidated statements of comprehensive loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenues	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	$ 1,064,219	$ 818,620	$ 587,635
Cost of sales	231,073	192,496	201,334	182,944	194,705	151,150	151,860	132,117	807,847	629,832	487,900
Gross profit	41,875	74,541	72,669	67,287	52,995	47,559	49,255	38,979	256,372	188,788	99,735
Operating expenses
Selling, general and administrative expenses									286,980	253,713	227,008
Goodwill and intangible asset impairments									363,522	69,062	0
Transaction expenses									3,446	6,511	865
Loss (gain) on disposal of assets and other									(438)	2,097	2,638
Total operating expenses	422,995	72,764	84,721	73,030	73,709	64,839	131,779	61,056	653,510	331,383	230,511
Earnings from equity investment	94	659	350	(963)	(6,391)	3,361	2,568	1,462	140	1,000	1,824
Operating loss	(381,026)	2,436	(11,702)	(6,706)	(27,105)	(13,919)	(79,956)	(20,615)	(396,998)	(141,595)	(128,952)
Other expense (income)
Interest expense									32,532	26,808	27,410
Foreign exchange losses (gains) and other, net									(6,270)	7,268	(21,341)
Gain on contribution of subsea rentals business				(33,500)					(33,506)	0	0
Gain realized on previously held equity investment					(120,400)				0	(120,392)	0
Deferred loan costs written off									0	0	2,978
Total other expense (income), net	6,025	6,598	2,001	(21,868)	(112,155)	8,726	8,987	8,126	(7,244)	(86,316)	9,047
Loss before income taxes	(387,051)	(4,162)	(13,703)	15,162	85,050	(22,645)	(88,943)	(28,741)	(389,754)	(55,279)	(137,999)
Income tax expense (benefit)	(3,308)	(1,108)	1,646	(12,904)	35,981	(7,817)	(11,070)	(12,973)	(15,674)	4,121	(56,051)
Net loss	$ (383,743)	$ (3,054)	$ (15,349)	$ 28,066	$ 49,069	$ (14,828)	$ (77,873)	$ (15,768)	(374,080)	(59,400)	(81,948)
Less: Income attributable to noncontrolling interest									0	0	30
Net loss attributable to common stockholders									$ (374,080)	$ (59,400)	$ (81,978)
Weighted average shares outstanding
Basic (in shares)	109,082	108,856	108,714	108,423	105,947	96,275	96,170	95,860	108,771	98,689	91,226
Diluted (in shares)	109,082	108,856	108,714	110,857	108,581	96,275	96,170	95,860	108,771	98,689	91,226
Loss per share
Basic (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.26	$ 0.46	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)
Diluted (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.25	$ 0.45	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)
Other comprehensive income (loss), net of tax:
Net loss	$ (383,743)	$ (3,054)	$ (15,349)	$ 28,066	$ 49,069	$ (14,828)	$ (77,873)	$ (15,768)	$ (374,080)	$ (59,400)	$ (81,948)
Change in foreign currency translation, net of tax of $0									(24,752)	36,163	(45,722)
Gain (loss) on pension liability									1,489	107	(335)
Comprehensive loss									(397,343)	(23,130)	(128,005)
Less: comprehensive loss attributable to noncontrolling interests									0	0	(162)
Comprehensive loss attributable to common stockholders									$ (397,343)	$ (23,130)	$ (128,167)

Consolidated statements of comprehensive loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 47,241	$ 115,216
Accounts receivable—trade, net	206,055	202,914
Inventories, net	479,023	443,177
Prepaid expenses and other current assets	23,677	19,490
Costs and estimated profits in excess of billings	9,159	9,584
Accrued revenue	862	0
Total current assets	766,017	790,381
Property and equipment, net of accumulated depreciation	177,358	197,281
Deferred financing costs, net	2,071	2,900
Intangibles, net	359,048	443,064
Goodwill	469,647	755,245
Investment in unconsolidated subsidiary	44,982	0
Deferred income taxes, net	1,234	3,344
Other long-term assets	9,295	3,013
Total assets	1,829,652	2,195,228
Current liabilities
Current portion of long-term debt	1,167	1,156
Accounts payable—trade	143,186	137,684
Accrued liabilities	81,032	66,765
Deferred revenue	8,335	8,819
Billings in excess of costs and profits recognized	3,210	1,881
Total current liabilities	236,930	216,305
Long-term debt, net of current portion	517,544	506,750
Deferred income taxes, net	15,299	31,232
Other long-term liabilities	29,753	31,925
Total liabilities	799,526	786,212
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 117,411,158 and 116,343,656 shares issued	1,174	1,163
Additional paid-in capital	1,214,928	1,195,339
Treasury stock at cost, 8,200,477 and 8,190,362 shares	(134,434)	(134,293)
Retained earnings	63,688	438,774
Accumulated other comprehensive loss	(115,230)	(91,967)
Total stockholders’ equity	1,030,126	1,409,016
Total liabilities and equity	$ 1,829,652	$ 2,195,228

Consolidated balance sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	296,000,000	296,000,000
Common Stock, shares issued (in shares)	117,411,158	116,343,656
Treasury Stock, shares, at cost (in shares)	8,200,477	8,190,362

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net loss	$ (374,080)	$ (59,400)	$ (81,948)
Adjustments to reconcile net loss to net cash provided by (used in) investing activities:
Depreciation expense	33,148	34,401	35,636
Amortization of intangible assets	41,360	30,728	26,124
Goodwill and intangible asset impairments	363,522	69,062	0
Inventory write downs	36,606	14,620	25,537
Stock-based compensation expense	19,927	20,310	20,535
(Earnings) loss from unconsolidated subsidiaries, net of distributions	(140)	2,073	(1,421)
Gain on contribution of subsea rentals business	(33,506)	0	0
Gain realized on previously held equity investment	0	(120,392)	0
Deferred income taxes	(13,552)	149	(24,418)
Deferred loan costs written off	0	0	2,978
Provision for doubtful accounts	3,342	2,903	485
Other	1,086	3,886	4,389
Changes in operating assets and liabilities
Accounts receivable—trade	(4,833)	(64,844)	29,450
Inventories	(60,903)	(66,646)	57,294
Prepaid expenses and other current assets	(7,980)	12,462	1,071
Income tax receivable	0	30,929	(32,801)
Cost and estimated profits in excess of billings	1,273	(171)	1,897
Accounts payable, deferred revenue and other accrued liabilities	(4,192)	52,142	3,799
Billings in excess of costs and estimated profits earned	1,329	(2,245)	(3,865)
Net cash provided by (used in) operating activities	2,407	(40,033)	64,742
Cash flows from investing activities
Capital expenditures for property and equipment	(24,043)	(26,709)	(16,828)
Acquisition of businesses, net of cash acquired	(60,622)	(162,189)	(4,072)
Investment in unconsolidated subsidiary	0	(1,041)	0
Proceeds from sale of business, property and equipment	9,258	1,971	9,763
Net cash used in investing activities	(75,407)	(187,968)	(11,137)
Cash flows from financing activities
Borrowings of debt	221,980	107,431	0
Repayments of debt	(211,783)	0	0
Repurchases of stock	(2,777)	(4,742)	(623)
Proceeds from stock issuance	249	1,491	87,676
Payment of capital lease obligations	(1,147)	(1,187)	(92)
Deferred financing costs	0	(2,430)	(766)
Net cash provided by financing activities	6,522	100,563	86,195
Effect of exchange rate changes on cash	(1,497)	8,232	(14,627)
Net increase (decrease) in cash, cash equivalents and restricted cash	(67,975)	(119,206)	125,173
Cash, cash equivalents and restricted cash at beginning of period	115,216	234,422	109,249
Cash, cash equivalents and restricted cash at end of period	47,241	115,216	234,422
Supplemental cash flow disclosures
Cash paid for interest	30,269	25,986	26,331
Cash paid (refunded) for income taxes	5,560	(29,094)	(6,273)
Noncash investing and financing activities
Acquisition via issuance of stock	0	177,972	0
Assets contributed for equity method investment	18,070	0	0
Note receivable related to equity method investment transaction	4,067	0	0
Accrued purchases of property and equipment	1,708	1,398	797
Accrued consideration for acquisition	$ 4,650	$ 0	$ 0

Consolidated statements of changes in stockholders' equity - USD ($) $ in Thousands	Total	Common stock	Additional paid in capital	Treasury shares	Retained earnings	Accumulated other comprehensive income / (loss)	Total common stockholders’ equity	Non controlling Interest
Balance (in shares) at Dec. 31, 2015		98,605,902
Balance at Dec. 31, 2015	$ 1,257,417	$ 986	$ 891,248	$ (133,318)	$ 580,152	$ (82,048)	$ 1,257,020	$ 397
Shares held in treasury (in shares) at Dec. 31, 2015				(8,145,802)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures (in shares)		670,769
Restricted stock issuance, net of forfeitures	(1,045)	$ 6	(1,051)				(1,045)
Stock-based compensation expense	20,535		20,535				20,535
Exercised stock options (in shares)		151,335
Exercised stock options	1,712	$ 2	1,710				1,712
Issuance of performance shares (in shares)		42,443
Issuance of performance shares	(47)	$ 1	(48)				(47)
Shares issued in employee stock purchase plan (in shares)		186,679
Shares issued in employee stock purchase plan	1,978	$ 2	1,976				1,978
Equity offering and shares issued for acquisition (in shares)		4,025,000
Equity offering and shares issued for acquisition	85,078	$ 40	85,038				85,078
Treasury stock (in shares)				(29,161)
Treasury stock	(623)			$ (623)			(623)
Excess tax benefits	(1,239)		(1,239)				(1,239)
Change in pension liability	(335)					(335)	(335)
Currency translation adjustment	(45,722)					(45,854)	(45,854)	132
Net loss	(81,948)				(81,978)		(81,978)	30
Balance (in shares) at Dec. 31, 2016		103,682,128
Balance at Dec. 31, 2016	1,235,761	$ 1,037	998,169	$ (133,941)	498,174	(128,237)	1,235,202	559
Shares held in treasury (in shares) at Dec. 31, 2016				(8,174,963)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures (in shares)		429,321
Restricted stock issuance, net of forfeitures	(3,149)	$ 3	(3,152)				(3,149)
Stock-based compensation expense	20,310		20,310				20,310
Exercised stock options (in shares)		161,233
Exercised stock options	1,491	$ 2	1,489				1,491
Issuance of performance shares (in shares)		250,643
Issuance of performance shares	(1,241)	$ 3	(1,244)				(1,241)
Shares issued in employee stock purchase plan (in shares)		135,882
Shares issued in employee stock purchase plan	1,913	$ 1	1,912				1,913
Equity offering and shares issued for acquisition (in shares)		11,684,449
Equity offering and shares issued for acquisition	177,972	$ 117	177,855				177,972
Sale of non-controlling interest	(559)							(559)
Treasury stock (in shares)				(15,399)
Treasury stock	(352)			$ (352)			(352)
Change in pension liability	107					107	107
Currency translation adjustment	36,163					36,163	36,163
Net loss	(59,400)				(59,400)		(59,400)
Balance (in shares) at Dec. 31, 2017		116,343,656
Balance at Dec. 31, 2017	1,409,016	$ 1,163	1,195,339	$ (134,293)	438,774	(91,967)	1,409,016	0
Shares held in treasury (in shares) at Dec. 31, 2017				(8,190,362)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures (in shares)		702,145
Restricted stock issuance, net of forfeitures	(2,363)	$ 7	(2,370)				(2,363)
Stock-based compensation expense	$ 19,927		19,927				19,927
Exercised stock options (in shares)	35,000	35,261
Exercised stock options	$ 249		249				249
Issuance of performance shares (in shares)		156,953
Issuance of performance shares	(273)	$ 2	(275)				(273)
Shares issued in employee stock purchase plan (in shares)		164,743
Shares issued in employee stock purchase plan	1,935	$ 2	1,933				1,935
Contingent shares issued for acquisition of Cooper (in shares)		8,400
Contingent shares issued for acquisition of Cooper	125		125				125
Treasury stock (in shares)				(10,115)
Treasury stock	(141)			$ (141)			(141)
Change in pension liability	1,489					1,489	1,489
Currency translation adjustment	(24,752)					(24,752)	(24,752)
Net loss	(374,080)				(374,080)		(374,080)
Balance (in shares) at Dec. 31, 2018		117,411,158
Balance at Dec. 31, 2018	$ 1,030,126	$ 1,174	$ 1,214,928	$ (134,434)	$ 63,688	$ (115,230)	$ 1,030,126	$ 0
Shares held in treasury (in shares) at Dec. 31, 2018				(8,200,477)

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Forum Energy Technologies, Inc. (the “Company”), a Delaware corporation, is a global oilfield products company, serving the drilling, subsea, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of presentation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its wholly and majority owned subsidiaries after elimination of intercompany balances and transactions. Noncontrolling interest principally represents ownership by others of the equity in our consolidated majority owned South African subsidiary. In the first quarter of 2017, we sold our South African subsidiary.

Our investments in operating entities where we have the ability to exert significant influence, but do not control operating and financial policies, are accounted for using the equity method of accounting with our share of the net income reported in “Earnings from equity investment” in the consolidated statements of comprehensive loss and the investments reported in “Investment in unconsolidated subsidiary” in the consolidated balance sheets. The Company’s share of equity earnings are reported within operating loss as the operations of investees are integral to the operations of the Company.

Prior to acquiring the remaining membership interest of Global Tubing, LLC (“Global Tubing”) on October 2, 2017, the Company’s investment was accounted for using the equity method of accounting. Refer to Note 4 Acquisitions & Dispositions for further discussion on the acquisition of the remaining shares of Global Tubing, LLC.

On January 3, 2018, the Company contributed Forum Subsea Rentals (“FSR”) into Ashtead Technology, a competing business, in exchange for a 40% interest in the combined business. After the merger, our interest in the combined business is accounted for using the equity method of accounting. Refer to Note 4 Acquisitions & Dispositions for further discussion.

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

In the preparation of these consolidated financial statements, estimates and assumptions have been made by management including, among others, costs to complete contracts, an assessment of percentage of completion of projects, the selection of useful lives of tangible and intangible assets, fair value of reporting units used for goodwill impairment testing, fair value associated with business combinations, expected future cash flows from long lived assets to support impairment tests, provisions necessary for trade receivables, amounts of deferred taxes and income tax contingencies. Actual results could differ from these estimates.

The financial reporting of contracts depends on estimates, which are assessed continually during the term of those contracts. Recognized revenues and income are subject to revisions as the contract progresses to completion and changes in estimates are reflected in the period in which the facts that give rise to the revisions become known. Additional information that enhances and refines the estimating process that is obtained after the balance sheet date, but before issuance of the consolidated financial statements is reflected in the consolidated financial statements.

Cash and cash equivalents

Cash and cash equivalents consist of cash on deposit and high quality, short term money market instruments with an original maturity of three months or less. Cash equivalents are based on quoted market prices, a Level 1 fair value measure.

Accounts receivable-trade

Trade accounts receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus receivables do not bear interest, although a finance charge may be applied to amounts past due. We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of our customers to make required payments. Such allowances are based upon several factors including, but not limited to, credit approval practices, industry and customer historical experience as well as the current and projected financial condition of the specific customer. Accounts receivable outstanding longer than contractual terms are considered past due. We write off accounts receivable to the allowance for doubtful accounts when they become uncollectible. Any payments subsequently received on receivables previously written off are credited to bad debt expense.

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2018 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	8,119	$	485	$	(5,273	)	$	3,331
December 31, 2017	3,331		2,903		(439		)	5,795
December 31, 2018	5,795		3,342		(1,705		)	7,432

Inventories

Inventory consisting of finished goods and materials and supplies held for resale is carried at the lower of cost or net realizable value. For certain operations, cost, which includes the cost of raw materials and labor for finished goods, is determined using standard cost which approximates a first-in first-out basis. For other operations, this cost is determined on an average cost, first-in first-out or specific identification basis. Net realizable value means estimated selling price in the ordinary business, less reasonably predictable cost of completion, disposal, and transportation. We continuously evaluate inventories based on an analysis of inventory levels, historical sales experience and future sales forecasts, to determine obsolete, slow-moving and excess inventory. Adjustments to reduce such inventory to its net realizable value have been recorded.

Property and equipment

Property and equipment are stated at cost less accumulated depreciation. Capital leases of property and equipment are stated at the present value of minimum lease payments. Expenditures for property and equipment and for items which substantially increase the useful lives of existing assets are capitalized at cost and depreciated over their estimated useful life utilizing the straight-line method. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method based on the estimated useful lives of assets, generally 3 to 30 years. Property and equipment held under capital leases are amortized straight-line over the shorter of the lease term or estimated useful life of the asset. Gains or losses resulting from the disposition of assets are recognized in income with the related asset cost and accumulated depreciation removed from the balance sheet. Assets acquired in connection with business combinations are recorded at fair value.

Rental equipment consists of equipment rented to customers under short-term rental agreements. Rental equipment is recorded at cost and depreciated using the straight-line method over the estimated useful life of three to ten years.

We review long-lived assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization. For the year ended December 31, 2016, the Company recorded an impairment loss of $4.3 million related to an operation in South Africa and one of the Company’s Texas facilities. For the years ended December 31, 2018 and 2017, no significant impairments were recorded.

We record the fair value of asset retirement obligations as a liability in the period in which the associated legal obligation is incurred. The fair value of the obligation is recorded as a liability and capitalized as part of the related asset. Over time, the liability is accreted to its future value and the capitalized cost is depreciated over the estimated useful life of the related asset. The current portion of the liability is included in other accrued liabilities and non-current portion is included in other long-term liabilities on the consolidated balance sheets.

Goodwill and intangible assets

For goodwill and intangible assets with indefinite lives, an assessment for impairment is performed annually or when there is an indication an impairment may have occurred. We complete our annual impairment test for goodwill and other indefinite-lived intangibles using an assessment date of October 1. Goodwill is reviewed for impairment by comparing the carrying value of each of our seven reporting units’ net assets, including allocated goodwill, to the estimated fair value of the reporting unit. We determine the fair value of our reporting units using a discounted cash flow approach. We selected this valuation approach because we believe it, combined with our best judgment regarding underlying assumptions and estimates, provides the best estimate of fair value for each of our reporting units. Determining the fair value of a reporting unit requires the use of estimates and assumptions. Such estimates and assumptions include revenue growth rates, future operating margins, the weighted average cost of capital, a terminal growth value, and future market conditions, among others. We believe that the estimates and assumptions used in our impairment assessments are reasonable. If the reporting unit’s carrying value is greater than its calculated fair value, we recognize a goodwill impairment charge for the amount by which the carrying value of goodwill exceeds its fair value.

For the years ended December 31, 2018 and 2017, we recognized goodwill impairment charges totaling $298.8 million and $68.0 million, respectively, which are included in “Goodwill and intangible asset impairments” in the consolidated statements of comprehensive loss. See Note 7 Goodwill and Intangible Assets for further information related to these charges. There were no impairments of goodwill during the year ended December 31, 2016.

Intangible assets with definite lives are comprised of customer and distributor relationships, patents and technology, trade names, trademarks and non-compete agreements which are amortized on a straight-line basis over the life of the intangible asset, generally three to seventeen years. These assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset are estimated. Such estimates and assumptions include revenue growth rates, future operating margins, the weighted average cost of capital, a terminal growth value, and future market conditions, among others. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows.

For the years ended December 31, 2018 and 2017, we recognized intangible asset impairment charges totaling $64.7 million and $1.1 million, respectively, which are included in “Goodwill and intangible asset impairments” in the consolidated statements of comprehensive loss. See Note 7 Goodwill and Intangible Assets for further information related to these charges. There were no impairments of intangible assets during the year ended December 31, 2016.

Recognition of provisions for contingencies

In the ordinary course of business, we are subject to various claims, suits and complaints. We, in consultation with internal and external legal advisors, will provide for a contingent loss in the consolidated financial statements if, at the date of the consolidated financial statements, it is probable that a liability has been incurred and the amount can be reasonably estimated. If it is determined that the reasonable estimate of the loss is a range and that there is no best estimate within that range, a provision will be made for the lower amount of the range. Legal costs are expensed as incurred.

An assessment is made of the areas where potential claims may arise under contract warranty clauses. Where a specific risk is identified, and the potential for a claim is assessed as probable and can be reasonably estimated, an appropriate warranty provision is recorded. Warranty provisions are eliminated at the end of the warranty period except where warranty claims are still outstanding. The liability for product warranty is included in other accrued liabilities in the consolidated balance sheets.

Changes in the Company’s warranty liability were as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	5,697	$	4,031	$	(6,504	)	$	3,224
December 31, 2017	3,224		3,172		(2,776		)	3,620
December 31, 2018	3,620		1,487		(2,237		)	2,870

Revenue recognition and deferred revenue

Revenue is recognized in accordance with Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“Topic 606”) when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

Contract Identification. We account for a contract when it is approved, both parties are committed, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collection of consideration is probable.

Performance Obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer under Topic 606. The majority of our contracts with customers contain a single performance obligation to provide agreed-upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. In accordance with Topic 606, we do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We have elected to apply the practical expedient to account for shipping and handling costs associated with outbound freight after control of a product has transferred to a customer as a fulfillment cost which is included in Cost of Sales. Furthermore, since our customer payment terms are short-term in nature, we have also elected to apply the practical expedient which allows an entity to not adjust for the effects of a significant financing component if it expects that the customer’s payment period will be less than one year in duration.

Contract Value. Revenue is measured based on the amount of consideration specified in the contracts with our customers and excludes any amounts collected on behalf of third parties. We have elected the practical expedient to exclude amounts collected from customers for all sales (and other similar) taxes.

The estimation of total revenue from a customer contract is subject to elements of variable consideration. Certain customers may receive rebates or discounts which are accounted for as variable consideration. We estimate variable consideration as the most likely amount to which we expect to be entitled, and we include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue will not occur when the uncertainty associated with the variable consideration is resolved. Our estimate of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historic, current, forecast) that is reasonably available to us.

Timing of Recognition. We recognize revenue when we satisfy a performance obligation by transferring control of a product or service to a customer. Our performance obligations are satisfied at a point in time or over time as work progresses.

Revenue from goods transferred to customers at a point in time accounted for 97% of revenues for the year 2018. The majority of this revenue is product sales, which are generally recognized when items are shipped from our facilities and title passes to the customer. The amount of revenue recognized for products is adjusted for expected returns, which are estimated based on historical data.

Revenue from goods transferred to customers over time accounted for 3% of revenues for the year 2018, which is related to certain contracts in our Subsea and Production Equipment product lines. Recognition over time for these contracts is supported by our assessment of the products supplied as having no alternative use to us and by clauses in the contracts that provide us with an enforceable right to payment for performance completed to date. We use the cost-to-cost method to measure progress for these contracts because it best depicts the transfer of assets to the customer which occurs as costs are incurred on the contract. The amount of revenue recognized is calculated based on the ratio of costs incurred to-date compared to total estimated costs which requires management to calculate reasonably dependable estimates of total contract costs. Whenever revisions of estimated contract costs and contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. We recognize revenue and cost of sales each period based upon the advancement of the work-in-progress unless the stage of completion is insufficient to enable a reasonably certain forecast of profit to be established. In such cases, no profit is recognized during the period.

Accounting estimates during the course of projects may change, primarily related to our remotely operated vehicles (“ROVs”) which may take longer to manufacture. The effect of such a change, which can be upward as well as downward, is accounted for in the period of change, and the cumulative income recognized to date is adjusted to reflect the latest estimates. These revisions to estimates are accounted for on a prospective basis.

Contracts are sometimes modified to account for changes in product specifications or requirements. Most of our contract modifications are for goods and services that are not distinct from the existing contract. As such, these modifications are accounted for as if they were part of the existing contract, and therefore, the effect of the modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue on a cumulative catch-up basis. No adjustment to any one contract was material to our consolidated financial statements for the years ended December 31, 2018, 2017 and 2016.

We sell our products through a number of channels including a direct sales force, marketing representatives, and distributors. We have elected to expense sales commissions when incurred as the amortization period would be less than one year. These costs are recorded within cost of sales.

Portfolio Approach. We have elected to apply the new revenue standard to a portfolio of contracts with similar characteristics as we reasonably expect that the effects on the financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts within that portfolio.

Disaggregated Revenue. Refer to Note 16 Business Segments for disaggregated revenue by product line and geography.

Contract Balances. Contract balances are determined on a contract by contract basis. Contract assets represent revenue recognized for goods and services provided to our customers when payment is conditioned on something other than the passage of time. Similarly, when we receive consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, we record a contract liability. Such contract liabilities typically result from billings in excess of costs incurred on construction contracts and advance payments received on product sales.

Concentration of credit risk

Financial instruments which potentially subject the Company to credit risk include trade accounts receivable. Trade accounts receivable consist of uncollateralized receivables from domestic and international customers. For the years ended December 31, 2018, 2017 and 2016, no one customer accounted for 10% or more of the total revenue or 10% or more of the total accounts receivable balance at the end of the respective period.

Stock based compensation

We measure all stock based compensation awards at fair value on the date they are granted to employees and directors, and recognize compensation cost over the requisite service period for awards with only a service condition, and over a graded vesting period for awards with service and performance or market conditions.

The fair value of stock based compensation awards with market conditions is measured using a Monte Carlo Simulation model and, in accordance with Accounting Standards Codification (“ASC”) 718, is not adjusted based on actual achievement of the performance goals. The Black-Scholes option pricing model is used to measure the fair value of options. The following sections address the assumptions used related to the Black-Scholes option pricing model:

Expected life

The expected term of stock options represents the period the stock options are expected to remain outstanding and is based on the simplified method, which is the weighted average vesting term plus the original contractual term divided by two. We use the simplified method due to a lack of sufficient historical share option exercise experience upon which to estimate an expected term.

Expected volatility

Expected volatility measures the amount that a stock price has fluctuated or is expected to fluctuate during a period and is estimated based on a weighted average of the Company’s historical stock price.

Dividend yield

We have never declared or paid any cash dividends and do not plan to pay cash dividends for the foreseeable future. Therefore, a zero expected dividend yield was used in the valuation model.

Risk-free interest rate

The risk-free interest rate is based on U.S. Treasury zero-coupon issues with remaining terms similar to the expected life of the options.

Forfeitures

Forfeitures are accounted for as they occur.

Income taxes

We follow the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based upon temporary differences between the carrying amounts and tax bases of our assets and liabilities at the balance sheet date, and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period in which the change occurs. We record a valuation allowance in each reporting period when management believes that it is more likely than not that any deferred tax asset created will not be realized. See Note 9 Income Taxes for more information on the valuation allowances recognized in 2018.

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“U.S. tax reform”) which significantly changed U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to 21% starting in 2018 and creating a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of U.S. subsidiaries. As a result of the enactment of U.S. tax reform, we recognized $10.1 million of tax expense in the fourth quarter of 2017 and $15.6 million of tax benefit in 2018. Refer to Note 9 Income Taxes for further discussion.

Accounting guidance for income taxes requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. If a tax position meets the “more likely than not” recognition criteria, accounting guidance requires the tax position be measured at the largest amount of benefit greater than 50% likely of being realized upon ultimate settlement.

Non-U.S. local currency translation

We have global operations and the majority of our non-U.S. operations have designated the local currency as the functional currency. Financial statements of these non-U.S. operations where the functional currency is not the U.S. dollar are translated into U.S. dollars using the current rate method whereby assets and liabilities are translated at the balance sheet rate and income and expenses are translated into U.S. dollars at the average exchange rates in effect during the period. The resultant translation adjustments are reported as a component of accumulated other comprehensive loss within stockholders’ equity. Realized and unrealized gains and losses resulting from remeasurements of monetary assets and liabilities denominated in a currency other than the local entity’s functional currency are included in the consolidated statements of comprehensive loss as incurred.

Fair value

The carrying amounts for financial instruments classified as current assets and current liabilities approximate fair value, due to the short maturity of such instruments. The book values of other financial instruments, such as our debt related to the Credit Facility, approximates fair value because interest rates charged are similar to other financial instruments with similar terms and maturities and the rates vary in accordance with a market index.

For the financial assets and liabilities disclosed at fair value, fair value is determined as the exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The established fair value hierarchy divides fair value measurement into three broad levels:


•	Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;


•	Level 2 - inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly; and


•	Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management.

The financial assets and liabilities that are disclosed at fair value for disclosure purposes are categorized in one of the above three levels based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.

Recent accounting pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), which we adopt as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on our consolidated financial statements upon adoption.

Accounting Standards Adopted in 2018

Revenue Recognition. In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“Topic 606”). Topic 606 supersedes existing revenue recognition guidance and requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. We adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method applied to contracts that were not completed as of that date. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of Topic 606 did not have a material impact on the timing or amounts of revenue recognized in our consolidated financial statements. We did not recognize any cumulative-effect adjustment to retained earnings upon adoption as the impact was immaterial. Refer to Note 2 Summary of Significant Accounting Policies for additional information related to our revenue recognition policies and Note 3 Revenues for incremental disclosures following the adoption of Topic 606.

Modification Accounting for Stock Compensation. In May 2017, the FASB issued ASU No. 2017-09 Compensation - Stock Compensation (Topic 718) - Scope of Modification Accounting, which clarifies when to account for a change to the terms or conditions of a share based payment award as a modification. Under the new ASU, an entity should apply modification accounting unless the fair value, the vesting conditions, and the classification as equity or liability of the modified award all remain the same as the original award. We applied the update prospectively beginning January 1, 2018. The adoption of this new guidance had no material impact on our consolidated financial statements.

Clarifying the Definition of a Business. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805) - Clarifying the Definition of a Business, in an effort to clarify the definition of a business, with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. We applied the update prospectively beginning January 1, 2018. The adoption of this new guidance had no material impact on our consolidated financial statements.

Deferred Taxes on Intra-Entity Asset Transfers. In October 2016, the FASB issued ASU No. 2016-16 Income Tax (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory. Previous GAAP prohibited the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset was sold to an outside party. This new guidance eliminated this exception and requires the income tax consequences of an intra-entity transfer of an asset other than inventory to be recognized when the transfer occurs. As required, we applied this update on a modified retrospective basis resulting in a $1.0 million direct cumulative-effect adjustment to retained earnings as of January 1, 2018.

Statement of Cash Flows. In August 2016, the FASB issued ASU No. 2016-15 Cash Flow Statement (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. This new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice, including: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. We adopted this new guidance in the first quarter of 2018. The only issue currently relevant to the Company is distributions received from equity method investees, where the new guidance allows an accounting policy election between the cumulative earnings approach and the nature of the distribution approach. We will continue to use the cumulative earnings approach. Therefore, the adoption of this guidance did not have a material impact on our consolidated financial statements.

Restricted Cash Presentation. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230) - Restricted Cash, a consensus of the FASB Emerging Issues Task Force. This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We applied the update prospectively beginning January 1, 2018. The adoption of this new guidance did not have a material impact on our consolidated financial statements.

Accounting Standards Issued But Not Yet Adopted

Accounting for Implementation Costs Related to a Cloud Computing Arrangement. In August 2018, the FASB issued ASU No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This new guidance aligns the requirements for capitalizing implementation costs incurred by an entity related to a cloud computing arrangement with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Accordingly, this guidance requires an entity to capitalize certain implementation costs incurred and then amortize them over the term of the cloud hosting arrangement. Furthermore, this guidance also requires an entity to present the expense, cash flows, and capitalized implementation costs in the same financial statement line items as the associated hosting service. This new guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and early adoption is permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the impact of adopting this guidance.

Fair Value Measurement Disclosure. In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement. This new guidance eliminated, modified and added certain disclosure requirements related to fair value measurements. The amended disclosure requirements are effective for all entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the impact of adopting this guidance. However, we currently expect that the adoption of this guidance will not have a material impact on our consolidated financial statements.

Stranded Tax Effects from the Tax Cuts and Jobs Act. In February 2018, the FASB issued ASU No. 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. U.S. GAAP requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates, with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income (referred to as “stranded tax effects”). The amendments in this ASU allow a specific exception for reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. In addition, the amendments in this update also require certain disclosures about stranded tax effects. The standard will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. We currently expect that the adoption of this guidance will not have a material impact on our consolidated financial statements.

Financial Instruments—Credit Losses. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses (Topic 326), which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. It requires an entity to estimate credit losses expected over the life of an exposure based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are currently evaluating the impact of adopting this guidance.

Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases. Under this new guidance, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases (financing and operating). The classification as either a financing or operating lease will determine whether lease expense is recognized on an effective interest method basis or on a straight-line basis over the term of the lease, respectively.

To prepare for the adoption of this new guidance, our implementation team has:


•	reviewed existing lease contracts and identified the relevant accounting impacts of the new standard;


•	provided internal training and awareness related to the new lease standard to key stakeholders throughout our organization;


•	implemented new processes and controls in anticipation of adopting the new guidance; and


•	implemented a new cloud based lease software management system.

We will adopt this new standard during the first quarter of 2019 using the modified retrospective transition method. We will take advantage of various practical expedients provided by the new standard, including:


•	use of the transition package of practical expedients which, among other things, allows us to carry forward the historical lease classification for existing leases;


•	making an accounting policy election that will keep leases with an initial term of 12 months or less off of the balance sheet; and


•	electing to not separate non-lease components from lease components for all classes of underlying lease assets

Based on our current lease portfolio, we anticipate the new guidance will have a material impact on our consolidated balance sheets as it will require us to recognize additional assets and liabilities for our operating leases. Our operating leases are primarily related to real estate. While we are continuing to assess all potential impacts of the standard, we expect that total right of use assets and lease liabilities in our consolidated balance sheets to increase by a range of $60 million - $70 million upon adoption. We do not believe the new standard will materially affect our consolidated net earnings. These estimates are based on our current lease portfolio as of December 31, 2018, and the actual amounts may be different as a result of changes in our overall lease portfolio. While substantially complete, we are still in the process of finalizing our evaluation of the new standard and the overall impact of the new guidance on our consolidated financial statements and related disclosures.

Revenues

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenues

Adoption of ASC Topic 606, “Revenue from Contracts with Customers”

On January 1, 2018, we adopted Topic 606 using the modified retrospective transition method applied to contracts that were not completed as of that date. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with historic revenue recognition guidance.

The adoption of Topic 606 did not have a material impact on our consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the year ended December 31, 2018. Furthermore, we expect the impact of the adoption of the new standard to be immaterial to our revenue and gross profit on an ongoing basis.

The following table summarizes the impacts of adopting Topic 606 on our consolidated financial statements as of January 1, 2018:



	As Reported		Adjustments due to			As Adjusted
(in thousands, unaudited)	Dec. 31, 2017		ASC 606			Jan. 1, 2018
Accounts receivable—trade, net	$	202,914	$	(3,235	)	$	199,679
Accrued revenue	—		3,235			3,235

As of December 31, 2018, there were no contracts in progress that were impacted by the change in timing of revenue recognition required by the adoption of ASC 606. As such, there was no impact to the consolidated statements of comprehensive loss for the year ended December 31, 2018. The following table shows the change in the presentation of our consolidated balance sheets as of December 31, 2018:



	December 31, 2018
(in thousands, unaudited)	As Reported		Amount Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Accounts receivable—trade, net	$	206,055	$	206,917	$	(862	)
Accrued revenue	862		—		862

Disaggregated Revenue

Refer to Note 16 Business Segments for disaggregated revenue by product line and geography.

Contract Balances

The following table reflects the changes in our contract assets and contract liabilities balances for the year ended December 31, 2018:



	December 31, 2018		January 1, 2018		Increase / (Decrease)
	December 31, 2018		January 1, 2018		$			%
Accrued revenue	$	862	$	3,235
Costs and estimated profits in excess of billings	9,159		9,584
Contract assets	$	10,021	$	12,819	$	(2,798	)	(22	)%

Deferred revenue	$	8,335	$	8,819
Billings in excess of costs and profits recognized	3,210		1,881
Contract liabilities	$	11,545	$	10,700	$	845		8	%

During the year ended December 31, 2018, our contract assets decreased by $2.8 million primarily due to the timing of billings in our Production Equipment product line and our contract liabilities increased by $0.8 million primarily due to a down payment received for a customer order in our subsea product line.

During the year ended December 31, 2018, we recognized revenue of $7.7 million that was included in the contract liability balance at the beginning of the period.

During the year ended December 31, 2018, our Subsea Technologies product line received an order to supply a submarine rescue vehicle and related equipment which we expect to deliver in 2020. We use the cost-to-cost method to measure progress on this contract to recognize revenue over time. Other than this contract, all of our other contracts are less than one year in duration. As such, we have elected to apply the practical expedient which allows an entity to exclude disclosures about its remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

Acquisitions & Dispositions

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions & Dispositions

2018 Acquisition of Houston Global Heat Transfer LLC

On October 5, 2018, we acquired 100% of the stock of Houston Global Heat Transfer LLC (“GHT”) for total aggregate consideration of $57.3 million, net of cash acquired. The aggregate consideration includes the estimated fair value of certain contingent cash payments due to the former owners of GHT if certain conditions are met in 2019 and 2020. Based in Houston, Texas, GHT designs, engineers, and manufactures premium industrial heat exchanger and cooling systems used primarily on hydraulic fracturing equipment. GHT’s flagship product, the Jumbotron, is an innovative cube-style radiator that substantially reduces customer maintenance expense. This acquisition is included in the Completions segment.

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Current assets, net of cash acquired	$	18,655
Non-current assets	238
Property and equipment	2,408
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,559
Current liabilities	(12,633		)
Long-term liabilities	$	(2,355	)
Net assets acquired, net of cash acquired	$	57,272

As the value of certain assets and liabilities are preliminary in nature, they are subject to adjustment as additional information is obtained about the facts and circumstances that existed at the acquisition date, including any post-closing purchase price adjustments. When the valuation is final, any changes to the preliminary valuation of acquired assets and liabilities could result in adjustments to identified intangibles and goodwill.

Revenue and net income for this acquisition were not significant for the year ended December 31, 2018. Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements.

2018 Acquisition of ESP Completion Technologies LLC

On July 2, 2018, we acquired certain assets of ESP Completion Technologies LLC ("ESPCT"), a subsidiary of C&J Energy Services, for cash consideration of $8.0 million. ESPCT consists of a portfolio of early stage technologies that maximize the run life of artificial lift systems, primarily electric submersible pumps. This acquisition is included in the Drilling & Downhole segment. The fair values of the assets acquired and liabilities assumed as well as the pro forma results of operations for this acquisition have not been presented because they are not material to the consolidated financial statements.

2018 Disposition of Forum Subsea Rentals

On January 3, 2018, we contributed our subsea rentals business to Ashtead Technology to create a leading independent provider of subsea survey and equipment rental services. In exchange, we received a 40% interest in the combined business (“Ashtead”), a cash payment of £2.7 million British Pounds and a note receivable from Ashtead of £3.0 million British Pounds. Our 40% interest in Ashtead is accounted for as an equity method investment and reported as “Investment in unconsolidated subsidiary” in our consolidated balance sheets. In the first quarter of 2018, we recognized a gain of $33.5 million as a result of the deconsolidation of our Forum Subsea Rentals business, which is classified as “Gain on contribution of subsea rentals business” in the consolidated statements of comprehensive loss. This gain is equal to the sum of the consideration received, which includes the fair value of our 40% interest in Ashtead, £2.7 million British Pounds in cash, and the £3.0 million British Pounds note receivable from Ashtead, less the $18.1 million carrying value of the Forum subsea rentals assets at the time of closing. The fair value of our 40% interest in Ashtead was determined based on the present value of estimated future cash flows of the combined entity as of January 3, 2018. The difference between the fair value of our 40% interest in Ashtead of $43.8 million and the book value of the underlying net assets resulted in a basis difference, which was allocated to fixed assets, intangible assets and goodwill based on their respective fair values as of January 3, 2018. The basis difference allocated to fixed assets and intangible assets will be amortized through equity earnings (loss) over the estimated life of the respective assets.

Pro forma results of operations for this transaction have not been presented because the effects were not material to the consolidated financial statements.

2017 Acquisitions of Global Tubing

On October 2, 2017, we acquired all of the remaining ownership interests of Global Tubing, LLC (“Global Tubing”) from our joint venture partner and management for total consideration of approximately $290.3 million. We originally invested in Global Tubing with a joint venture partner in 2013. Prior to acquiring the remaining ownership interest in Global Tubing, we reported this investment using the equity method of accounting. The financial results for Global Tubing are reported in the Completions segment. Located in Dayton, Texas, Global Tubing provides coiled tubing, coiled line pipe and related services to customers worldwide. We believe that this strategic acquisition will further enhance our focus and strategy of expansion in the North American completions market.

The acquisition of Global Tubing contributed revenues of $35.5 million and net income of $3.8 million to our consolidated statement of comprehensive loss from the time of acquisition to December 31, 2017. The following unaudited pro forma summary presents consolidated information as if the Global Tubing acquisition had occurred on January 1, 2016:



	Pro Forma Year Ended December 31,
	2017			2016
Net sales	$	901,856		$	659,108
Net loss attributable to common stockholders	(125,204		)	(101,173		)

The pro forma consolidated results of operations amounts have been calculated after applying our accounting policies, and include the following adjustments:


•	An increase in depreciation and amortization expense resulting from the fair value adjustments of property, plant and equipment and intangible assets recognized as part of the Global Tubing Acquisition;


•	Removal of earnings from equity investment;


•	In 2017, we incurred $4.5 million of acquisition-related costs in connection with this transaction. These expenses are included in transaction expenses on our consolidated statements of comprehensive income (loss) for the year ended December 31, 2017 and are reflected in pro forma earnings for the year ended December 31, 2016 in the table above;


•	An increase in stock based compensation costs as a result of the full vesting of pre-acquisition management incentive units and granting of additional restricted stock units to Global Tubing management;


•	Adjusted interest expense to remove the historical interest expense from Global Tubing’s historical debt and include interest expense from the amount borrowed on our Credit Facility to finance the acquisition; and


•	As a result of acquiring the remaining equity interest of Global Tubing, the Company’s previously held equity interest was remeasured to fair value, resulting in a gain of approximately $120.4 million. This gain has been recognized in the consolidated statement of comprehensive loss for the year ended December 31, 2017 and is excluded from the pro forma results above; and


•	Estimated tax benefits of approximately $45 million and $12 million in 2017 and 2016, respectively, to tax-effect the aforementioned pro forma adjustments using an estimated U.S. federal income tax rate of 35%.

The pro forma amounts do not include any potential synergies, cost savings or other expected benefits of the acquisition, and are presented for illustrative purposes only and are not necessarily indicative of results that would have been achieved if the acquisition had occurred as of January 1, 2016 or of future operating performance.

The following table summarizes the consideration transferred to acquire the remaining ownership interests of Global Tubing (in thousands other than stock price and shares issued):



	Purchase Consideration
Forum Energy Technologies' closing stock price on October 2, 2017	$	15.10
Multiplied by number of shares issued for acquisition	11,488,208
Common shares	$	173,472
Cash	31,764
Repayment of Global Tubing debt at acquisition	85,084
Total Consideration paid for the acquisition	$	290,320

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Accounts Receivable	$	28,044
Inventory	40,005
Other current assets	3,141
Property and equipment	51,585
Intangible assets (primarily developed technologies and customer relationships)	228,190
Tax-deductible goodwill	69,423
Non-tax deductible goodwill	64,491
Current liabilities	(16,005		)
Long term liabilities	$	(54	)
Total net assets	$	468,820
Fair value of equity method investment previously held	(178,500		)
Net assets acquired	$	290,320

The goodwill is attributable to the workforce of the acquired business and synergies expected to arise following the acquisition of the remaining ownership interests of Global Tubing. The goodwill associated with the previously owned equity interests is not deductible for tax purposes. All of the goodwill was assigned to the Company’s Completions segment.

2017 Acquisition of Multilift

On July 3, 2017, the Company acquired Multilift Welltec, LLC and Multilift Wellbore Technology Limited (collectively, “Multilift”) for approximately $39.2 million in cash consideration. These acquisitions are included in the Drilling & Downhole segment. Based in Houston, Texas, Multilift manufactures the patented SandGuard^TM and the Cyclone^TM completion tools. This acquisition increases our product offering related to artificial lift for our completions customers. Through this acquisition, we intend to utilize our distribution system to increase Multilift’s sales with additional customers and through geographic expansion. Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements. The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Current assets, net of cash acquired	$	3,763
Property and equipment	96
Intangible assets (primarily developed technologies and customer relationships)	17,090
Tax-deductible goodwill	16,472
Non-tax deductible goodwill	3,099
Current liabilities	(1,329		)
Net assets acquired	$	39,191

2017 Acquisition of Cooper Valves

On January 9, 2017, the Company acquired substantially all of the assets of Cooper Valves, LLC as well as 100% of the general partnership interests of Innovative Valve Components (collectively, “Cooper”) for total aggregate consideration of $14.0 million, after settlement of working capital adjustments. The aggregate consideration includes the issuance of stock valued at $4.5 million and certain contingent stock issuances. These acquisitions are included in the Production segment. The acquired Cooper brands include the Accuseal^® metal seated ball valves engineered to meet Class VI shut off standards for use in severe service applications, as well as a full line of Cooper Alloy^TM cast and forged gate, globe, and check valves. Innovative Valve Components, in partnership with Cooper Valves, commercialized critical service valves and components for the power generation, mining and oil and natural gas industries. The fair values of the assets acquired and liabilities assumed and pro forma results of operations have not been presented because they are not material to the consolidated financial statements.

Inventories

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventories

The Company’s significant components of inventory at December 31, 2018 and 2017 were as follows (in thousands):



	December 31, 2018			December 31, 2017
Raw materials and parts	$	212,526		$	160,093
Work in process	39,494			51,941
Finished goods	302,590			305,461
Gross inventories	554,610			517,495
Inventory reserve	(75,587		)	(74,318		)
Inventories	$	479,023		$	443,177

The change in the amounts of the inventory reserve during the three year period ended December 31, 2018 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	77,888	$	25,537	$	(35,073	)	$	68,352
December 31, 2017	68,352		14,620		(8,654		)	$	74,318
December 31, 2018	74,318		36,606		(35,337		)	$	75,587

Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (in thousands):



	Estimated useful lives	December 31,
	Estimated useful lives	2018			2017
Land		$	9,755		$	12,408
Buildings and leasehold improvements	5-30	103,761			90,909
Computer equipment	3-5	54,721			42,074
Machinery & equipment	5-10	162,110			169,203
Furniture & fixtures	3-10	6,631			6,338
Vehicles	3-5	6,160			8,048
Construction in progress		9,155			14,589
		352,293			343,569
Less: accumulated depreciation		(180,717		)	(160,787		)
Property & equipment, net		171,576			182,782

Rental equipment	3-10	9,535			70,679
Less: accumulated depreciation		(3,753		)	(56,180		)
Rental equipment, net		5,782			14,499

Total property & equipment, net		$	177,358		$	197,281

Depreciation expense was $33.1 million, $34.4 million and $35.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):



	Drilling & Downhole			Completions			Production			Total
Goodwill balance at December 31, 2016	$	529,901		$	105,198		$	17,644		$	652,743
Acquisitions, net of dispositions	19,571			133,914			1,595			155,080
Impairment	(68,004		)	—			—			(68,004		)
Impact of non-U.S. local currency translation	13,515			1,704			207			15,426
Goodwill balance at December 31, 2017	494,983			240,816			19,446			755,245
Acquisitions, net of dispositions	1,753			20,559			—			22,312
Impairment	(298,789		)	—			—			(298,789		)
Impact of non-U.S. local currency translation	(6,796		)	(2,095		)	(230		)	$	(9,121	)
Goodwill balance at December 31, 2018	$	191,151		$	259,280		$	19,216		$	469,647

We perform our annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. Relevant events and circumstances which could have a negative impact on goodwill include: macroeconomic conditions; industry and market conditions, such as commodity prices; operating cost factors; overall financial performance; the impact of dispositions and acquisitions; and other entity-specific events. Declines in commodity prices or a sustained decrease in valuation of the Company’s common stock could indicate a reduction in the estimate of reporting unit fair value which, in turn, could lead to an impairment of reporting unit goodwill.

The fair values used in the impairment analysis were determined using the net present value of the expected future cash flows for each reporting unit. We determine the fair value of each reporting unit using a discounted cash flow analysis, which requires significant assumptions and estimates about the future operations of each reporting unit. The assumptions about future cash flows and growth rates are based on our current budget, strategic plans and management’s estimates for future activity levels. Forecasted cash flows in future periods were estimated using a terminal value calculation, which considered long-term earnings growth rates. The discount rate we used could change substantially in future periods if the cost of debt or equity were to significantly increase or decrease, or if we were to choose different comparable companies in determining the appropriate discount rate for our reporting units.

As of October 1, 2018, our annual testing date, we completed the annual evaluation of goodwill related to all of our reporting units. We determined that the carrying value of our Drilling reporting unit exceeded its estimated fair value. As a result, we recorded a non-cash impairment charge of $245.4 million to write-off the goodwill in our Drilling reporting unit. Additionally, during the fourth quarter 2018, there was a significant decline in oil prices, lowered industry expectations for U.S. drilling and completions activities and a substantial decline in the quoted market prices of our common stock, which led us to evaluate all of our reporting units for a triggering event as of December 31, 2018. Upon evaluation, we considered these developments to be a triggering event for our Downhole reporting unit that required us to update our goodwill impairment evaluation as of December 31, 2018 based on our current forecast and expectations for market conditions. As a result, we determined that the carrying value of our Downhole reporting unit exceeded its estimated fair value and we recorded a non-cash impairment charge of $53.4 million to write-off goodwill in our Downhole reporting unit. These charges are included in “Goodwill and intangible asset impairments” in the consolidated statements of comprehensive loss. Following these impairment charges, there is zero and $191.1 million of remaining goodwill for our Drilling and Downhole reporting units, respectively. In completing our evaluation, we concluded that the remaining reporting units with a goodwill balance were not impaired.

In the second quarter of 2017, there was a decline in oil prices and a developing consensus view that production from lower cost oil basins would be sufficient to meet anticipated demand for a longer period, delaying the need for production from higher cost basins. With this indication of further delays in the recovery of the offshore market, we performed an impairment test and determined that the carrying value of the goodwill in our Subsea reporting unit was impaired. We recorded an impairment charge of $68.0 million in the second quarter of 2017. Following the impairment charge, there is no remaining goodwill for our Subsea reporting unit.

There was no goodwill impairment recorded during the year ended December 31, 2016.

Accumulated impairment losses on goodwill were $535.6 million, $236.8 million and $168.8 million as of December 31, 2018, 2017, and 2016, respectively.

There are significant inherent uncertainties and management judgment in estimating the fair value of each reporting unit. While we believe we have made reasonable estimates and assumptions to estimate the fair value of our reporting units, it is possible that a material change could occur. If actual results are not consistent with our current estimates and assumptions, or if changes in macroeconomic conditions outside the control of management change such that it results in a significant negative impact to our estimated fair values, the fair value of our reporting units may decrease below their net carrying value, which could result in a material impairment of our goodwill. Based on our goodwill impairment evaluations in the fourth quarter of 2018, the estimated fair values of our Downhole, Stimulation & Intervention and Coiled Tubing reporting units were each less than 30% above their respective carrying values.

Intangible assets

At December 31, 2018 and 2017, intangible assets consisted of the following, respectively (in thousands):



	December 31, 2018
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	337,546	$	(110,228	)	$	227,318	4 - 15
Patents and technology	104,394		(17,148		)	87,246		5 - 17
Non-compete agreements	6,245		(5,600		)	645		3 - 6
Trade names	47,493		(18,107		)	29,386		10 - 15
Distributor relationships	22,160		(17,602		)	4,558		8 - 15
Trademark	10,319		(424		)	9,895		15 - Indefinite
Intangible Assets Total	$	528,157	$	(169,109	)	$	359,048



	December 31, 2017
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	428,544	$	(138,566	)	$	289,978	4 - 15
Patents and technology	110,910		(16,733		)	94,177		5 - 17
Non-compete agreements	6,625		(6,041		)	584		3 - 6
Trade names	64,359		(22,090		)	42,269		10 - 15
Distributor relationships	22,160		(16,338		)	5,822		8 - 15
Trademark	10,319		(85		)	10,234		15 - Indefinite
Intangible Assets Total	$	642,917	$	(199,853	)	$	443,064

Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In the fourth quarter of 2018, due to the impairment indicators discussed above, we determined that certain intangible assets in our Downhole reporting unit were impaired. As a result, we recognized $50.2 million of impairment losses on these intangible assets (primarily customer relationships and trade names) in the fourth quarter of 2018. In the second quarter of 2018, we made the decision to exit specific products within the Subsea and Downhole product lines. As a result, we recognized $14.5 million of impairment losses on certain intangible assets (primarily customer relationships). In 2017, impairment losses totaling $1.1 million were recorded on certain intangible assets within the Subsea and Downhole reporting units related to management’s decision to abandon specific product lines. There were no intangible asset impairments recorded during the year ended December 31, 2016. Impairment charges are included in “Goodwill and intangible asset impairments” in the consolidated statements of comprehensive loss.

Amortization expense was $41.4 million, $30.7 million and $26.1 million for the years ended December 31, 2018, 2017 and 2016, respectively. The estimated future amortization expense for the next five years is as follows (in thousands):



Year ending December 31,	Amount
2019	$	34,591
2020	33,864
2021	32,974
2022	31,196
2023	28,994

Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

Notes payable and lines of credit as of December 31, 2018 and 2017 consisted of the following (in thousands):



	December 31, 2018			December 31, 2017
6.25% Senior notes due October 2021	$	400,000		$	400,000
Unamortized debt premium	1,176			1,583
Debt issuance cost	(3,121		)	(4,222		)
Senior secured revolving credit facility	119,000			108,446
Other debt	1,656			2,099
Total debt	518,711			507,906
Less: current maturities	(1,167		)	(1,156		)
Long-term debt	$	517,544		$	506,750

Senior Notes Due 2021

In October 2013, we issued $300.0 million of 6.25% senior unsecured notes due 2021 at par, and in November 2013, we issued an additional $100.0 million aggregate principal amount of the notes at a price of 103.25% of par, plus accrued interest from October 2, 2013 (the “Senior Notes”). The Senior Notes bear interest at a rate of 6.25% per annum, payable on April 1 and October 1 of each year, and mature on October 1, 2021. Net proceeds from the issuance of approximately $394.0 million, after deducting initial purchasers’ discounts and offering expenses and excluding accrued interest paid by the purchasers, were used for the repayment of the then-outstanding term loan balance and a portion of the Credit Facility balance.

The terms of the Senior Notes are governed by the indenture, dated October 2, 2013 (the “Indenture”), by and among us, the guarantors named therein and Wells Fargo Bank, National Association, as trustee. The Senior Notes are senior unsecured obligations, and are guaranteed on a senior unsecured basis by our subsidiaries that guarantee the Credit Facility and rank junior to, among other indebtedness, the Credit Facility to the extent of the value of the collateral securing the Credit Facility. The Senior Notes contain customary covenants including some limitations and restrictions on our ability to pay dividends on, purchase or redeem our common stock; redeem or prepay our subordinated debt; make certain investments; incur or guarantee additional indebtedness or issue certain types of equity securities; create certain liens, sell assets, including equity interests in our restricted subsidiaries; restrict dividends or other payments of our restricted subsidiaries; consolidate, merge or transfer all or substantially all of our assets; engage in transactions with affiliates; and create unrestricted subsidiaries. Many of these restrictions will terminate if the Senior Notes become rated investment grade. The Indenture also contains customary events of default, including nonpayment, breach of covenants in the Indenture, payment defaults or acceleration of other indebtedness, failure to pay certain judgments and certain events of bankruptcy and insolvency. We are required to offer to repurchase the Senior Notes in connection with specified change in control events or with excess proceeds of asset sales not applied for permitted purposes.

We may redeem the Senior Notes due 2021:


•	at a redemption price of 101.563% of their principal amount plus accrued and unpaid interest and additional interest, if any, for the twelve-month period beginning October 1, 2018; and then


•	at a redemption price of 100.000% of their principal amount plus accrued interest and unpaid interest and additional interest, if any, beginning on October 1, 2019.

Credit Facility

On October 30, 2017, we amended and restated our Credit Facility to, among other things, increase revolving credit commitments from $140.0 million to $300.0 million (with a sublimit of up to $25.0 million available for the issuance of letters of credit for the account of the Company and certain of our domestic subsidiaries) (the “U.S. Line”), of which up to $30.0 million is available to certain of our Canadian subsidiaries for loans in U.S. or Canadian dollars (with a sublimit of up to $3.0 million available for the issuance of letters of credit for the account of our Canadian subsidiaries) (the “Canadian Line”). Lender commitments under the Credit Facility, subject to certain limitations, may be increased by an additional $100.0 million. The Credit Facility matures in July 2021, but if our outstanding Notes due October 2021 are refinanced or replaced with indebtedness maturing in or after February 2023, the final maturity of the Credit Facility will automatically extend to October 2022.

Availability under the Credit Facility is subject to a borrowing base calculated by reference to eligible accounts receivable in the U.S., Canada and certain other jurisdictions (subject to a cap) and eligible inventory in the U.S. and Canada. Our borrowing capacity under the Credit Facility could be reduced or eliminated, depending on future fluctuations in our balances of receivables and inventory. As of December 31, 2018, our total borrowing base was $299.4 million, of which $119.0 million was drawn and $13.1 million was used for security of outstanding letters of credit, resulting in remaining availability of $167.3 million.

Borrowings under the U.S. Line bear interest at a rate equal to, at our option, either (a) the LIBOR rate or (b) a base rate determined by reference to the highest of (i) the rate of interest per annum determined from time to time by Wells Fargo as its prime rate in effect at its principal office in San Francisco, (ii) the federal funds rate plus 0.50% per annum and (iii) the one-month adjusted LIBOR plus 1.00% per annum, in each case plus an applicable margin. Borrowings under the Canadian Line bear interest at a rate equal to, at Forum Canada’s option, either (a) the CDOR rate or (b) a base rate determined by reference to the highest of (i) the prime rate for Canadian dollar commercial loans made in Canada as reported from time to time by Thomson Reuters and (ii) the CDOR rate plus 1.00%, in each case plus an applicable margin. The applicable margin for LIBOR and CDOR loans will initially range from 1.75% to 2.25%, depending upon average excess availability under the 2017 Credit Facility. After the first quarter ending on or after March 31, 2018 in which our total net leverage ratio is less than or equal to 4.00:1.00, the applicable margin for LIBOR and CDOR loans will range from 1.50% to 2.00%, depending upon average excess availability under the Credit Facility. The weighted average interest rate under the Credit Facility was approximately 4.08% during the year ended December 31, 2018.

The Credit Facility also provides for a commitment fee in the amount of (a) 0.375% per annum on the unused portion of commitments if average usage of the Credit Facility is greater than 50% and (b) 0.500% per annum on the unused portion of commitments if average usage of the 2017 Credit Facility is less than or equal to 50%. After the first quarter ending on or after March 31, 2018 in which our total net leverage ratio is less than or equal to 4.00:1.00, the commitment fees will range from 0.25% to 0.375%, depending upon average usage of the Credit Facility.

If excess availability under the Credit Facility falls below the greater of 10.0% of the borrowing base and $20.0 million, we will be required to maintain a fixed charge coverage ratio of at least 1.00:1.00 as of the end of each fiscal quarter until excess availability under the Credit Facility exceeds such thresholds for at least 60 consecutive days.

Other debt

Other debt consists primarily of various capital leases of equipment.

Deferred loan costs

The Company has incurred loan costs that have been capitalized and are amortized to interest expense over the term of the Senior Notes and the Credit Facility. As a result, approximately $1.9 million, $1.7 million and $1.9 million were amortized to interest expense for the years ended December 31, 2018, 2017 and 2016, respectively. On February 25, 2016 and December 12, 2016, the Company amended its Credit Facility which reduced lender commitments from $600.0 million to $140.0 million. In connection with these amendments, the Company wrote off $3.0 million of deferred financing costs related to the Credit Facility in 2016. In October 2017, the Company further amended and restated its existing Credit Facility which increased lender commitments to $300.0 million and recorded an additional $2.4 million to deferred financing costs.

Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands):



2019	$	1,167
2020	489
2021	519,000
2022	—
2023	—
Thereafter	—
Total future payment	$	520,656
Add: Unamortized debt premium	1,176
Less: Debt issuance cost	(3,121		)
Total debt	$	518,711

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

The components of loss before income taxes for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):



	2018			2017			2016
U.S.	$	(285,141	)	$	(3,015	)	$	(155,058	)
Non-U.S.	(104,613		)	(52,264		)	17,059
Loss before income taxes	$	(389,754	)	$	(55,279	)	$	(137,999	)

The components of income tax expense (benefit) for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):



	2018			2017			2016
Current
U.S. Federal and state	$	(6,932	)	$	(1,426	)	$	(38,589	)
Non-U.S.	4,810			5,398			6,956
Total current	(2,122		)	3,972			(31,633		)
Deferred
U.S. Federal and state	(21,467		)	6,415			(18,290		)
Non-U.S.	7,915			(6,266		)	(6,128		)
Total deferred	(13,552		)	149			(24,418		)
Provision (benefit) for income taxes	$	(15,674	)	$	4,121		$	(56,051	)

The reconciliation between the actual provision for income taxes from continuing operations and that computed by applying the U.S. statutory rate to income before income taxes and noncontrolling interests are outlined below (in thousands):



	2018					2017					2016
Income tax expense at the statutory rate	$	(81,849	)	(21.0	)%	$	(19,348	)	(35.0	)%	$	(48,300	)	(35.0	)%
State taxes, net of federal tax benefit	(2,564		)	(0.7	)%	(294		)	(0.5	)%	(1,425		)	(1.0	)%
Non-U.S. operations	(10,166		)	(2.6	)%	6,337			11.5	%	(5,791		)	(4.2	)%
Domestic incentives	(286		)	(0.1	)%	(254		)	(0.5	)%	(170		)	(0.1	)%
Prior year federal, non-U.S. and state tax	(2,880		)	(0.7	)%	(1,283		)	(2.3	)%	(777		)	(0.6	)%
Nondeductible expenses	502			0.1	%	644			1.2	%	345			0.3	%
Goodwill impairment	46,051			11.8	%	14,731			26.6	%	—			—	%
Global Tubing acquisition	—			—	%	(9,160		)	(16.6	)%	—			—	%
U.S. tax reform	(15,604		)	(4.0	)%	10,138			18.3	%	—			—	%
Valuation allowance	50,005			12.8	%	4,523			8.2	%	—			—	%
Other	1,117			0.4	%	(1,913		)	(3.4	)%	67			—	%
Income tax expense (benefit)	$	(15,674	)	(4.0	)%	$	4,121		7.5	%	$	(56,051	)	(40.6	)%

Our effective tax rate was (4.0)%, 7.5%, and (40.6)% for the years ended December 31, 2018, 2017 and 2016, respectively. For the year ended December 31, 2018, we recognized the following significant items impacting our effective tax rate:


–	$15.6 million of tax benefit associated with U.S. tax reform, as described below,


–	$46.1 million of tax expense associated with the impairment of non-tax deductible goodwill for our Drilling and Downhole reporting units, and


–	$50.0 million of tax expense consisting of a full valuation allowance of $18.4 million against our deferred tax assets in the U.K., Germany and Singapore and a partial valuation allowance of $31.6 million against our deferred tax assets in the U.S. as further described below under the primary components of deferred taxes.

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017, a comprehensive U.S. tax reform package that, effective January 1, 2018, among other things, lowered the corporate income tax rate from 35% to 21% and moved the country towards a territorial tax system with a one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries. The effects of U.S. tax reform on us include two major categories: (i) recognition of liabilities for taxes on mandatory deemed repatriation and (ii) re-measurement of deferred taxes. In 2017, we recorded provisional amounts as an estimate of federal and state tax related to the effects of U.S. tax reform including the recognition of liabilities for taxes on mandatory deemed repatriation of non-U.S. earnings of $27.7 million and a $17.6 million tax benefit for the re-measurement of deferred taxes based on the new 21% U.S. corporate tax rate, resulting in a net $10.1 million provisional net tax charge for the year.

During 2018, we completed our analysis of the impact of U.S. tax reform based on further guidance provided on the new tax law by the U.S. Treasury Department and Internal Revenue Service. We finalized our accounting for the effects of U.S. tax reform during 2018 based on the additional guidance issued and recognized an income tax benefit of $15.6 million resulting in an overall net tax benefit related to U.S. tax reform of $5.5 million.

The primary components of deferred taxes include (in thousands):



	2018			2017
Deferred tax assets
Reserves and accruals	$	7,259		$	5,932
Inventory	18,694			20,836
Stock awards	5,637			6,235
Net operating loss and other tax carryforwards	66,098			31,164
Other	549			1,419
Gross deferred tax assets	98,237			65,586
Valuation allowance	(54,441		)	(4,523		)
Total deferred tax assets	43,796			61,063
Deferred tax liabilities
Property and equipment	(9,565		)	(12,172		)
Goodwill and intangible assets	(42,502		)	(76,454		)
Investment in unconsolidated subsidiary	(5,402		)	—
Prepaid expenses and other	(392		)	(325		)
Total deferred tax liabilities	(57,861		)	(88,951		)
Net deferred tax liabilities	$	(14,065	)	$	(27,888	)

Goodwill from certain acquisitions is tax deductible due to the acquisition structure as an asset purchase or due to tax elections made by the Company and the respective sellers at the time of acquisition.

At December 31, 2018, we had $193.9 million of U.S. net operating loss carryforwards and $6.2 million of state net operating losses. Of these losses, $151.7 million will expire no later than 2037 if they are not utilized prior to that date. The remaining $48.4 million will not expire. We also had $113.5 million of non-U.S. net operating loss carryforwards with indefinite expiration dates. The ultimate realization of income tax benefit for these net operating loss carryforwards depends on our ability to generate sufficient taxable income in the respective taxing jurisdictions. Where we have unrecognized tax benefits in jurisdictions with existing net operating losses, we utilize the unrecognized tax benefits as a source of income to offset such losses. We no longer anticipate being able to fully utilize all of the losses prior to their expiration in the following jurisdictions: the U.S, the U.K, Germany and Singapore. See the discussion below regarding the valuation allowances recognized related to the deferred tax assets in these jurisdictions.

We have deferred tax assets related to net operating loss and other tax carryforwards in the U.S., and in certain states and foreign jurisdictions. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized.

During the fourth quarter of 2018, we recognized $50.0 million of tax expense related to the increase in our valuation allowance provided against our deferred tax assets. We increased our valuation allowance related to our U.K. deferred tax assets by $3.6 million as it had been previously determined in 2017 that the U.K. deferred tax assets were not realizable. In addition, we recognized $31.6 million of tax expense for a partial valuation allowance related to our deferred tax assets in the U.S. and $14.8 million of tax expense for a full valuation allowance related to our deferred tax assets in Germany and Singapore, writing down our deferred tax assets in these jurisdictions to what is more likely than not realizable. In making such a determination for these jurisdictions, we considered all available positive and negative evidence, including our recent history of pretax losses over the prior three year period, the goodwill and intangible asset impairments for our Drilling and Downhole reporting units, the future reversals of existing taxable temporary differences, the projected future taxable income or loss, including the effect of U.S. tax reform, and tax-planning.

Taxes are provided as necessary with respect to non-U.S. earnings that are not permanently reinvested. For all other non-U.S. earnings, no U.S. taxes are provided because such earnings are intended to be reinvested indefinitely to finance non-U.S. activities. The determination of the amount of the unrecognized deferred tax liability for temporary differences related to investments in non-U.S. subsidiaries is not practicable.

We file income tax returns in the U.S. as well as in various states and non-U.S. jurisdictions. With few exceptions, we are no longer subject to income tax examination by tax authorities in these jurisdictions prior to 2012.

We account for uncertain tax positions in accordance with guidance in FASB ASC 740, which prescribes the minimum recognition threshold a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):



Balance at January 1, 2018	$	14,768
Additional based on tax positions related to current year	1,485
Lapse of statute of limitations	(2,999		)
Balance at December 31, 2018	13,254

The total amount of unrecognized tax benefits at December 31, 2018 was $13.3 million, of which it is reasonably possible that $2.6 million could be settled during the next twelve-month period as a result of the conclusion of various tax audits or due to the expiration of the applicable statute of limitations. Substantially all of the unrecognized tax benefits at December 31, 2018 would impact our future effective income tax rate, if recognized.

We recognize interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statements of loss. As of December 31, 2018 and 2017, we had accrued approximately $0.3 million and $0.6 million in interest and penalties, respectively. During the years ended December 31, 2018 and 2017, we recognized no material change in the interest and penalties related to uncertain tax positions.

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements At December 31, 2018 and 2017, the Company had $119.0 million and $108.4 million, respectively, of debt outstanding under the Credit Facility which incurs interest at a variable interest rate and therefore, the carrying amount approximates fair value. The fair value of the debt is classified as a Level 2 measurement because interest rates charged are similar to other financial instruments with similar terms and maturities. The fair value of the Company’s Senior Notes is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those or similar instruments. At December 31, 2018, the fair value and the carrying value of the Company’s unsecured Senior Notes approximated $362.0 million and $398.1 million, respectively. At December 31, 2017, the fair value and the carrying value of the Company’s unsecured Senior Notes approximated $402.0 million and $397.4 million, respectively. There were no other outstanding financial instruments as of December 31, 2018 and 2017 that required measuring the amounts at fair value on a recurring basis. The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods and there were no transfers between levels of the fair value hierarchy during the year ended December 31, 2018.

- 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

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Litigation

In the ordinary course of business, the Company is, and in the future, could be involved in various pending or threatened legal actions, some of which may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are believed to be probable and can be estimated. The reserves accrued at December 31, 2018 and 2017 are immaterial. In the opinion of management, the Company’s ultimate liability, if any, with respect to these actions is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Asbestos litigation

One of our subsidiaries has been named as one of many defendants in a number of product liability claims for alleged exposure to asbestos. These lawsuits are typically filed on behalf of plaintiffs who allege exposure to asbestos, against numerous defendants, often forty or more, who are alleged to have manufactured or distributed products containing asbestos. The injuries alleged by plaintiffs in these cases range from mesothelioma and other cancers to asbestosis. The earliest claims against our subsidiary were filed in New Jersey in 1998, and our subsidiary currently has active cases in Missouri, New Jersey, New York, and Illinois. These complaints do not typically include requests for a specific amount of damages. Our subsidiary acquired the trademark for the product line in question in 1985. To date, the claims against our subsidiary alleging illnesses due to asbestos have been based on products manufactured by the previous owner prior to 1985 that are alleged to have contained asbestos. Our subsidiary did not utilize asbestos in the production of these products after its purchase of the trademark, as by that date the hazards of asbestos exposure were well known and asbestos had begun to fall into disuse. Our subsidiary has been successful in obtaining dismissals in most lawsuits without any cash contribution. This is because the “successor liability” law in most states does not hold a purchaser in good faith liable for the actions of the seller prior to the acquisition date unless the purchaser contractually assumed the liabilities, which our subsidiary did not. There are exceptions to the successor liability doctrine in many states, so there are no assurances that our subsidiary will not be found liable for the actions of its predecessor. The law in other states on so called “successor liability” may be different or ambiguous in this regard, and could also expose our subsidiary to liability. Our subsidiary could also be found liable should a trier of fact determine that it did use asbestos in its products, notwithstanding our position to the contrary. To date, asbestos claims have not had a material adverse effect on our business, financial condition, results of operations, or cash flow, as our annual out-of-pocket costs over the last five years has been less than $200,000. There were fewer than 25 new cases filed against our subsidiary in each of last two years, and a significant number of existing cases were dismissed, settled or otherwise disposed of over the last year. We currently have fewer than 150 lawsuits pending against this subsidiary. Our subsidiary has over $17 million in face amount of insurance per occurrence and over $23 million of aggregate primary insurance coverage. In addition, our subsidiary has over $950 million in face amount of excess coverage applicable to the claims. There can be no guarantee that all of this can be collected due to policy terms and conditions and insurer insolvencies in the past or in the future. In January 2011, we entered into an agreement with seven of our primary insurers under which they have agreed to pay 80% of the costs of handling and settling each asbestos claim against the affected subsidiary. The insurers’ portion of the settlements is funded by our aggregate primary limits, which are eroded only by settlements and not legal fees. Approximately $2.0 million in settlements has been paid by insurers to date, with approximately $40,000 paid over the course of the last two years. Our subsidiary and the subscribing insurers have the right to withdraw from this agreement, but to date, no party has exercised this right or expressed an intent to do so.

Portland Harbor Superfund litigation

In May 2009, one of the Company’s subsidiaries (which is presently a dormant company with nominal assets except for rights under insurance policies) was named along with many defendants in a suit filed by the Port of Portland, Oregon seeking reimbursement of costs related to a five-year study of contaminated sediments at the port. In March 2010, the subsidiary also received a notice letter from the Environmental Protection Agency indicating that it had been identified as a potentially responsible party with respect to environmental contamination in the “study area” for the Portland Harbor Superfund Site. Under a 1997 indemnity agreement, the subsidiary is indemnified by a third party with respect to losses relating to environmental contamination. As required under the indemnity agreement, the subsidiary provided notice of these claims, and the indemnitor has assumed responsibility and is providing a defense of the claims. Although the Company believes that it is unlikely that the subsidiary contributed to the contamination at the Portland Harbor Superfund Site, the potential liability of the subsidiary and the ability of the indemnitor to fulfill its indemnity obligations cannot be quantified at this time.

Operating leases

The Company has operating leases for warehouse, office space, manufacturing facilities and equipment. The leases generally require the Company to pay certain expenses including taxes, insurance, maintenance, and utilities. The minimum future lease commitments under noncancelable leases in effect at December 31, 2018 are as follows:



2019	$	17,536
2020	14,826
2021	12,800
2022	11,202
2023	5,701
Thereafter	15,069
	$	77,134

Total rent expense was $18.3 million, $19.3 million and $18.6 million under operating leases for the years ended December 31, 2018, 2017 and 2016, respectively.

Letters of credit and guarantees

The Company executes letters of credit in the normal course of business to secure the delivery of product from specific vendors and also to guarantee the Company fulfilling certain performance obligations relating to certain large contracts. At December 31, 2018, the Company had $13.6 million in letters of credit outstanding.

Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

The reconciliation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):



	Year ended December 31,
	2018			2017			2016
Net loss attributable to common stockholders	$	(374,080	)	$	(59,400	)	$	(81,978	)

Basic - weighted average shares outstanding	108,771			98,689			91,226
Dilutive effect of stock options and restricted stock	—			—			—
Diluted - weighted average shares outstanding	108,771			98,689			91,226

Loss per share
Basic	$	(3.44	)	$	(0.60	)	$	(0.90	)
Diluted	$	(3.44	)	$	(0.60	)	$	(0.90	)

For all periods presented, we excluded all potentially dilutive restricted shares and stock options in calculating diluted earnings per share as the effect was anti-dilutive due to the net losses incurred for these periods.

Stockholders' Equity and Employee Benefit Plans	12 Months Ended
Stockholders' Equity and Employee Benefit Plans	Dec. 31, 2018
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Stockholders' Equity and Employee Benefit Plans	Stockholders' Equity and Employee Benefit Plans Shares issued for Acquisition On January 9, 2017, the Company issued 196,249 shares of common stock to acquire 100% of the general partnership interests of Innovative Valve Components. On October 2, 2017, the Company issued 11.5 million shares of common stock to acquire the remaining membership interests in Global Tubing. Refer to Note 4 Acquisitions & Dispositions for further details on these acquisitions. Equity offering In December 2016, the Company offered and sold 4.0 million shares of the Company’s common stock and raised $85.1 million in cash (net of expenses) pursuant to a public equity offering. Employee benefit plans We sponsor a 401(k) savings plan for U.S. employees and related savings plans for certain non-U.S. employees. These plans benefit eligible employees by allowing them the opportunity to make contributions up to certain limits. We contribute by matching a percentage of each employee’s contributions. In 2016, for certain plans, we temporarily suspended the matching of contributions. Subsequent to the closing of all acquisitions, employees of those acquired entities will generally be eligible to participate in the Company’s 401(k) savings plan. We also have the discretion to provide a profit sharing contribution to each participant depending on the Company’s performance for the applicable year. The expense under the Company’s plan was $6.2 million, $5.4 million, and $1.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. The Company has an Employee Stock Purchase Plan, which allows eligible employees to purchase shares of the Company’s common stock at six-month intervals through periodic payroll deductions at a price per share equal to 85.0% of the lower of the fair market value at the beginning and ending of the six-month intervals. Stock repurchases In October 2014, the board of directors approved a program for the repurchase of outstanding shares of the Company’s common stock with an aggregate purchase price of up to $150.0 million. The Company has purchased approximately 4.5 million shares (primarily in 2014) under this program for aggregate consideration of approximately $100.2 million.

Stock Based Compensation

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation

FET stock based compensation plan

In August 2010, the Company created the 2010 Stock Incentive Plan (the “2010 Plan”) to allow for employees, directors and consultants of the Company and its subsidiaries to maintain stock ownership in the Company through the award of stock options, restricted stock, restricted stock units or any combination thereof. Under the terms of the 2010 Plan, a total of 18.5 million shares were authorized for awards.

In May 2016, the Company created a new 2016 Stock and Incentive Plan (the “ 2016 Plan”). Under the terms of the 2016 Plan, the aggregate number of shares that may be issued may not exceed the number of shares reserved but not issued under the 2010 Plan as of May 17, 2016, the effective date of the 2016 plan, a total of 5.7 million shares. No further awards shall be made under the 2010 Plan after such date, and outstanding awards granted under the 2010 Plan shall continue to be outstanding. Approximately 2.8 million shares remained available under the 2016 Plan for future grants as of December 31, 2018.

The total amount of stock based compensation expense recorded was approximately $19.9 million, $20.3 million and $20.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. As of December 31, 2018, the Company expects to record stock based compensation expense of approximately $27.0 million over a weighted average remaining term of approximately two years. Future grants will result in additional compensation expense.

Stock options

The exercise price of each option is based on the fair market value of the Company’s stock at the date of grant. Options generally have a ten-year life and vest annually in equal increments over three or four years. The Company’s policy for issuing stock upon a stock option exercise is to issue new shares. Compensation expense is recognized on a straight line basis over the vesting period. The following tables provide additional information related to the options:



2018 Activity	Number of shares (in thousands)		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value (in millions)
Beginning balance	5,817		$	12.66	4.6	$	—
Granted	505		$	12.00
Exercised	(35	)	$	7.11
Forfeited/expired	(547	)	$	15.22
Total outstanding	5,740		$	12.39	3.7	$	—
Options exercisable	4,850		$	12.25	3.0	$	—

As of December 31, 2018, the share price of the Company was less than the exercise price for all outstanding stock options and, therefore, the intrinsic value for stock options outstanding and exercisable were both zero.

The assumptions used in the Black-Scholes pricing model to estimate the fair value of the options granted in 2018, 2017 and 2016 are as follows:



	2018	2017	2016
Weighted average fair value	$5.62	$8.95	$3.85
Assumptions
Expected life (in years)	6.25	6.25	6.25
Volatility	44%	43%	40%
Dividend yield	—%	—%	—%
Risk free interest rate	2.74%	2.11%	1.40%

The intrinsic value of the options exercised was $0.2 million in 2018, $1.6 million in 2017 and $1.3 million in 2016. The intrinsic value is the amount by which the fair value of the underlying share exceeds the exercise price of an option.

Restricted stock

Restricted stock generally vests over a three or four year period from the date of grant. The following table provides additional information related to our restricted stock:



2018 Activity	Restricted stock (shares in thousands)
Nonvested at beginning of year	292
Granted	63
Vested	(124	)
Forfeited	(36	)
Nonvested at the end of year	195

The weighted average grant date fair value of the restricted stock was $12.00, $19.00 and $10.28 per share during the years ended December 31, 2018, 2017 and 2016, respectively. The total fair value of shares vested was $1.7 million during 2018, $2.3 million during 2017 and $3.9 million during 2016.

Restricted stock units

Restricted stock units generally vest over a three or four year period from the date of grant. The following table provides additional information related to our restricted stock units:



2018 Activity	Restricted stock units (shares in thousands)
Nonvested at beginning of year	2,226
Granted	1,507
Vested	(856	)
Forfeited	(422	)
Nonvested at the end of year	2,455

The weighted average grant date fair value of the restricted stock units was $10.54, $17.97 and $9.74 per share during the years ended December 31, 2018, 2017 and 2016, respectively. The total fair value of units vested was $14.2 million, $10.0 million, and $8.4 million during 2018, 2017 and 2016, respectively.

Performance share awards

During 2018, the Company granted 160,010 performance share awards with service-vesting and market-vesting conditions. These awards may settle between zero and two shares of the Company’s common stock for each performance share unit awarded. The number of shares issued pursuant to the performance share awards will be determined based on the total shareholder return of the Company’s common stock as compared to a group of peer companies, measured annually over a one-year, two-year, and three-year performance period.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has sold and purchased inventory, services and fixed assets to and from various affiliates of certain directors. The dollar amounts related to these related party activities are not significant to the Company’s consolidated financial statements.

Business Segments

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Business Segments

In the first quarter 2019, we changed our reportable segments in order to align with business activity drivers and the manner in which management reviews and evaluates operating performance. Forum now operates in the following three reportable segments: Drilling & Downhole, Completions and Production. This move better aligns with the key phases of the well cycle and provides improved operating efficiencies. Historically, we operated in three reportable segments: Drilling & Subsea, Completions, and Production & Infrastructure. We have moved the Downhole product line from Completions to Drilling & Subsea to form the new Drilling & Downhole segment. Completions retains the Stimulation & Intervention and Coiled Tubing product lines. Finally, we renamed Production & Infrastructure as the Production segment. Our historical results of operations have been recast to retrospectively reflect these changes in accordance with GAAP.

The Drilling & Downhole segment designs and manufactures products and provides related services to the drilling, well construction and subsea energy construction and services markets as well as other markets such as alternative energy, defense and communications. The Completions segment designs, manufactures and supplies products and provides related services to the completion, stimulation and intervention markets. The Production segment designs, manufactures and supplies products, and provides related equipment and services for production and infrastructure markets.

The Company’s reportable segments are strategic units that offer distinct products and services. They are managed separately since each business segment requires different marketing strategies. Operating segments have not been aggregated as part of a reportable segment. The Company evaluates the performance of its reportable segments based on operating income. This segmentation is representative of the manner in which our Chief Operating Decision Maker and our board of directors view the business. We consider the Chief Operating Decision Maker to be the Chief Executive Officer.

The amounts indicated below as “Corporate” relate to costs and assets not allocated to the reportable segments. Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2018			2017			2016
Revenue:
Drilling & Downhole	$	334,019		$	310,523		$	283,010
Completions	373,107			184,182			72,241
Production	361,407			327,287			233,754
Eliminations	(4,314		)	(3,372		)	(1,370		)
Total revenue	$	1,064,219		$	818,620		$	587,635

Segment operating income (loss):
Drilling & Downhole	$	(33,335	)	$	(47,106	)	$	(62,439	)
Completions	31,924			8,797			(36,225		)
Production	6,022			7,811			655
Corporate	(35,079		)	(33,427		)	(27,440		)
Total segment operating loss	(30,468		)	(63,925		)	(125,449		)
Goodwill and intangible asset impairments	363,522			69,062			—
Transaction expenses	3,446			6,511			865
Loss (gain) on disposal of assets and other	(438		)	2,097			2,638
Operating loss	$	(396,998	)	$	(141,595	)	$	(128,952	)

Depreciation and amortization
Drilling & Downhole	$	31,985		$	38,463		$	41,231
Completions	33,943			17,631			13,145
Production	8,407			8,608			6,738
Corporate	173			427			646
Total depreciation and amortization	$	74,508		$	65,129		$	61,760

A summary of capital expenditures by reportable segment is as follows (in thousands):



	Year ended December 31,
Capital expenditures	2018		2017		2016
Drilling & Downhole	$	8,067	$	7,093	$	8,232
Completions	4,997		4,789		2,099
Production	4,877		6,855		1,953
Corporate	6,102		7,972		4,544
Total capital expenditures	$	24,043	$	26,709	$	16,828

A summary of consolidated assets by reportable segment is as follows (in thousands):



	Year ended December 31,
Assets	2018		2017		2016
Drilling & Downhole	$	663,414	$	1,057,378	$	1,145,426
Completions	872,731		790,255		317,016
Production	243,354		251,685		175,940
Corporate	50,153		95,910		196,810
Total assets	$	1,829,652	$	2,195,228	$	1,835,192

Corporate assets primarily include deferred tax assets and deferred loan costs.

A summary of long-lived assets by country is as follows (in thousands):



	Year ended December 31,
Long-lived assets:	2018		2017		2016
United States	$	868,295	$	1,087,381	$	809,545
Europe & Africa	100,451		213,008		184,768
Canada	87,221		88,280		79,403
Asia-Pacific	984		7,984		7,855
Middle East	6,049		7,362		3,175
Latin America	635		832		730
Total long-lived assets	$	1,063,635	$	1,404,847	$	1,085,476

The following table presents our revenues disaggregated by geography based on shipping destination (in thousands):



	Year ended December 31,
	2018				2017				2016
Revenue:	$		%		$		%		$		%
United States	$	811,724	76.3	%	$	621,445	76.0	%	$	361,941	61.7	%
Canada	68,635		6.4	%	60,898		7.4	%	42,520		7.2	%
Europe & Africa	57,632		5.4	%	61,134		7.5	%	77,847		13.2	%
Middle East	54,541		5.1	%	25,634		3.1	%	25,975		4.4	%
Asia-Pacific	46,503		4.4	%	28,694		3.5	%	51,880		8.8	%
Latin America	25,184		2.4	%	20,815		2.5	%	27,472		4.7	%
Total Revenue	$	1,064,219	100.0	%	$	818,620	100.0	%	$	587,635	100.0	%

The following table presents our revenues disaggregated by product line (in thousands):



	Year ended December 31,
	2018					2017					2016
Revenue:	$			%		$			%		$			%
Drilling Technologies	$	178,260		16.6	%	$	168,816		20.6	%	$	135,051		23.3	%
Downhole Technologies	104,974			9.9	%	76,010			9.3	%	59,545			10.1	%
Subsea Technologies	50,785			4.8	%	65,697			8.0	%	88,414			15.0	%
Stimulation and Intervention	228,721			21.5	%	148,666			18.2	%	72,241			12.3	%
Coiled Tubing	144,386			13.6	%	35,516			4.3	%	—			—	%
Production Equipment	141,169			13.3	%	124,323			15.2	%	77,166			13.1	%
Valve Solutions	220,238			20.7	%	202,964			24.8	%	156,588			26.6	%
Eliminations	(4,314		)	(0.4	)%	(3,372		)	(0.4	)%	(1,370		)	(0.4	)%
Total revenue	$	1,064,219		100.0	%	$	818,620		100.0	%	$	587,635		100.0	%

Condensed Consolidating Financial Statements

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Financial Statements

The Senior Notes are guaranteed by our domestic subsidiaries which are 100% owned, directly or indirectly, by the Company. The guarantees are full and unconditional, joint and several and on an unsecured basis.



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2018
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	936,319		$	187,647		$	(59,747	)	$	1,064,219
Cost of sales	—			717,519			151,787			(61,459		)	807,847
Gross Profit	—			218,800			35,860			1,712			256,372
Operating Expenses
Selling, general and administrative expenses	—			231,492			55,488			—			286,980
Goodwill and intangible assets impairment	—			233,635			129,887			—			363,522
Transaction Expenses	—			2,926			520			—			3,446
Loss (gain) on disposal of assets and other	—			(1,274		)	836			—			(438		)
Total operating expenses	—			466,779			186,731			—			653,510
Earnings (loss) from equity investment	—			529			(389		)	—			140
Equity loss from affiliate, net of tax	(348,557		)	(118,601		)	—			467,158			—
Operating loss	(348,557		)	(366,051		)	(151,260		)	468,870			(396,998		)
Other expense (income)
Interest expense	32,307			158			67			—			32,532
Foreign exchange and other gains, net	—			(296		)	(5,974		)	—			(6,270		)
(Gain) loss on contribution of subsea rentals business	—			5,856			(39,362		)	—			(33,506		)
Total other (income) expense, net	32,307			5,718			(45,269		)	—			(7,244		)
Loss before income taxes	(380,864		)	(371,769		)	(105,991		)	468,870			(389,754		)
Income tax expense (benefit)	(6,784		)	(23,212		)	14,322			—			(15,674		)
Net loss	(374,080		)	(348,557		)	(120,313		)	468,870			(374,080		)

Other comprehensive income (loss), net of tax:
Net loss	(374,080		)	(348,557		)	(120,313		)	468,870			(374,080		)
Change in foreign currency translation, net of tax of $0	(24,752		)	(24,752		)	(24,752		)	49,504			(24,752		)
Gain on pension liability	1,489			1,489			1,489			(2,978		)	1,489
Comprehensive loss	$	(397,343	)	$	(371,820	)	$	(143,576	)	$	515,396		$	(397,343	)



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2017
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	703,409		$	182,417		$	(67,206	)	$	818,620
Cost of sales	—			550,931			145,743			(66,842		)	629,832
Gross Profit	—			152,478			36,674			(364		)	188,788
Operating Expenses
Selling, general and administrative expenses	—			205,672			48,041			—			253,713
Goodwill and intangible assets impairment	—			33,301			35,761			—			69,062
Transaction Expenses	—			6,521			(10		)	—			6,511
Loss on disposal of assets and other	—			1,981			116			—			2,097
Total operating expenses	—			247,475			83,908			—			331,383
Earnings from equity investment	—			1,000			—			—			1,000
Equity loss from affiliate, net of tax	(41,253		)	(53,682		)	—			94,935			—
Operating loss	(41,253		)	(147,679		)	(47,234		)	94,571			(141,595		)
Other expense (income)
Interest expense (income)	27,919			(569		)	(542		)	—			26,808
Foreign exchange and other losses (gains), net	—			(118		)	7,386			—			7,268
Gain realized on previously held equity investment	—			(120,392		)	—			—			(120,392		)
Total other (income) expense, net	27,919			(121,079		)	6,844			—			(86,316		)
Loss before income taxes	(69,172		)	(26,600		)	(54,078		)	94,571			(55,279		)
Income tax expense (benefit)	(9,772		)	14,653			(760		)	—			4,121
Net loss	(59,400		)	(41,253		)	(53,318		)	94,571			(59,400		)

Other comprehensive income (loss), net of tax:
Net loss	(59,400		)	(41,253		)	(53,318		)	94,571			(59,400		)
Change in foreign currency translation, net of tax of $0	36,163			36,163			36,163			(72,326		)	36,163
Gain on pension liability	107			107			107			(214		)	107
Comprehensive loss	$	(23,130	)	$	(4,983	)	$	(17,048	)	$	22,031		$	(23,130	)



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2016
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	436,785		$	198,684		$	(47,834	)	$	587,635
Cost of sales	—			375,509			161,190			(48,799		)	487,900
Gross Profit	—			61,276			37,494			965			99,735
Operating Expenses
Selling, general and administrative expenses	—			187,974			39,034			—			227,008
Transaction Expenses	—			825			40			—			865
Loss on disposal of assets and other	—			2,616			22			—			2,638
Total operating expenses	—			191,415			39,096			—			230,511
Earnings from equity investment	—			1,824			—			—			1,824
Equity earnings (loss) from affiliate, net of tax	(62,180		)	14,663			—			47,517			—
Operating loss	(62,180		)	(113,652		)	(1,602		)	48,482			(128,952		)
Other expense (income)
Interest expense (income)	27,480			(110		)	40			—			27,410
Foreign exchange and other gains, net	—			(5,264		)	(16,077		)	—			(21,341		)
Deferred loan costs written off	2,978			—			—			—			2,978
Total other (income) expense, net	30,458			(5,374		)	(16,037		)	—			9,047
Income (loss) before income taxes	(92,638		)	(108,278		)	14,435			48,482			(137,999		)
Income tax expense (benefit)	(10,660		)	(46,098		)	707			—			(56,051		)
Net income (loss)	(81,978		)	(62,180		)	13,728			48,482			(81,948		)
Less: Income attributable to noncontrolling interest	—			—			30			—			30
Net income (loss) attributable to common stockholders	(81,978		)	(62,180		)	13,698			48,482			(81,978		)

Other comprehensive income (loss), net of tax:
Net income (loss)	(81,978		)	(62,180		)	13,728			48,482			(81,948		)
Change in foreign currency translation, net of tax of $0	(45,722		)	(45,722		)	(45,722		)	91,444			(45,722		)
Loss on pension liability	(335		)	(335		)	(335		)	670			(335		)
Comprehensive loss	(128,035		)	(108,237		)	(32,329		)	140,596			(128,005		)
Less: comprehensive loss attributable to noncontrolling interests	—			—			(162		)	—			(162		)
Comprehensive loss attributable to common stockholders	$	(128,035	)	$	(108,237	)	$	(32,491	)	$	140,596		$	(128,167	)



Condensed consolidating balance sheets

	December 31, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	24,977	$	22,264		$	—		$	47,241
Accounts receivable—trade, net	—		177,986		28,069			—			206,055
Inventories, net	—		416,237		69,878			(7,092		)	479,023
Prepaid expenses and other current assets	—		23,585		92			—			23,677
Costs and estimated profits in excess of billings	—		6,202		2,957			—			9,159
Accrued revenue	—		—		862			—			862
Total current assets	—		648,987		124,122			(7,092		)	766,017
Property and equipment, net of accumulated depreciation	—		156,434		20,924			—			177,358
Deferred financing costs, net	2,071		—		—			—			2,071
Intangible assets	—		320,056		38,992			—			359,048
Goodwill	—		433,415		36,232			—			469,647
Investment in unconsolidated subsidiary	—		1,222		43,760			—			44,982
Deferred income taxes, net	—		1,170		64			—			1,234
Other long-term assets	—		4,194		5,101			—			9,295
Investment in affiliates	877,764		265,714		—			(1,143,478		)	—
Long-term advances to affiliates	674,220		—		98,532			(772,752		)	—
Total assets	$	1,554,055	$	1,831,192	$	367,727		$	(1,923,322	)	$	1,829,652
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,150	$	17		$	—		$	1,167
Accounts payable—trade	—		121,019		22,167			—			143,186
Accrued liabilities	6,873		40,913		33,246			—			81,032
Deferred revenue	—		4,742		3,593			—			8,335
Billings in excess of costs and profits recognized	—		84		3,126			—			3,210
Total current liabilities	6,873		167,908		62,149			—			236,930
Long-term debt, net of current portion	517,056		480		8		—	—			517,544
Deferred income taxes, net	—		—		15,299			—			15,299
Other long-term liabilities	—		12,288		17,465			—			29,753
Long-term payables to affiliates	—		772,752		—			(772,752		)	—
Total liabilities	523,929		953,428		94,921			(772,752		)	799,526
											—
Total equity	1,030,126		877,764		272,806			(1,150,570		)	1,030,126
Total liabilities and equity	$	1,554,055	$	1,831,192	$	367,727		$	(1,923,322	)	$	1,829,652



Condensed consolidating balance sheets

	December 31, 2017
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	73,981	$	41,235		$	—		$	115,216
Accounts receivable—trade, net	—		168,162		34,752			—			202,914
Inventories, net	—		374,527		77,454			(8,804		)	443,177
Prepaid expenses and other current assets	—		12,679		6,811			—			19,490
Costs and estimated profits in excess of billings	—		9,584		—			—			9,584
Total current assets	—		638,933		160,252			(8,804		)	790,381
Property and equipment, net of accumulated depreciation	—		167,407		29,874			—			197,281
Deferred financing costs, net	2,900		—		—			—			2,900
Intangible assets	—		390,752		52,312			—			443,064
Goodwill	—		599,677		155,568			—			755,245
Deferred income taxes, net	—		—		3,344			—			3,344
Other long-term assets	—		2,086		927			—			3,013
Investment in affiliates	1,250,593		418,799		—			(1,669,392		)	—
Long-term advances to affiliates	667,968		—		90,524			(758,492		)	—
Total assets	$	1,921,461	$	2,217,654	$	492,801		$	(2,436,688	)	$	2,195,228
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,048	$	108		$	—		$	1,156
Accounts payable—trade	—		117,158		20,526			—			137,684
Accrued liabilities	6,638		46,962		13,165			—			66,765
Deferred revenue	—		4,455		4,364			—			8,819
Billings in excess of costs and profits recognized	—		1,394		487			—			1,881
Total current liabilities	6,638		171,017		38,650			—			216,305
Long-term debt, net of current portion	505,807		908		35		—	—			506,750
Deferred income taxes, net	—		22,737		8,495			—			31,232
Other long-term liabilities	—		13,907		18,018			—			31,925
Long-term payables to affiliates	—		758,492		—			(758,492		)	—
Total liabilities	512,445		967,061		65,198			(758,492		)	786,212

Total equity	1,409,016		1,250,593		427,603			(1,678,196		)	1,409,016
Total liabilities and equity	$	1,921,461	$	2,217,654	$	492,801		$	(2,436,688	)	$	2,195,228



Condensed consolidating statements of cash flows

	Year ended December 31, 2018
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	10,461		$	(76	)	$	15,972		$	(23,950	)	$	2,407
Cash flows from investing activities
Capital expenditures for property and equipment	—			(20,288		)	(3,755		)	—			(24,043		)
Acquisition of businesses, net of cash acquired	—			(60,622		)	—			—			(60,622		)
Investment in unconsolidated subsidiary	—			—			—			—			—
Proceeds from sale of business, property and equipment	—			5,192			4,066			—			9,258
Long-term loans and advances to affiliates	(18,130		)	9,690			—			8,440			—
Net cash provided by (used in) investing activities	(18,130		)	(66,028		)	311			8,440			(75,407		)
Cash flows from financing activities
Borrowings of debt	221,980			—			—			—			221,980
Repayments of debt	(211,783		)	—			—			—			(211,783		)
Repurchases of stock	(2,777		)	—			—			—			(2,777		)
Proceeds from stock issuance	249			—			—			—			249
Payment of capital lease obligations	—			(1,030		)	(117		)	—			(1,147		)
Long-term loans and advances to affiliates	—			18,130			(9,690		)	(8,440		)	—
Dividend paid to affiliates	—			—			(23,950		)	23,950			—
Net cash provided by (used in) financing activities	7,669			17,100			(33,757		)	15,510			6,522

Effect of exchange rate changes on cash	—			—			(1,497		)	—			(1,497		)

Net decrease in cash, cash equivalents and restricted cash	—			(49,004		)	(18,971		)	—			(67,975		)
Cash, cash equivalents and restricted cash at beginning of period	—			73,981			41,235			—			115,216
Cash, cash equivalents and restricted cash at end of period	$	—		$	24,977		$	22,264		$	—		$	47,241



Condensed consolidating statements of cash flows

	Year ended December 31, 2017
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(15,718	)	$	483		$	3,702		$	(28,500	)	$	(40,033	)
Cash flows from investing activities
Capital expenditures for property and equipment	—			(20,499		)	(6,210		)	—			(26,709		)
Acquisition of businesses, net of cash acquired	—			(157,297		)	(4,892		)	—			(162,189		)
Investment in unconsolidated subsidiary	—			(1,041		)	—			—			(1,041		)
Proceeds from sale of property and equipment	—			2,038			(67		)	—			1,971
Long-term loans and advances to affiliates	(86,097		)	22,072			—			64,025			—
Net cash used in investing activities	(86,097		)	(154,727		)	(11,169		)	64,025			(187,968		)
Cash flows from financing activities
Borrowings of debt	107,431			—			—			—			107,431
Repurchases of stock	(4,742		)	—			—			—			(4,742		)
Proceeds from stock issuance	1,491			—			—			—			1,491
Payment of capital lease obligations	—			(1,147		)	(40		)	—			(1,187		)
Deferred financing costs	(2,430		)	—			—			—			(2,430		)
Long-term loans and advances to affiliates	—			86,097			(22,072		)	(64,025		)	—
Dividend paid to affiliates	—			—			(28,500		)	28,500			—
Net cash provided by (used in) financing activities	101,750			84,950			(50,612		)	(35,525		)	100,563

Effect of exchange rate changes on cash	—			—			8,232			—			8,232

Net decrease in cash, cash equivalents and restricted cash	(65		)	(69,294		)	(49,847		)	—			(119,206		)
Cash, cash equivalents and restricted cash at beginning of period	65			143,275			91,082			—			234,422
Cash, cash equivalents and restricted cash at end of period	$	—		$	73,981		$	41,235		$	—		$	115,216



Condensed consolidating statements of cash flows

	Year ended December 31, 2016
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(16,882	)	$	31,055		$	73,772		$	(23,203	)	$	64,742
Cash flows from investing activities
Capital expenditures for property and equipment	—			(12,033		)	(4,795		)	—			(16,828		)
Acquisition of businesses, net of cash acquired	—			(4,072		)	—			—			(4,072		)
Proceeds from sale of property and equipment	—			9,442			321			—			9,763
Long-term loans and advances to affiliates	(69,340		)	12,912			—			56,428			—
Net cash provided by (used in) investing activities	(69,340		)	6,249			(4,474		)	56,428			(11,137		)
Cash flows from financing activities
Repurchases of stock	(623		)	—			—			—			(623		)
Proceeds from stock issuance	87,676			—			—			—			87,676
Payment of capital lease obligations	—			(253		)	161			—			(92		)
Deferred financing costs	(766		)	—			—			—			(766		)
Long-term loans and advances to affiliates	—			69,340			(12,912		)	(56,428		)	—
Dividend paid to affiliates	—			—			(23,203		)	23,203			—
Net cash provided by (used in) financing activities	86,287			69,087			(35,954		)	(33,225		)	86,195

Effect of exchange rate changes on cash	—			—			(14,627		)	—			(14,627		)

Net increase in cash, cash equivalents and restricted cash	65			106,391			18,717			—			125,173
Cash, cash equivalents and restricted cash at beginning of period	—			36,884			72,365			—			109,249
Cash, cash equivalents and restricted cash at end of period	$	65		$	143,275		$	91,082		$	—		$	234,422

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

The following tables summarize the Company’s results by quarter for the years ended December 31, 2018 and 2017. The quarterly results may not be comparable primarily due to acquisitions in 2018, 2017 and 2016. Refer to Note 4 Acquisitions & Dispositions for further information.



	2018
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	250,231		$	274,003		$	267,037		$	272,948
Cost of sales	182,944			201,334			192,496			231,073
Gross profit	67,287			72,669			74,541			41,875
Total operating expenses (1)	73,030			84,721			72,764			422,995
Earnings (loss) from equity investment	(963		)	350			659			94
Operating income (loss)	(6,706		)	(11,702		)	2,436			(381,026		)
Total other expense (income), net (2)	(21,868		)	2,001			6,598			6,025
Income (loss) before income taxes	15,162			(13,703		)	(4,162		)	(387,051		)
Income tax expense (benefit)	(12,904		)	1,646			(1,108		)	(3,308		)
Net income (loss)	28,066			(15,349		)	(3,054		)	(383,743		)

Weighted average shares outstanding
Basic	108,423			108,714			108,856			109,082
Diluted	110,857			108,714			108,856			109,082
Earnings (loss) per share
Basic	$	0.26		$	(0.14	)	$	(0.03	)	$	(3.52	)
Diluted	$	0.25		$	(0.14	)	$	(0.03	)	$	(3.52	)


(1)	Total operating expenses included $14.5 million of intangible asset impairments for the Subsea and Downhole product lines in Q2, $298.8 million of goodwill impairment charges in Q4 and $50.2 million of intangible asset impairments in Q4. See Note 7 Goodwill and Intangible Assets for further information related to these charges.


(2)	Total other expenses included a $33.5 million gain on contribution of our subsea rentals business in Q1. See Note 4 Acquisitions & Dispositions for further information related to this gain.



	2017
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	171,096		$	201,115		$	198,709		$	247,700
Cost of sales	132,117			151,860			151,150			194,705
Gross profit	38,979			49,255			47,559			52,995
Total operating expenses (1)	61,056			131,779			64,839			73,709
Earnings (loss) from equity investment	1,462			2,568			3,361			(6,391		)
Operating loss	(20,615		)	(79,956		)	(13,919		)	(27,105		)
Total other expense (income), net (2)	8,126			8,987			8,726			(112,155		)
Income (loss) before income taxes	(28,741		)	(88,943		)	(22,645		)	85,050
Income tax expense (benefit)	(12,973		)	(11,070		)	(7,817		)	35,981
Net income (loss)	(15,768		)	(77,873		)	(14,828		)	49,069

Weighted average shares outstanding
Basic	95,860			96,170			96,275			105,947
Diluted	95,860			96,170			96,275			108,581
Earnings (loss) per share
Basic	$	(0.16	)	$	(0.81	)	$	(0.15	)	$	0.46
Diluted	$	(0.16	)	$	(0.81	)	$	(0.15	)	$	0.45


(1)	Total operating expenses in Q2 included a $68.0 million goodwill impairment for our Subsea reporting unit. See Note 7 Goodwill and Intangible Assets for further information related to this charges.


(2)	Total other expenses in Q4 included a $120.4 million gain realized on our previously held equity investment. See Note 4 Acquisitions & Dispositions for further information related to this gain.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of presentation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Principles of consolidation

Use of estimates

Cash and cash equivalents

Accounts receivable-trade

Inventories

Property and equipment

Goodwill and intangible assets

Recognition of provisions for contingencies

Revenue recognition and deferred revenue

Disaggregated Revenue. Refer to Note 16 Business Segments for disaggregated revenue by product line and geography.

Concentration of credit risk

Stock based compensation

Expected life

Expected volatility

Dividend yield

We have never declared or paid any cash dividends and do not plan to pay cash dividends for the foreseeable future. Therefore, a zero expected dividend yield was used in the valuation model.

Risk-free interest rate

The risk-free interest rate is based on U.S. Treasury zero-coupon issues with remaining terms similar to the expected life of the options.

Forfeitures

Forfeitures are accounted for as they occur.

Income taxes

Non-U.S. local currency translation

Fair value


•	Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;


•	Level 2 - inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly; and


•	Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management.

Recent accounting pronouncements

Accounting Standards Adopted in 2018

Accounting Standards Issued But Not Yet Adopted

To prepare for the adoption of this new guidance, our implementation team has:


•	reviewed existing lease contracts and identified the relevant accounting impacts of the new standard;


•	provided internal training and awareness related to the new lease standard to key stakeholders throughout our organization;


•	implemented new processes and controls in anticipation of adopting the new guidance; and


•	implemented a new cloud based lease software management system.


•	use of the transition package of practical expedients which, among other things, allows us to carry forward the historical lease classification for existing leases;


•	making an accounting policy election that will keep leases with an initial term of 12 months or less off of the balance sheet; and


•	electing to not separate non-lease components from lease components for all classes of underlying lease assets

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Allowance for Doubtful Accounts

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2018 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	8,119	$	485	$	(5,273	)	$	3,331
December 31, 2017	3,331		2,903		(439		)	5,795
December 31, 2018	5,795		3,342		(1,705		)	7,432

Schedule of Product Warranty Liability

Changes in the Company’s warranty liability were as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	5,697	$	4,031	$	(6,504	)	$	3,224
December 31, 2017	3,224		3,172		(2,776		)	3,620
December 31, 2018	3,620		1,487		(2,237		)	2,870

Revenues (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Impacts of Adopting Topic 606

The following table shows the change in the presentation of our consolidated balance sheets as of December 31, 2018:



	December 31, 2018
(in thousands, unaudited)	As Reported		Amount Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Accounts receivable—trade, net	$	206,055	$	206,917	$	(862	)
Accrued revenue	862		—		862

The following table summarizes the impacts of adopting Topic 606 on our consolidated financial statements as of January 1, 2018:



	As Reported		Adjustments due to			As Adjusted
(in thousands, unaudited)	Dec. 31, 2017		ASC 606			Jan. 1, 2018
Accounts receivable—trade, net	$	202,914	$	(3,235	)	$	199,679
Accrued revenue	—		3,235			3,235

Schedule of Changes in Contract Assets and Contract Liabilities

The following table reflects the changes in our contract assets and contract liabilities balances for the year ended December 31, 2018:



	December 31, 2018		January 1, 2018		Increase / (Decrease)
	December 31, 2018		January 1, 2018		$			%
Accrued revenue	$	862	$	3,235
Costs and estimated profits in excess of billings	9,159		9,584
Contract assets	$	10,021	$	12,819	$	(2,798	)	(22	)%

Deferred revenue	$	8,335	$	8,819
Billings in excess of costs and profits recognized	3,210		1,881
Contract liabilities	$	11,545	$	10,700	$	845		8	%

Acquisitions & Dispositions (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Current assets, net of cash acquired	$	3,763
Property and equipment	96
Intangible assets (primarily developed technologies and customer relationships)	17,090
Tax-deductible goodwill	16,472
Non-tax deductible goodwill	3,099
Current liabilities	(1,329		)
Net assets acquired	$	39,191

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Current assets, net of cash acquired	$	18,655
Non-current assets	238
Property and equipment	2,408
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,559
Current liabilities	(12,633		)
Long-term liabilities	$	(2,355	)
Net assets acquired, net of cash acquired	$	57,272

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



Accounts Receivable	$	28,044
Inventory	40,005
Other current assets	3,141
Property and equipment	51,585
Intangible assets (primarily developed technologies and customer relationships)	228,190
Tax-deductible goodwill	69,423
Non-tax deductible goodwill	64,491
Current liabilities	(16,005		)
Long term liabilities	$	(54	)
Total net assets	$	468,820
Fair value of equity method investment previously held	(178,500		)
Net assets acquired	$	290,320

The following table summarizes the consideration transferred to acquire the remaining ownership interests of Global Tubing (in thousands other than stock price and shares issued):



	Purchase Consideration
Forum Energy Technologies' closing stock price on October 2, 2017	$	15.10
Multiplied by number of shares issued for acquisition	11,488,208
Common shares	$	173,472
Cash	31,764
Repayment of Global Tubing debt at acquisition	85,084
Total Consideration paid for the acquisition	$	290,320

Business Acquisition, Pro Forma Information

he following unaudited pro forma summary presents consolidated information as if the Global Tubing acquisition had occurred on January 1, 2016:



	Pro Forma Year Ended December 31,
	2017			2016
Net sales	$	901,856		$	659,108
Net loss attributable to common stockholders	(125,204		)	(101,173		)

Inventories (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s significant components of inventory at December 31, 2018 and 2017 were as follows (in thousands):



	December 31, 2018			December 31, 2017
Raw materials and parts	$	212,526		$	160,093
Work in process	39,494			51,941
Finished goods	302,590			305,461
Gross inventories	554,610			517,495
Inventory reserve	(75,587		)	(74,318		)
Inventories	$	479,023		$	443,177

Schedule of Inventory Reserve

The change in the amounts of the inventory reserve during the three year period ended December 31, 2018 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2016	$	77,888	$	25,537	$	(35,073	)	$	68,352
December 31, 2017	68,352		14,620		(8,654		)	$	74,318
December 31, 2018	74,318		36,606		(35,337		)	$	75,587

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property and equipment consists of the following (in thousands):



	Estimated useful lives	December 31,
	Estimated useful lives	2018			2017
Land		$	9,755		$	12,408
Buildings and leasehold improvements	5-30	103,761			90,909
Computer equipment	3-5	54,721			42,074
Machinery & equipment	5-10	162,110			169,203
Furniture & fixtures	3-10	6,631			6,338
Vehicles	3-5	6,160			8,048
Construction in progress		9,155			14,589
		352,293			343,569
Less: accumulated depreciation		(180,717		)	(160,787		)
Property & equipment, net		171,576			182,782

Rental equipment	3-10	9,535			70,679
Less: accumulated depreciation		(3,753		)	(56,180		)
Rental equipment, net		5,782			14,499

Total property & equipment, net		$	177,358		$	197,281

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):



	Drilling & Downhole			Completions			Production			Total
Goodwill balance at December 31, 2016	$	529,901		$	105,198		$	17,644		$	652,743
Acquisitions, net of dispositions	19,571			133,914			1,595			155,080
Impairment	(68,004		)	—			—			(68,004		)
Impact of non-U.S. local currency translation	13,515			1,704			207			15,426
Goodwill balance at December 31, 2017	494,983			240,816			19,446			755,245
Acquisitions, net of dispositions	1,753			20,559			—			22,312
Impairment	(298,789		)	—			—			(298,789		)
Impact of non-U.S. local currency translation	(6,796		)	(2,095		)	(230		)	$	(9,121	)
Goodwill balance at December 31, 2018	$	191,151		$	259,280		$	19,216		$	469,647

Summary of Intangible Assets

At December 31, 2018 and 2017, intangible assets consisted of the following, respectively (in thousands):



	December 31, 2018
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	337,546	$	(110,228	)	$	227,318	4 - 15
Patents and technology	104,394		(17,148		)	87,246		5 - 17
Non-compete agreements	6,245		(5,600		)	645		3 - 6
Trade names	47,493		(18,107		)	29,386		10 - 15
Distributor relationships	22,160		(17,602		)	4,558		8 - 15
Trademark	10,319		(424		)	9,895		15 - Indefinite
Intangible Assets Total	$	528,157	$	(169,109	)	$	359,048



	December 31, 2017
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	428,544	$	(138,566	)	$	289,978	4 - 15
Patents and technology	110,910		(16,733		)	94,177		5 - 17
Non-compete agreements	6,625		(6,041		)	584		3 - 6
Trade names	64,359		(22,090		)	42,269		10 - 15
Distributor relationships	22,160		(16,338		)	5,822		8 - 15
Trademark	10,319		(85		)	10,234		15 - Indefinite
Intangible Assets Total	$	642,917	$	(199,853	)	$	443,064

Schedule of Future Amortization Expense

The estimated future amortization expense for the next five years is as follows (in thousands):



Year ending December 31,	Amount
2019	$	34,591
2020	33,864
2021	32,974
2022	31,196
2023	28,994

Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt

Notes payable and lines of credit as of December 31, 2018 and 2017 consisted of the following (in thousands):



	December 31, 2018			December 31, 2017
6.25% Senior notes due October 2021	$	400,000		$	400,000
Unamortized debt premium	1,176			1,583
Debt issuance cost	(3,121		)	(4,222		)
Senior secured revolving credit facility	119,000			108,446
Other debt	1,656			2,099
Total debt	518,711			507,906
Less: current maturities	(1,167		)	(1,156		)
Long-term debt	$	517,544		$	506,750

Schedule of Maturities of Long-term Debt

Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands):



2019	$	1,167
2020	489
2021	519,000
2022	—
2023	—
Thereafter	—
Total future payment	$	520,656
Add: Unamortized debt premium	1,176
Less: Debt issuance cost	(3,121		)
Total debt	$	518,711

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of loss before income taxes for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):



	2018			2017			2016
U.S.	$	(285,141	)	$	(3,015	)	$	(155,058	)
Non-U.S.	(104,613		)	(52,264		)	17,059
Loss before income taxes	$	(389,754	)	$	(55,279	)	$	(137,999	)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):



	2018			2017			2016
Current
U.S. Federal and state	$	(6,932	)	$	(1,426	)	$	(38,589	)
Non-U.S.	4,810			5,398			6,956
Total current	(2,122		)	3,972			(31,633		)
Deferred
U.S. Federal and state	(21,467		)	6,415			(18,290		)
Non-U.S.	7,915			(6,266		)	(6,128		)
Total deferred	(13,552		)	149			(24,418		)
Provision (benefit) for income taxes	$	(15,674	)	$	4,121		$	(56,051	)

Schedule of Effective Income Tax Rate Reconciliation



	2018					2017					2016
Income tax expense at the statutory rate	$	(81,849	)	(21.0	)%	$	(19,348	)	(35.0	)%	$	(48,300	)	(35.0	)%
State taxes, net of federal tax benefit	(2,564		)	(0.7	)%	(294		)	(0.5	)%	(1,425		)	(1.0	)%
Non-U.S. operations	(10,166		)	(2.6	)%	6,337			11.5	%	(5,791		)	(4.2	)%
Domestic incentives	(286		)	(0.1	)%	(254		)	(0.5	)%	(170		)	(0.1	)%
Prior year federal, non-U.S. and state tax	(2,880		)	(0.7	)%	(1,283		)	(2.3	)%	(777		)	(0.6	)%
Nondeductible expenses	502			0.1	%	644			1.2	%	345			0.3	%
Goodwill impairment	46,051			11.8	%	14,731			26.6	%	—			—	%
Global Tubing acquisition	—			—	%	(9,160		)	(16.6	)%	—			—	%
U.S. tax reform	(15,604		)	(4.0	)%	10,138			18.3	%	—			—	%
Valuation allowance	50,005			12.8	%	4,523			8.2	%	—			—	%
Other	1,117			0.4	%	(1,913		)	(3.4	)%	67			—	%
Income tax expense (benefit)	$	(15,674	)	(4.0	)%	$	4,121		7.5	%	$	(56,051	)	(40.6	)%

Schedule of Deferred Tax Assets and Liabilities

The primary components of deferred taxes include (in thousands):



	2018			2017
Deferred tax assets
Reserves and accruals	$	7,259		$	5,932
Inventory	18,694			20,836
Stock awards	5,637			6,235
Net operating loss and other tax carryforwards	66,098			31,164
Other	549			1,419
Gross deferred tax assets	98,237			65,586
Valuation allowance	(54,441		)	(4,523		)
Total deferred tax assets	43,796			61,063
Deferred tax liabilities
Property and equipment	(9,565		)	(12,172		)
Goodwill and intangible assets	(42,502		)	(76,454		)
Investment in unconsolidated subsidiary	(5,402		)	—
Prepaid expenses and other	(392		)	(325		)
Total deferred tax liabilities	(57,861		)	(88,951		)
Net deferred tax liabilities	$	(14,065	)	$	(27,888	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):



Balance at January 1, 2018	$	14,768
Additional based on tax positions related to current year	1,485
Lapse of statute of limitations	(2,999		)
Balance at December 31, 2018	13,254

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The minimum future lease commitments under noncancelable leases in effect at December 31, 2018 are as follows:



2019	$	17,536
2020	14,826
2021	12,800
2022	11,202
2023	5,701
Thereafter	15,069
	$	77,134

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The reconciliation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):



	Year ended December 31,
	2018			2017			2016
Net loss attributable to common stockholders	$	(374,080	)	$	(59,400	)	$	(81,978	)

Basic - weighted average shares outstanding	108,771			98,689			91,226
Dilutive effect of stock options and restricted stock	—			—			—
Diluted - weighted average shares outstanding	108,771			98,689			91,226

Loss per share
Basic	$	(3.44	)	$	(0.60	)	$	(0.90	)
Diluted	$	(3.44	)	$	(0.60	)	$	(0.90	)

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following tables provide additional information related to the options:



2018 Activity	Number of shares (in thousands)		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value (in millions)
Beginning balance	5,817		$	12.66	4.6	$	—
Granted	505		$	12.00
Exercised	(35	)	$	7.11
Forfeited/expired	(547	)	$	15.22
Total outstanding	5,740		$	12.39	3.7	$	—
Options exercisable	4,850		$	12.25	3.0	$	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in the Black-Scholes pricing model to estimate the fair value of the options granted in 2018, 2017 and 2016 are as follows:



	2018	2017	2016
Weighted average fair value	$5.62	$8.95	$3.85
Assumptions
Expected life (in years)	6.25	6.25	6.25
Volatility	44%	43%	40%
Dividend yield	—%	—%	—%
Risk free interest rate	2.74%	2.11%	1.40%

Nonvested Restricted Stock Shares Activity

Restricted stock generally vests over a three or four year period from the date of grant. The following table provides additional information related to our restricted stock:



2018 Activity	Restricted stock (shares in thousands)
Nonvested at beginning of year	292
Granted	63
Vested	(124	)
Forfeited	(36	)
Nonvested at the end of year	195

The following table provides additional information related to our restricted stock units:



2018 Activity	Restricted stock units (shares in thousands)
Nonvested at beginning of year	2,226
Granted	1,507
Vested	(856	)
Forfeited	(422	)
Nonvested at the end of year	2,455

Business Segments (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2018			2017			2016
Revenue:
Drilling & Downhole	$	334,019		$	310,523		$	283,010
Completions	373,107			184,182			72,241
Production	361,407			327,287			233,754
Eliminations	(4,314		)	(3,372		)	(1,370		)
Total revenue	$	1,064,219		$	818,620		$	587,635

Segment operating income (loss):
Drilling & Downhole	$	(33,335	)	$	(47,106	)	$	(62,439	)
Completions	31,924			8,797			(36,225		)
Production	6,022			7,811			655
Corporate	(35,079		)	(33,427		)	(27,440		)
Total segment operating loss	(30,468		)	(63,925		)	(125,449		)
Goodwill and intangible asset impairments	363,522			69,062			—
Transaction expenses	3,446			6,511			865
Loss (gain) on disposal of assets and other	(438		)	2,097			2,638
Operating loss	$	(396,998	)	$	(141,595	)	$	(128,952	)

Depreciation and amortization
Drilling & Downhole	$	31,985		$	38,463		$	41,231
Completions	33,943			17,631			13,145
Production	8,407			8,608			6,738
Corporate	173			427			646
Total depreciation and amortization	$	74,508		$	65,129		$	61,760

A summary of capital expenditures by reportable segment is as follows (in thousands):



	Year ended December 31,
Capital expenditures	2018		2017		2016
Drilling & Downhole	$	8,067	$	7,093	$	8,232
Completions	4,997		4,789		2,099
Production	4,877		6,855		1,953
Corporate	6,102		7,972		4,544
Total capital expenditures	$	24,043	$	26,709	$	16,828

A summary of consolidated assets by reportable segment is as follows (in thousands):



	Year ended December 31,
Assets	2018		2017		2016
Drilling & Downhole	$	663,414	$	1,057,378	$	1,145,426
Completions	872,731		790,255		317,016
Production	243,354		251,685		175,940
Corporate	50,153		95,910		196,810
Total assets	$	1,829,652	$	2,195,228	$	1,835,192

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

A summary of long-lived assets by country is as follows (in thousands):



	Year ended December 31,
Long-lived assets:	2018		2017		2016
United States	$	868,295	$	1,087,381	$	809,545
Europe & Africa	100,451		213,008		184,768
Canada	87,221		88,280		79,403
Asia-Pacific	984		7,984		7,855
Middle East	6,049		7,362		3,175
Latin America	635		832		730
Total long-lived assets	$	1,063,635	$	1,404,847	$	1,085,476

The following table presents our revenues disaggregated by geography based on shipping destination (in thousands):



	Year ended December 31,
	2018				2017				2016
Revenue:	$		%		$		%		$		%
United States	$	811,724	76.3	%	$	621,445	76.0	%	$	361,941	61.7	%
Canada	68,635		6.4	%	60,898		7.4	%	42,520		7.2	%
Europe & Africa	57,632		5.4	%	61,134		7.5	%	77,847		13.2	%
Middle East	54,541		5.1	%	25,634		3.1	%	25,975		4.4	%
Asia-Pacific	46,503		4.4	%	28,694		3.5	%	51,880		8.8	%
Latin America	25,184		2.4	%	20,815		2.5	%	27,472		4.7	%
Total Revenue	$	1,064,219	100.0	%	$	818,620	100.0	%	$	587,635	100.0	%

Revenue from External Customers by Products and Services

The following table presents our revenues disaggregated by product line (in thousands):



	Year ended December 31,
	2018					2017					2016
Revenue:	$			%		$			%		$			%
Drilling Technologies	$	178,260		16.6	%	$	168,816		20.6	%	$	135,051		23.3	%
Downhole Technologies	104,974			9.9	%	76,010			9.3	%	59,545			10.1	%
Subsea Technologies	50,785			4.8	%	65,697			8.0	%	88,414			15.0	%
Stimulation and Intervention	228,721			21.5	%	148,666			18.2	%	72,241			12.3	%
Coiled Tubing	144,386			13.6	%	35,516			4.3	%	—			—	%
Production Equipment	141,169			13.3	%	124,323			15.2	%	77,166			13.1	%
Valve Solutions	220,238			20.7	%	202,964			24.8	%	156,588			26.6	%
Eliminations	(4,314		)	(0.4	)%	(3,372		)	(0.4	)%	(1,370		)	(0.4	)%
Total revenue	$	1,064,219		100.0	%	$	818,620		100.0	%	$	587,635		100.0	%

Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed consolidating statements of income and comprehensive income



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2018
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	936,319		$	187,647		$	(59,747	)	$	1,064,219
Cost of sales	—			717,519			151,787			(61,459		)	807,847
Gross Profit	—			218,800			35,860			1,712			256,372
Operating Expenses
Selling, general and administrative expenses	—			231,492			55,488			—			286,980
Goodwill and intangible assets impairment	—			233,635			129,887			—			363,522
Transaction Expenses	—			2,926			520			—			3,446
Loss (gain) on disposal of assets and other	—			(1,274		)	836			—			(438		)
Total operating expenses	—			466,779			186,731			—			653,510
Earnings (loss) from equity investment	—			529			(389		)	—			140
Equity loss from affiliate, net of tax	(348,557		)	(118,601		)	—			467,158			—
Operating loss	(348,557		)	(366,051		)	(151,260		)	468,870			(396,998		)
Other expense (income)
Interest expense	32,307			158			67			—			32,532
Foreign exchange and other gains, net	—			(296		)	(5,974		)	—			(6,270		)
(Gain) loss on contribution of subsea rentals business	—			5,856			(39,362		)	—			(33,506		)
Total other (income) expense, net	32,307			5,718			(45,269		)	—			(7,244		)
Loss before income taxes	(380,864		)	(371,769		)	(105,991		)	468,870			(389,754		)
Income tax expense (benefit)	(6,784		)	(23,212		)	14,322			—			(15,674		)
Net loss	(374,080		)	(348,557		)	(120,313		)	468,870			(374,080		)

Other comprehensive income (loss), net of tax:
Net loss	(374,080		)	(348,557		)	(120,313		)	468,870			(374,080		)
Change in foreign currency translation, net of tax of $0	(24,752		)	(24,752		)	(24,752		)	49,504			(24,752		)
Gain on pension liability	1,489			1,489			1,489			(2,978		)	1,489
Comprehensive loss	$	(397,343	)	$	(371,820	)	$	(143,576	)	$	515,396		$	(397,343	)



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2017
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	703,409		$	182,417		$	(67,206	)	$	818,620
Cost of sales	—			550,931			145,743			(66,842		)	629,832
Gross Profit	—			152,478			36,674			(364		)	188,788
Operating Expenses
Selling, general and administrative expenses	—			205,672			48,041			—			253,713
Goodwill and intangible assets impairment	—			33,301			35,761			—			69,062
Transaction Expenses	—			6,521			(10		)	—			6,511
Loss on disposal of assets and other	—			1,981			116			—			2,097
Total operating expenses	—			247,475			83,908			—			331,383
Earnings from equity investment	—			1,000			—			—			1,000
Equity loss from affiliate, net of tax	(41,253		)	(53,682		)	—			94,935			—
Operating loss	(41,253		)	(147,679		)	(47,234		)	94,571			(141,595		)
Other expense (income)
Interest expense (income)	27,919			(569		)	(542		)	—			26,808
Foreign exchange and other losses (gains), net	—			(118		)	7,386			—			7,268
Gain realized on previously held equity investment	—			(120,392		)	—			—			(120,392		)
Total other (income) expense, net	27,919			(121,079		)	6,844			—			(86,316		)
Loss before income taxes	(69,172		)	(26,600		)	(54,078		)	94,571			(55,279		)
Income tax expense (benefit)	(9,772		)	14,653			(760		)	—			4,121
Net loss	(59,400		)	(41,253		)	(53,318		)	94,571			(59,400		)

Other comprehensive income (loss), net of tax:
Net loss	(59,400		)	(41,253		)	(53,318		)	94,571			(59,400		)
Change in foreign currency translation, net of tax of $0	36,163			36,163			36,163			(72,326		)	36,163
Gain on pension liability	107			107			107			(214		)	107
Comprehensive loss	$	(23,130	)	$	(4,983	)	$	(17,048	)	$	22,031		$	(23,130	)



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2016
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	436,785		$	198,684		$	(47,834	)	$	587,635
Cost of sales	—			375,509			161,190			(48,799		)	487,900
Gross Profit	—			61,276			37,494			965			99,735
Operating Expenses
Selling, general and administrative expenses	—			187,974			39,034			—			227,008
Transaction Expenses	—			825			40			—			865
Loss on disposal of assets and other	—			2,616			22			—			2,638
Total operating expenses	—			191,415			39,096			—			230,511
Earnings from equity investment	—			1,824			—			—			1,824
Equity earnings (loss) from affiliate, net of tax	(62,180		)	14,663			—			47,517			—
Operating loss	(62,180		)	(113,652		)	(1,602		)	48,482			(128,952		)
Other expense (income)
Interest expense (income)	27,480			(110		)	40			—			27,410
Foreign exchange and other gains, net	—			(5,264		)	(16,077		)	—			(21,341		)
Deferred loan costs written off	2,978			—			—			—			2,978
Total other (income) expense, net	30,458			(5,374		)	(16,037		)	—			9,047
Income (loss) before income taxes	(92,638		)	(108,278		)	14,435			48,482			(137,999		)
Income tax expense (benefit)	(10,660		)	(46,098		)	707			—			(56,051		)
Net income (loss)	(81,978		)	(62,180		)	13,728			48,482			(81,948		)
Less: Income attributable to noncontrolling interest	—			—			30			—			30
Net income (loss) attributable to common stockholders	(81,978		)	(62,180		)	13,698			48,482			(81,978		)

Other comprehensive income (loss), net of tax:
Net income (loss)	(81,978		)	(62,180		)	13,728			48,482			(81,948		)
Change in foreign currency translation, net of tax of $0	(45,722		)	(45,722		)	(45,722		)	91,444			(45,722		)
Loss on pension liability	(335		)	(335		)	(335		)	670			(335		)
Comprehensive loss	(128,035		)	(108,237		)	(32,329		)	140,596			(128,005		)
Less: comprehensive loss attributable to noncontrolling interests	—			—			(162		)	—			(162		)
Comprehensive loss attributable to common stockholders	$	(128,035	)	$	(108,237	)	$	(32,491	)	$	140,596		$	(128,167	)

Condensed consolidating balance sheets



Condensed consolidating balance sheets

	December 31, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	24,977	$	22,264		$	—		$	47,241
Accounts receivable—trade, net	—		177,986		28,069			—			206,055
Inventories, net	—		416,237		69,878			(7,092		)	479,023
Prepaid expenses and other current assets	—		23,585		92			—			23,677
Costs and estimated profits in excess of billings	—		6,202		2,957			—			9,159
Accrued revenue	—		—		862			—			862
Total current assets	—		648,987		124,122			(7,092		)	766,017
Property and equipment, net of accumulated depreciation	—		156,434		20,924			—			177,358
Deferred financing costs, net	2,071		—		—			—			2,071
Intangible assets	—		320,056		38,992			—			359,048
Goodwill	—		433,415		36,232			—			469,647
Investment in unconsolidated subsidiary	—		1,222		43,760			—			44,982
Deferred income taxes, net	—		1,170		64			—			1,234
Other long-term assets	—		4,194		5,101			—			9,295
Investment in affiliates	877,764		265,714		—			(1,143,478		)	—
Long-term advances to affiliates	674,220		—		98,532			(772,752		)	—
Total assets	$	1,554,055	$	1,831,192	$	367,727		$	(1,923,322	)	$	1,829,652
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,150	$	17		$	—		$	1,167
Accounts payable—trade	—		121,019		22,167			—			143,186
Accrued liabilities	6,873		40,913		33,246			—			81,032
Deferred revenue	—		4,742		3,593			—			8,335
Billings in excess of costs and profits recognized	—		84		3,126			—			3,210
Total current liabilities	6,873		167,908		62,149			—			236,930
Long-term debt, net of current portion	517,056		480		8		—	—			517,544
Deferred income taxes, net	—		—		15,299			—			15,299
Other long-term liabilities	—		12,288		17,465			—			29,753
Long-term payables to affiliates	—		772,752		—			(772,752		)	—
Total liabilities	523,929		953,428		94,921			(772,752		)	799,526
											—
Total equity	1,030,126		877,764		272,806			(1,150,570		)	1,030,126
Total liabilities and equity	$	1,554,055	$	1,831,192	$	367,727		$	(1,923,322	)	$	1,829,652



Condensed consolidating balance sheets

	December 31, 2017
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	73,981	$	41,235		$	—		$	115,216
Accounts receivable—trade, net	—		168,162		34,752			—			202,914
Inventories, net	—		374,527		77,454			(8,804		)	443,177
Prepaid expenses and other current assets	—		12,679		6,811			—			19,490
Costs and estimated profits in excess of billings	—		9,584		—			—			9,584
Total current assets	—		638,933		160,252			(8,804		)	790,381
Property and equipment, net of accumulated depreciation	—		167,407		29,874			—			197,281
Deferred financing costs, net	2,900		—		—			—			2,900
Intangible assets	—		390,752		52,312			—			443,064
Goodwill	—		599,677		155,568			—			755,245
Deferred income taxes, net	—		—		3,344			—			3,344
Other long-term assets	—		2,086		927			—			3,013
Investment in affiliates	1,250,593		418,799		—			(1,669,392		)	—
Long-term advances to affiliates	667,968		—		90,524			(758,492		)	—
Total assets	$	1,921,461	$	2,217,654	$	492,801		$	(2,436,688	)	$	2,195,228
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,048	$	108		$	—		$	1,156
Accounts payable—trade	—		117,158		20,526			—			137,684
Accrued liabilities	6,638		46,962		13,165			—			66,765
Deferred revenue	—		4,455		4,364			—			8,819
Billings in excess of costs and profits recognized	—		1,394		487			—			1,881
Total current liabilities	6,638		171,017		38,650			—			216,305
Long-term debt, net of current portion	505,807		908		35		—	—			506,750
Deferred income taxes, net	—		22,737		8,495			—			31,232
Other long-term liabilities	—		13,907		18,018			—			31,925
Long-term payables to affiliates	—		758,492		—			(758,492		)	—
Total liabilities	512,445		967,061		65,198			(758,492		)	786,212

Total equity	1,409,016		1,250,593		427,603			(1,678,196		)	1,409,016
Total liabilities and equity	$	1,921,461	$	2,217,654	$	492,801		$	(2,436,688	)	$	2,195,228

Condensed consolidating statements of cash flows



Condensed consolidating statements of cash flows

	Year ended December 31, 2018
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	10,461		$	(76	)	$	15,972		$	(23,950	)	$	2,407
Cash flows from investing activities
Capital expenditures for property and equipment	—			(20,288		)	(3,755		)	—			(24,043		)
Acquisition of businesses, net of cash acquired	—			(60,622		)	—			—			(60,622		)
Investment in unconsolidated subsidiary	—			—			—			—			—
Proceeds from sale of business, property and equipment	—			5,192			4,066			—			9,258
Long-term loans and advances to affiliates	(18,130		)	9,690			—			8,440			—
Net cash provided by (used in) investing activities	(18,130		)	(66,028		)	311			8,440			(75,407		)
Cash flows from financing activities
Borrowings of debt	221,980			—			—			—			221,980
Repayments of debt	(211,783		)	—			—			—			(211,783		)
Repurchases of stock	(2,777		)	—			—			—			(2,777		)
Proceeds from stock issuance	249			—			—			—			249
Payment of capital lease obligations	—			(1,030		)	(117		)	—			(1,147		)
Long-term loans and advances to affiliates	—			18,130			(9,690		)	(8,440		)	—
Dividend paid to affiliates	—			—			(23,950		)	23,950			—
Net cash provided by (used in) financing activities	7,669			17,100			(33,757		)	15,510			6,522

Effect of exchange rate changes on cash	—			—			(1,497		)	—			(1,497		)

Net decrease in cash, cash equivalents and restricted cash	—			(49,004		)	(18,971		)	—			(67,975		)
Cash, cash equivalents and restricted cash at beginning of period	—			73,981			41,235			—			115,216
Cash, cash equivalents and restricted cash at end of period	$	—		$	24,977		$	22,264		$	—		$	47,241



Condensed consolidating statements of cash flows

	Year ended December 31, 2017
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(15,718	)	$	483		$	3,702		$	(28,500	)	$	(40,033	)
Cash flows from investing activities
Capital expenditures for property and equipment	—			(20,499		)	(6,210		)	—			(26,709		)
Acquisition of businesses, net of cash acquired	—			(157,297		)	(4,892		)	—			(162,189		)
Investment in unconsolidated subsidiary	—			(1,041		)	—			—			(1,041		)
Proceeds from sale of property and equipment	—			2,038			(67		)	—			1,971
Long-term loans and advances to affiliates	(86,097		)	22,072			—			64,025			—
Net cash used in investing activities	(86,097		)	(154,727		)	(11,169		)	64,025			(187,968		)
Cash flows from financing activities
Borrowings of debt	107,431			—			—			—			107,431
Repurchases of stock	(4,742		)	—			—			—			(4,742		)
Proceeds from stock issuance	1,491			—			—			—			1,491
Payment of capital lease obligations	—			(1,147		)	(40		)	—			(1,187		)
Deferred financing costs	(2,430		)	—			—			—			(2,430		)
Long-term loans and advances to affiliates	—			86,097			(22,072		)	(64,025		)	—
Dividend paid to affiliates	—			—			(28,500		)	28,500			—
Net cash provided by (used in) financing activities	101,750			84,950			(50,612		)	(35,525		)	100,563

Effect of exchange rate changes on cash	—			—			8,232			—			8,232

Net decrease in cash, cash equivalents and restricted cash	(65		)	(69,294		)	(49,847		)	—			(119,206		)
Cash, cash equivalents and restricted cash at beginning of period	65			143,275			91,082			—			234,422
Cash, cash equivalents and restricted cash at end of period	$	—		$	73,981		$	41,235		$	—		$	115,216



Condensed consolidating statements of cash flows

	Year ended December 31, 2016
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(16,882	)	$	31,055		$	73,772		$	(23,203	)	$	64,742
Cash flows from investing activities
Capital expenditures for property and equipment	—			(12,033		)	(4,795		)	—			(16,828		)
Acquisition of businesses, net of cash acquired	—			(4,072		)	—			—			(4,072		)
Proceeds from sale of property and equipment	—			9,442			321			—			9,763
Long-term loans and advances to affiliates	(69,340		)	12,912			—			56,428			—
Net cash provided by (used in) investing activities	(69,340		)	6,249			(4,474		)	56,428			(11,137		)
Cash flows from financing activities
Repurchases of stock	(623		)	—			—			—			(623		)
Proceeds from stock issuance	87,676			—			—			—			87,676
Payment of capital lease obligations	—			(253		)	161			—			(92		)
Deferred financing costs	(766		)	—			—			—			(766		)
Long-term loans and advances to affiliates	—			69,340			(12,912		)	(56,428		)	—
Dividend paid to affiliates	—			—			(23,203		)	23,203			—
Net cash provided by (used in) financing activities	86,287			69,087			(35,954		)	(33,225		)	86,195

Effect of exchange rate changes on cash	—			—			(14,627		)	—			(14,627		)

Net increase in cash, cash equivalents and restricted cash	65			106,391			18,717			—			125,173
Cash, cash equivalents and restricted cash at beginning of period	—			36,884			72,365			—			109,249
Cash, cash equivalents and restricted cash at end of period	$	65		$	143,275		$	91,082		$	—		$	234,422

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	2018
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	250,231		$	274,003		$	267,037		$	272,948
Cost of sales	182,944			201,334			192,496			231,073
Gross profit	67,287			72,669			74,541			41,875
Total operating expenses (1)	73,030			84,721			72,764			422,995
Earnings (loss) from equity investment	(963		)	350			659			94
Operating income (loss)	(6,706		)	(11,702		)	2,436			(381,026		)
Total other expense (income), net (2)	(21,868		)	2,001			6,598			6,025
Income (loss) before income taxes	15,162			(13,703		)	(4,162		)	(387,051		)
Income tax expense (benefit)	(12,904		)	1,646			(1,108		)	(3,308		)
Net income (loss)	28,066			(15,349		)	(3,054		)	(383,743		)

Weighted average shares outstanding
Basic	108,423			108,714			108,856			109,082
Diluted	110,857			108,714			108,856			109,082
Earnings (loss) per share
Basic	$	0.26		$	(0.14	)	$	(0.03	)	$	(3.52	)
Diluted	$	0.25		$	(0.14	)	$	(0.03	)	$	(3.52	)


(1)	Total operating expenses included $14.5 million of intangible asset impairments for the Subsea and Downhole product lines in Q2, $298.8 million of goodwill impairment charges in Q4 and $50.2 million of intangible asset impairments in Q4. See Note 7 Goodwill and Intangible Assets for further information related to these charges.


(2)	Total other expenses included a $33.5 million gain on contribution of our subsea rentals business in Q1. See Note 4 Acquisitions & Dispositions for further information related to this gain.



	2017
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	171,096		$	201,115		$	198,709		$	247,700
Cost of sales	132,117			151,860			151,150			194,705
Gross profit	38,979			49,255			47,559			52,995
Total operating expenses (1)	61,056			131,779			64,839			73,709
Earnings (loss) from equity investment	1,462			2,568			3,361			(6,391		)
Operating loss	(20,615		)	(79,956		)	(13,919		)	(27,105		)
Total other expense (income), net (2)	8,126			8,987			8,726			(112,155		)
Income (loss) before income taxes	(28,741		)	(88,943		)	(22,645		)	85,050
Income tax expense (benefit)	(12,973		)	(11,070		)	(7,817		)	35,981
Net income (loss)	(15,768		)	(77,873		)	(14,828		)	49,069

Weighted average shares outstanding
Basic	95,860			96,170			96,275			105,947
Diluted	95,860			96,170			96,275			108,581
Earnings (loss) per share
Basic	$	(0.16	)	$	(0.81	)	$	(0.15	)	$	0.46
Diluted	$	(0.16	)	$	(0.81	)	$	(0.15	)	$	0.45


(1)	Total operating expenses in Q2 included a $68.0 million goodwill impairment for our Subsea reporting unit. See Note 7 Goodwill and Intangible Assets for further information related to this charges.


(2)	Total other expenses in Q4 included a $120.4 million gain realized on our previously held equity investment. See Note 4 Acquisitions & Dispositions for further information related to this gain.

Summary of Significant Accounting Policies (Narrative) (Details)	3 Months Ended				12 Months Ended
	Dec. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2018 USD ($) reporting_unit	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jan. 01, 2019 USD ($)	Jan. 03, 2018	Jan. 01, 2018 USD ($)
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets							$ 4,300,000
Number of reporting units \| reporting_unit					7
Impairment	$ 298,800,000				$ 298,789,000	$ 68,004,000	0
Goodwill	469,647,000		$ 755,245,000		469,647,000	755,245,000	652,743,000
Impairment of intangible assets	$ 50,200,000	$ 14,500,000			$ 64,700,000	1,100,000	0
Percent of revenue from goods and services transferred at point in time					97.00%
Percent of revenue from goods and services transferred over time					3.00%
U.S. tax reform expense (benefit)			$ 10,100,000		$ (15,604,000)	$ 10,138,000	$ 0
Cumulative effect adjustment to retained earnings										$ 1,006,000
Subsea Technologies
Property, Plant and Equipment [Line Items]
Impairment				$ 68,000,000
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment					3 years
Estimated useful life, intangible assets					3 years
Minimum \| Rental equipment
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment					3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment					30 years
Estimated useful life, intangible assets					17 years
Maximum \| Rental equipment
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment					10 years
Retained earnings
Property, Plant and Equipment [Line Items]
Cumulative effect adjustment to retained earnings										1,006,000
Accounting Standards Update 2016-16 \| Retained earnings
Property, Plant and Equipment [Line Items]
Cumulative effect adjustment to retained earnings										$ 1,000,000
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations \| Ashtead Technology
Property, Plant and Equipment [Line Items]
Equity interest received in sale of business									40.00%
Subsequent Event \| Scenario, Forecast \| Accounting Standards Update 2016-02 \| Minimum
Property, Plant and Equipment [Line Items]
Right of use lease assets								$ 60,000,000
Lease liability								60,000,000
Subsequent Event \| Scenario, Forecast \| Accounting Standards Update 2016-02 \| Maximum
Property, Plant and Equipment [Line Items]
Right of use lease assets								70,000,000
Lease liability								$ 70,000,000

Summary of Significant Accounting Policies (Allowance for doubtful accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 5,795	$ 3,331	$ 8,119
Charged to expense	3,342	2,903	485
Deductions or other	(1,705)	(439)	(5,273)
Balance at end of period	$ 7,432	$ 5,795	$ 3,331

Summary of Significant Accounting Policies (Change in warranty liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 3,620	$ 3,224	$ 5,697
Charged to expense	1,487	3,172	4,031
Deductions or other	2,237	2,776	6,504
Balance at end of period	$ 2,870	$ 3,620	$ 3,224

Revenues (Schedule of Impacts of Adopting Topic 606) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable—trade, net	$ 206,055	$ 199,679	$ 202,914
Accrued revenue	862	3,235	0
As Reported
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable—trade, net	206,917		202,914
Accrued revenue	0		$ 0
Adjustments due to ASC 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable—trade, net	(862)	(3,235)
Accrued revenue	$ 862	$ 3,235

Revenues (Narrative) (Details) $ in Thousands	12 Months Ended
Revenues (Narrative) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Revenue from Contract with Customer [Abstract]
Increase (decrease) in contract with customer assets	$ (2,798)
Increase (decrease) in contract with customer liabilities	845
Revenue recognized	$ 7,700

Revenues (Schedule of Changes in Contract Asset and Contract Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Contract with Customer, Asset, Net [Abstract]
Accrued revenue	$ 862	$ 3,235	$ 0
Costs and estimated profits in excess of billings	9,159	9,584	9,584
Contract assets	10,021	12,819
Increase (decrease) in contract with customer assets	$ (2,798)
Increase (Decrease) in contract with customer assets, percent	(22.00%)
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 8,335	8,819	8,819
Billings in excess of costs and profits recognized	3,210	1,881	$ 1,881
Contract liabilities	11,545	$ 10,700
Increase (decrease) in contract with customer liabilities	$ 845
Increase (Decrease) in contract with customer liabilities, percent	8.00%

Acquisitions & Dispositions (Narrative) (Details) $ in Thousands, £ in Millions					3 Months Ended								12 Months Ended			15 Months Ended
	Oct. 05, 2018 USD ($)	Jul. 02, 2018 USD ($)	Oct. 02, 2017 USD ($)	Jan. 09, 2017 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 USD ($)	Jan. 03, 2018 USD ($)	Jan. 03, 2018 GBP (£)	Jul. 03, 2017 USD ($)
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired													$ 60,622	$ 162,189	$ 4,072
Gain on contribution of subsea rentals business								$ 33,500					33,506	0	0
Net revenues					$ 272,948	$ 267,037	$ 274,003	250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	1,064,219	818,620	587,635
Net income													(374,080)	(59,400)	(81,978)
Transaction expenses													3,446	6,511	865
Gain realized on previously held equity investment														120,400
Estimated income tax benefit													(81,849)	(19,348)	(48,300)
Equity interests issued and issuable													$ 125
Pro Forma
Business Acquisition [Line Items]
Estimated income tax benefit														45,000	$ 12,000
Houston Global Heat Transfer LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Acquisition of businesses, net of cash acquired	$ 57,300
ESP Completion Technologies LLC
Business Acquisition [Line Items]
Cash		$ 8,000
Global Tubing LLC
Business Acquisition [Line Items]
Cash			$ 31,764
Total consideration transfered			290,320
Net revenues																$ 35,500
Net income																$ 3,800
Transaction expenses														$ 4,500
Equity interests issued and issuable			$ 173,472
Multilift
Business Acquisition [Line Items]
Net assets acquired																			$ 39,191
Innovative Valve Components and Cooper Valves, LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired				100.00%
Total consideration transfered				$ 14,000
Equity interests issued and issuable				$ 4,500
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Cash consideration received in sale of business \| £																		£ 2.7
Note receivable received as consideration in sale of business \| £																		£ 3.0
Gain on contribution of subsea rentals business								$ 33,500
Subsea rental assets carry value																	$ 18,100
Ashtead Technology \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Equity interest received in sale of business																	40.00%	40.00%
Equity ownership interest fair value																	$ 43,800

Acquisitions & Dispositions (Purchase Price Allocation) (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 05, 2018	Oct. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 03, 2017
Business Acquisition [Line Items]
Non-tax-deductible goodwill			$ 469,647	$ 755,245	$ 652,743
Assets			1,829,652	2,195,228	1,835,192
Net assets acquired, net of cash acquired			$ 60,622	$ 162,189	$ 4,072
Houston Global Heat Transfer LLC
Business Acquisition [Line Items]
Current assets, net of cash acquired	$ 18,655
Non-current assets	238
Property and equipment	2,408
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,559
Current liabilities	(12,633)
Long term liabilities	(2,355)
Net assets acquired, net of cash acquired	$ 57,300
Global Tubing LLC
Business Acquisition [Line Items]
Accounts Receivable		$ 28,044
Inventory		40,005
Other current assets		3,141
Property and equipment		51,585
Intangible assets (primarily customer relationships)		228,190
Tax-deductible goodwill		69,423
Non-tax-deductible goodwill		64,491
Current liabilities		(16,005)
Long term liabilities		(54)
Total net assets		468,820
Fair value of equity method investment previously held		(178,500)
Net assets acquired		$ 290,320
Multilift
Business Acquisition [Line Items]
Current assets, net of cash acquired						$ 3,763
Property and equipment						96
Intangible assets (primarily customer relationships)						17,090
Tax-deductible goodwill						16,472
Non-tax-deductible goodwill						3,099
Current liabilities						(1,329)
Net assets acquired						$ 39,191

Acquisitions & Dispositions (Pro Forma) (Details) - Global Tubing LLC - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales	$ 901,856	$ 659,108
Net loss attributable to common stockholders	$ (125,204)	$ (101,173)

Acquisitions & Dispositions (Stock Consideration in Acquisitions) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Oct. 02, 2017	Dec. 31, 2018
Business Acquisition [Line Items]
Contingent shares issued for acquisition of Cooper		$ 125
Global Tubing LLC
Business Acquisition [Line Items]
Forum Energy Technologies' closing stock price on October 2, 2017 (in dollars per share)	$ 15.10
Number of shares issued in acquisition (in shares)	11,488,208
Contingent shares issued for acquisition of Cooper	$ 173,472
Cash	31,764
Repayment of Global Tubing debt at acquisition	85,084
Total Consideration paid for the acquisition	$ 290,320

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials and parts	$ 212,526	$ 160,093
Work in process	39,494	51,941
Finished goods	302,590	305,461
Gross inventories	554,610	517,495
Inventory reserve	(75,587)	(74,318)	$ (68,352)	$ (77,888)
Inventories	$ 479,023	$ 443,177

Inventories (Inventory reserve) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory Valuation Reserves Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 74,318	$ 68,352	$ 77,888
Charged to expense	36,606	14,620	25,537
Deductions or other	(35,337)	(8,654)	(35,073)
Balance at end of period	$ 75,587	$ 74,318	$ 68,352

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 352,293	$ 343,569
Less: accumulated depreciation	(180,717)	(160,787)
Property & equipment, net	171,576	182,782
Property & equipment, net	177,358	197,281
Depreciation expense	$ 33,148	34,401	$ 35,636
Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Land
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 9,755	12,408
Buildings and leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 103,761	90,909
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Computer equipment
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 54,721	42,074
Computer equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Computer equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 162,110	169,203
Machinery & equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Furniture & fixtures
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 6,631	6,338
Furniture & fixtures \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Furniture & fixtures \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Vehicles
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 6,160	8,048
Vehicles \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Vehicles \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 9,155	14,589
Rental equipment
Property, Plant and Equipment, Net [Abstract]
Rental equipment	9,535	70,679
Less: accumulated depreciation	(3,753)	(56,180)
Property & equipment, net	$ 5,782	$ 14,499
Rental equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Rental equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill beginning balance		$ 755,245,000	$ 755,245,000	$ 652,743,000
Acquisitions, net of dispositions			22,312,000	155,080,000
Impairment	$ (298,800,000)		(298,789,000)	(68,004,000)	$ 0
Impact of non-U.S. local currency translation			(9,121,000)	15,426,000
Goodwill ending balance	469,647,000		469,647,000	755,245,000	652,743,000
Operating Segments \| Drilling & Downhole
Goodwill [Roll Forward]
Goodwill beginning balance		494,983,000	494,983,000	529,901,000
Acquisitions, net of dispositions			1,753,000	19,571,000
Impairment			(298,789,000)	(68,004,000)
Impact of non-U.S. local currency translation			(6,796,000)	13,515,000
Goodwill ending balance	191,151,000		191,151,000	494,983,000	529,901,000
Operating Segments \| Completions
Goodwill [Roll Forward]
Goodwill beginning balance		240,816,000	240,816,000	105,198,000
Acquisitions, net of dispositions		20,559,000		133,914,000
Impairment			0	0
Impact of non-U.S. local currency translation			(2,095,000)	1,704,000
Goodwill ending balance	259,280,000		259,280,000	240,816,000	105,198,000
Operating Segments \| Production
Goodwill [Roll Forward]
Goodwill beginning balance		$ 19,446,000	19,446,000	17,644,000
Acquisitions, net of dispositions			0	1,595,000
Impairment			0	0
Impact of non-U.S. local currency translation			(230,000)	207,000
Goodwill ending balance	$ 19,216,000		$ 19,216,000	$ 19,446,000	$ 17,644,000

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Impairment	$ 298,800,000			$ 298,789,000	$ 68,004,000	$ 0
Goodwill	469,647,000			469,647,000	755,245,000	652,743,000
Accumulated impairment loss on goodwill	535,600,000			535,600,000	236,800,000	168,800,000
Impairment of intangible assets	50,200,000	$ 14,500,000		64,700,000	1,100,000	0
Amortization of intangible assets				41,360,000	30,728,000	$ 26,124,000
Drilling Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment	245,400,000
Goodwill	0			0
Downhole Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment	53,400,000
Goodwill	$ 191,100,000			$ 191,100,000
Percent above carrying value (less than)	30.00%			30.00%
Stimulation and Intervention
Finite-Lived Intangible Assets [Line Items]
Percent above carrying value (less than)	25.00%			25.00%
Coiled Tubing
Finite-Lived Intangible Assets [Line Items]
Percent above carrying value (less than)	25.00%			25.00%
Subsea Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment			$ 68,000,000
Goodwill	$ 0			$ 0
Subsea And Downhole
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets					$ 1,100,000

Goodwill and Intangible Assets (Finite-Lived and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (169,109)	$ (199,853)
Intangible Assets Total, Gross carrying amount	528,157	642,917
Intangible Assets Total, Net amortizable intangibles	359,048	443,064
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	337,546	428,544
Accumulated amortization	(110,228)	(138,566)
Net amortizable intangibles	227,318	289,978
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	104,394	110,910
Accumulated amortization	(17,148)	(16,733)
Net amortizable intangibles	87,246	94,177
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,245	6,625
Accumulated amortization	(5,600)	(6,041)
Net amortizable intangibles	645	584
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	47,493	64,359
Accumulated amortization	(18,107)	(22,090)
Net amortizable intangibles	29,386	42,269
Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	22,160	22,160
Accumulated amortization	(17,602)	(16,338)
Net amortizable intangibles	4,558	5,822
Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	10,319	10,319
Accumulated amortization	(424)	(85)
Net amortizable intangibles	$ 9,895	$ 10,234
Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	17 years
Maximum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years
Maximum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	17 years	17 years
Maximum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	6 years	6 years
Maximum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years
Maximum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years
Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	3 years
Minimum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	4 years	4 years
Minimum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	5 years	5 years
Minimum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	3 years	3 years
Minimum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	10 years	10 years
Minimum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	8 years	8 years
Minimum \| Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years

Goodwill and Intangible Assets (Schedule of Amortization Expense) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Estimated future amortization expense
2019	$ 34,591
2020	33,864
2021	32,974
2022	31,196
2023	$ 28,994

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 518,711	$ 507,906
Unamortized debt premium	1,176	1,583
Debt issuance cost	(3,121)	(4,222)
Less: current maturities	(1,167)	(1,156)
Long-term debt	517,544	506,750
Senior unsecured notes due October 2021
Debt Instrument [Line Items]
Total debt	400,000	400,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Total debt	119,000	108,446
Other debt
Debt Instrument [Line Items]
Total debt	$ 1,656	$ 2,099

Debt (Narrative) (Details)		9 Months Ended	12 Months Ended
Debt (Narrative) (Details)	Nov. 30, 2013 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Oct. 31, 2017 USD ($)	Oct. 30, 2017 USD ($)	Dec. 12, 2016 USD ($)	Dec. 11, 2016 USD ($)	Oct. 31, 2013 USD ($)
Debt Instrument [Line Items]
Debt instrument, carrying value			$ 518,711,000	$ 507,906,000
Amortization of deferred loan costs			1,900,000	1,700,000	$ 1,900,000
Deferred loan costs written off			0	0	$ 2,978,000
2017 Credit Facility
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage		0.375%
Revolving Credit Facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Line of credit facility, accordion feature, increase limit							$ 100,000,000
Revolving Credit Facility \| 2017 Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Revolving Credit Facility \| 2017 Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Revolving Credit Facility \| 2017 Credit Facility \| CDOR Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Debt Instrument, Redemption, Period Four \| Revolving Credit Facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Debt Instrument, Redemption, Period Five \| Revolving Credit Facility \| 2017 Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Debt Instrument, Redemption, Period Five \| Revolving Credit Facility \| 2017 Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage		0.375%
Senior unsecured notes due October 2021
Debt Instrument [Line Items]
Debt, face amount	$ 100,000,000									$ 300,000,000
Debt instrument, stated interest rate										6.25%
Debt instrument, issuance price of par, percentage	103.25%
Proceeds from issuance of senior debt	$ 394,000,000
Debt instrument, carrying value			$ 400,000,000	400,000,000
Senior unsecured notes due October 2021 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percentage			101.563%
Senior unsecured notes due October 2021 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price percentage			100.00%
Senior secured revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 20,000,000
Debt instrument, carrying value			$ 119,000,000	$ 108,446,000
Percentage of borrowing base		10.00%
Senior secured revolving credit facility \| Minimum
Debt Instrument [Line Items]
Springing fixed charge coverage ratio		1
Fixed charge coverage ratio consecutive days threshold		60 days
Senior secured revolving credit facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity			299,400,000
Debt instrument, carrying value		$ 119,000,000
Senior secured revolving credit facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity							140,000,000
Maximum borrowing capacity						$ 300,000,000		$ 140,000,000	$ 600,000,000
Deferred financing costs						$ 2,400,000
Senior secured revolving credit facility \| Foreign Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity							25,000,000
Senior secured revolving credit facility \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity							30,000,000
Senior secured revolving credit facility \| Letter of Credit \| 2017 Credit Facility
Debt Instrument [Line Items]
Outstanding letters of credit			13,100,000
Remaining borrowing capacity			$ 167,300,000
Senior secured revolving credit facility \| Letter of Credit \| Canadian Subsidiaries
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 3,000,000
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Senior secured debt to adjusted EBITDA ratio		4
Debt, weighted average interest rate (percentage)			4.08%
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Minimum leverage ratio		0.02
Senior secured debt to adjusted EBITDA ratio		0.015
Percentage of borrowing base		50.00%
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Minimum leverage ratio		0.0175
Senior secured debt to adjusted EBITDA ratio		0.0225

Debt (Schedule of Future Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2019	$ 1,167
2020	489
2021	519,000
2022	0
2023	0
Thereafter	0
Total future payment	520,656
Add: Unamortized debt premium	1,176	$ 1,583
Less: Debt issuance cost	(3,121)	(4,222)
Total debt	$ 518,711	$ 507,906

Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
U.S.									$ (285,141)	$ (3,015)	$ (155,058)
Non-U.S.									(104,613)	(52,264)	17,059
Loss before income taxes	$ (387,051)	$ (4,162)	$ (13,703)	$ 15,162	$ 85,050	$ (22,645)	$ (88,943)	$ (28,741)	$ (389,754)	$ (55,279)	$ (137,999)

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current
U.S. Federal and state									$ (6,932)	$ (1,426)	$ (38,589)
Non-U.S.									4,810	5,398	6,956
Total current									(2,122)	3,972	(31,633)
Deferred
U.S. Federal and state									(21,467)	6,415	(18,290)
Non-U.S.									7,915	(6,266)	(6,128)
Total deferred									(13,552)	149	(24,418)
Provision (benefit) for income taxes	$ (3,308)	$ (1,108)	$ 1,646	$ (12,904)	$ 35,981	$ (7,817)	$ (11,070)	$ (12,973)	$ (15,674)	$ 4,121	$ (56,051)

Income Taxes (Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income tax expense at the statutory rate									$ (81,849)	$ (19,348)	$ (48,300)
State taxes, net of federal tax benefit									(2,564)	(294)	(1,425)
Non-U.S. operations									(10,166)	6,337	(5,791)
Domestic incentives									(286)	(254)	(170)
Prior year federal, non-U.S. and state tax									(2,880)	(1,283)	(777)
Nondeductible expenses									502	644	345
Goodwill impairment									46,051	14,731	0
Global Tubing acquisition									0	(9,160)	0
U.S. tax reform					$ 10,100				(15,604)	10,138	0
Valuation allowance	$ 50,000								50,005	4,523	0
Other									1,117	(1,913)	67
Provision (benefit) for income taxes	$ (3,308)	$ (1,108)	$ 1,646	$ (12,904)	$ 35,981	$ (7,817)	$ (11,070)	$ (12,973)	$ (15,674)	$ 4,121	$ (56,051)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax expense at the statutory rate									(21.00%)	(35.00%)	(35.00%)
State taxes, net of federal tax benefit									(0.70%)	(0.50%)	(1.00%)
Non-U.S. operations									(2.60%)	11.50%	(4.20%)
Domestic incentives									(0.10%)	(0.50%)	(0.10%)
Prior year federal, non-U.S. and state tax									(0.70%)	(2.30%)	(0.60%)
Nondeductible expenses									0.10%	1.20%	0.30%
Goodwill impairment									11.80%	26.60%	(0.00%)
Global Tubing acquisition									(0.00%)	(16.60%)	(0.00%)
U.S. tax reform									(4.00%)	18.30%	(0.00%)
Valuation allowance									12.80%	8.20%	(0.00%)
Other									0.40%	(3.40%)	(0.00%)
Income tax expense (benefit)									(4.00%)	7.50%	(40.60%)

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss and Tax Credit Carryforwards [Line Items]
Effective income tax rate			4.00%	(7.50%)	40.60%
U.S. tax reform expense (benefit)		$ 10,100	$ (15,604)	$ 10,138	$ 0
Goodwill impairment			46,051	14,731	0
Valuation allowance	$ 50,000		50,005	4,523	$ 0
Provisional estimate related to deemed repatriation		27,700		27,700
Net tax benefit related to U.S. tax reform			(5,500)
Domestic operating loss carryforwards	193,900		193,900
State operating loss carryforwards	6,200		6,200
Operating loss carryforward subject to expiration	151,700		151,700
Operating loss carryforwards not subject to expiration	48,400		48,400
Foreign operating loss carryforwards	113,500		113,500
Unrecognized tax benefits	13,254	14,768	13,254	14,768
Decrease in unrecognized tax benefits is reasonably possible	2,600		2,600
Accrued interest and penalties	300	$ 600	300	600
Non-US
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance			18,400
U.S.
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance	31,600
Tax benefit from measurement of deferred tax liabilities				$ 17,600
Subsea Technologies
Operating Loss and Tax Credit Carryforwards [Line Items]
Goodwill impairment			$ 46,100
U.K. \| Non-US
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance	3,600
Federal Ministry Of Finance, Germany And Inland Revenue Service, Singapore \| Non-US
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance	$ 14,800

Income Taxes (Deferred Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets
Reserves and accruals	$ 7,259	$ 5,932
Inventory	18,694	20,836
Stock awards	5,637	6,235
Net operating loss and other tax carryforwards	66,098	31,164
Other	549	1,419
Total deferred tax assets	98,237	65,586
Valuation allowance	(54,441)	(4,523)
Total deferred tax assets	43,796	61,063
Deferred tax liabilities
Property and equipment	(9,565)	(12,172)
Goodwill and intangible assets	(42,502)	(76,454)
Investment in unconsolidated subsidiary	(5,402)	0
Prepaid expenses and other	(392)	(325)
Total deferred tax liabilities	(57,861)	(88,951)
Net deferred tax liabilities	$ (14,065)	$ (27,888)

Income Taxes (Uncertain Tax Positions) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 14,768
Additional based on tax positions related to current year	1,485
Lapse of statute of limitations	(2,999)
Ending Balance	$ 13,254

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 518,711	$ 507,906
Senior secured revolving credit facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	119,000	108,446
Senior unsecured notes due October 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	400,000	400,000
Senior unsecured notes due October 2021 \| Significant other observable inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	398,100	397,400
Debt instrument, fair value	$ 362,000	$ 402,000

Commitments and Contingencies (Details)	1 Months Ended	12 Months Ended					24 Months Ended	60 Months Ended	96 Months Ended
Commitments and Contingencies (Details)	Jan. 31, 2011 insurer	Dec. 31, 2018 USD ($) defendant case	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2018 USD ($) case	Dec. 31, 2018 USD ($) case	Dec. 31, 2018 USD ($) case
Loss Contingencies [Line Items]
Rent expense		$ 18,300,000	$ 19,300,000	$ 18,600,000
Amount of letters of credit		$ 13,600,000					$ 13,600,000	$ 13,600,000	$ 13,600,000
Asbestos Litigation
Loss Contingencies [Line Items]
Number of defendants \| defendant		40
Asbestos Litigation
Loss Contingencies [Line Items]
Annual out-of-pocket costs (less than)			$ 200,000	$ 200,000	$ 200,000	$ 200,000		$ 200,000
New claims filed each year (fewer than) \| case		25
Pending lawsuits (fewer than) \| case		150					150	150	150
Face amount of insurance coverage per occurrence (over)		$ 17,000,000					$ 17,000,000	$ 17,000,000	$ 17,000,000
Aggregate primary insurance coverage (over)		23,000,000					23,000,000	23,000,000	23,000,000
Face amount of excess coverage (over)		$ 950,000,000					950,000,000	$ 950,000,000	950,000,000
Number of primary insurers under settlement agreement \| insurer	7
Percentage of costs of handling and settling each claim covered by insurance	80.00%
Insurers
Loss Contingencies [Line Items]
Payments for legal settlements							$ 40,000		$ 2,000,000

Commitments and Contingencies (Operating Leases) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	$ 17,536
2020	14,826
2021	12,800
2022	11,202
2023	5,701
Thereafter	15,069
Total future operating lease payments	$ 77,134

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net loss attributable to common stockholders									$ (374,080)	$ (59,400)	$ (81,978)
Basic - weighted average shares outstanding (in shares)	109,082	108,856	108,714	108,423	105,947	96,275	96,170	95,860	108,771	98,689	91,226
Dilutive effect of stock options and restricted stock (in shares)									0	0	0
Diluted - weighted average shares outstanding (in shares)	109,082	108,856	108,714	110,857	108,581	96,275	96,170	95,860	108,771	98,689	91,226
Loss per share
Basic (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.26	$ 0.46	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)
Diluted (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.25	$ 0.45	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

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

+ References + Details

Stockholders' Equity and Employee Benefit Plans (Equity Offering) (Details) - USD ($) $ in Millions			1 Months Ended
	Oct. 02, 2017	Jan. 09, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Stock issued during the period (in shares)			4,000,000
Cash raised from equity offering			$ 85.1
Innovative Valve Components and Cooper Valves, LLC
Business Acquisition [Line Items]
Number of shares issued in acquisition (in shares)		196,249
Percentage of voting interests acquired		100.00%
Global Tubing LLC
Business Acquisition [Line Items]
Number of shares issued in acquisition (in shares)	11,488,208

Stockholders' Equity and Employee Benefit Plans (Employee Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Employee contribution benefit plan expense	$ 6.2	$ 5.4	$ 1.4
Allowable purchase interval duration	6 months
Price per share to fair market value	85.00%

Stockholders' Equity and Employee Benefit Plans (Stock Repurchases) (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2014	Oct. 31, 2014
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Shares authorized for repurchase					$ 150,000,000
Treasury stock (in shares)				4.5
Cost of treasury stock repurchased	$ 141,000	$ 352,000	$ 623,000	$ 100,200,000

Stock Based Compensation (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 17, 2016	Aug. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)					18,500,000.0
Stock based compensation expense	$ 19,900,000	$ 20,300,000	$ 20,500,000
Total compensation cost not yet recognized	$ 27,000,000
Total compensation cost not yet recognized, period for recognition	2 years
Intrinsic value, options outstanding	$ 0	0
Intrinsic value of options exercised	$ 200,000	$ 1,600,000	$ 1,300,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option term	10 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 12.00	$ 19.00	$ 10.28
Fair value of shares vested	$ 1,700,000	$ 2,300,000	$ 3,900,000
Granted (in shares)	63,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 10.54	$ 17.97	$ 9.74
Fair value of shares vested	$ 14,200,000	$ 10,000,000	$ 8,400,000
Granted (in shares)	1,507,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	160,010
Performance Shares \| Period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period	1 year
Performance Shares \| Period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period	2 years
Performance Shares \| Period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period	3 years
Minimum \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares for award settlement (in shares)	0
Maximum \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Maximum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares for award settlement (in shares)	2
2016 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				5,700,000.0
Number of shares available for grant (in shares)	2,800,000

Stock Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Number of shares [Roll Forward]
Number of shares, beginning balance (in shares)	5,817
Number of shares, granted (in shares)	505
Number of shares, exercised (in shares)	(35)
Number of shares, forfeited/expired (in shares)	(547)
Number of shares, ending balance (in shares)	5,740	5,817
Number of shares, options exercisable (in shares)	4,850
Weighted average exercise price [Roll Forward]
Weighted average exercise price, beginning balance (in dollars per share)	$ 12.66
Weighted average exercise price, granted (in dollars per share)	12.00
Weighted average exercise price, exercised (in dollars per share)	7.11
Weighted average exercise price, forfeited/expired (in dollars per share)	15.22
Weighted average exercise price, ending balance (in dollars per share)	12.39	$ 12.66
Weighted average exercise price, options exercisable (in dollars per share)	$ 12.25
Remaining weighted average contractual life, outstanding	3 years 8 months 21 days	4 years 7 months 6 days
Remaining weighted average contractual life, exercisable	3 years
Intrinsic value, options outstanding	$ 0	$ 0
Intrinsic value, options exercisable	$ 0

Stock Based Compensation (Fair Value Assumptions) (Details) - Employee Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 5.62	$ 8.95	$ 3.85
Expected life (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Volatility	44.00%	43.00%	40.00%
Dividend yield	0.00%	0.00%	0.00%
Risk free interest rate	2.74%	2.11%	1.40%

Stock Based Compensation (Restricted Stock) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2018 shares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	292
Granted (in shares)	63
Vested (in shares)	(124)
Forfeited (in shares)	(36)
Nonvested at the end of year (in shares)	195
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	2,226
Granted (in shares)	1,507
Vested (in shares)	(856)
Forfeited (in shares)	(422)
Nonvested at the end of year (in shares)	2,455

Business Segments (Narrative) (Details) - segment	3 Months Ended	12 Months Ended
Business Segments (Narrative) (Details) - segment	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Number of reportable segments (in segments)		3
Subsequent Event
Segment Reporting Information [Line Items]
Number of reportable segments (in segments)	3

Business Segments (Income Statement by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	$ 1,064,219	$ 818,620	$ 587,635
Operating income (loss)	$ (381,026)	$ 2,436	$ (11,702)	$ (6,706)	$ (27,105)	$ (13,919)	$ (79,956)	$ (20,615)	(396,998)	(141,595)	(128,952)
Goodwill and intangible asset impairments									363,522	69,062	0
Transaction expenses									3,446	6,511	865
Loss (gain) on disposal of assets and other									(438)	2,097	2,638
Depreciation and amortization									74,508	65,129	61,760
Capital expenditures									24,043	26,709	16,828
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)									(30,468)	(63,925)	(125,449)
Operating Segments \| Drilling & Downhole
Segment Reporting Information [Line Items]
Revenues									334,019	310,523	283,010
Operating income (loss)									(33,335)	(47,106)	(62,439)
Depreciation and amortization									31,985	38,463	41,231
Capital expenditures									8,067	7,093	8,232
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Revenues									373,107	184,182	72,241
Operating income (loss)									31,924	8,797	(36,225)
Depreciation and amortization									33,943	17,631	13,145
Capital expenditures									4,997	4,789	2,099
Operating Segments \| Production
Segment Reporting Information [Line Items]
Revenues									361,407	327,287	233,754
Operating income (loss)									6,022	7,811	655
Depreciation and amortization									8,407	8,608	6,738
Capital expenditures									4,877	6,855	1,953
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues									(4,314)	(3,372)	(1,370)
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)									(35,079)	(33,427)	(27,440)
Depreciation and amortization									173	427	646
Capital expenditures									$ 6,102	$ 7,972	$ 4,544

Business Segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 1,829,652	$ 2,195,228	$ 1,835,192
Operating Segments \| Drilling & Downhole
Segment Reporting Information [Line Items]
Assets	663,414	1,057,378	1,145,426
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Assets	872,731	790,255	317,016
Operating Segments \| Production
Segment Reporting Information [Line Items]
Assets	243,354	251,685	175,940
Corporate
Segment Reporting Information [Line Items]
Assets	$ 50,153	$ 95,910	$ 196,810

Business Segments (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,063,635	$ 1,404,847	$ 1,085,476
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	868,295	1,087,381	809,545
Europe & Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	100,451	213,008	184,768
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	984	7,984	7,855
Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	6,049	7,362	3,175
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	87,221	88,280	79,403
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 635	$ 832	$ 730

Business Segments (Revenue by Shipping Location) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	$ 1,064,219	$ 818,620	$ 587,635
Percentage of net sales									100.00%	100.00%	100.00%
Sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 1,064,219	$ 818,620	$ 587,635
Percentage of net sales									100.00%	100.00%	100.00%
Sales \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 811,724	$ 621,445	$ 361,941
Percentage of net sales									76.30%	76.00%	61.70%
Sales \| Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 68,635	$ 60,898	$ 42,520
Percentage of net sales									6.40%	7.40%	7.20%
Sales \| Europe & Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 57,632	$ 61,134	$ 77,847
Percentage of net sales									5.40%	7.50%	13.20%
Sales \| Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 54,541	$ 25,634	$ 25,975
Percentage of net sales									5.10%	3.10%	4.40%
Sales \| Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 46,503	$ 28,694	$ 51,880
Percentage of net sales									4.40%	3.50%	8.80%
Sales \| Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 25,184	$ 20,815	$ 27,472
Percentage of net sales									2.40%	2.50%	4.70%

Business Segments (Revenue by Product Lines) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue from External Customer [Line Items]
Revenues	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	$ 1,064,219	$ 818,620	$ 587,635
Percentage of net sales									100.00%	100.00%	100.00%
Sales
Revenue from External Customer [Line Items]
Revenues									$ 1,064,219	$ 818,620	$ 587,635
Percentage of net sales									100.00%	100.00%	100.00%
Operating Segments \| Sales \| Drilling Technologies
Revenue from External Customer [Line Items]
Revenues									$ 178,260	$ 168,816	$ 135,051
Percentage of net sales									16.60%	20.60%	23.30%
Operating Segments \| Sales \| Downhole Technologies
Revenue from External Customer [Line Items]
Revenues									$ 104,974	$ 76,010	$ 59,545
Percentage of net sales									9.90%	9.30%	10.10%
Operating Segments \| Sales \| Subsea Technologies
Revenue from External Customer [Line Items]
Revenues									$ 50,785	$ 65,697	$ 88,414
Percentage of net sales									4.80%	8.00%	15.00%
Operating Segments \| Sales \| Stimulation and Intervention
Revenue from External Customer [Line Items]
Revenues									$ 228,721	$ 148,666	$ 72,241
Percentage of net sales									21.50%	18.20%	12.30%
Operating Segments \| Sales \| Coiled Tubing
Revenue from External Customer [Line Items]
Revenues									$ 144,386	$ 35,516	$ 0
Percentage of net sales									13.60%	4.30%	0.00%
Operating Segments \| Sales \| Production Equipment
Revenue from External Customer [Line Items]
Revenues									$ 141,169	$ 124,323	$ 77,166
Percentage of net sales									13.30%	15.20%	13.10%
Operating Segments \| Sales \| Valve Solutions
Revenue from External Customer [Line Items]
Revenues									$ 220,238	$ 202,964	$ 156,588
Percentage of net sales									20.70%	24.80%	26.60%
Eliminations
Revenue from External Customer [Line Items]
Revenues									$ (4,314)	$ (3,372)	$ (1,370)
Eliminations \| Sales
Revenue from External Customer [Line Items]
Revenues									$ (4,314)	$ (3,372)	$ (1,370)
Percentage of net sales									(0.40%)	(0.40%)	(0.40%)

Condensed Consolidating Financial Statements (Condensed consolidating statements of income and comprehensive loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 247,700	$ 198,709	$ 201,115	$ 171,096	$ 1,064,219	$ 818,620	$ 587,635
Cost of sales	231,073	192,496	201,334	182,944	194,705	151,150	151,860	132,117	807,847	629,832	487,900
Gross profit	41,875	74,541	72,669	67,287	52,995	47,559	49,255	38,979	256,372	188,788	99,735
Operating expenses
Selling, general and administrative expenses									286,980	253,713	227,008
Goodwill and intangible asset impairments									363,522	69,062	0
Transaction expenses									3,446	6,511	865
Loss (gain) on disposal of assets and other									(438)	2,097	2,638
Total operating expenses	422,995	72,764	84,721	73,030	73,709	64,839	131,779	61,056	653,510	331,383	230,511
Earnings from equity investment	94	659	350	(963)	(6,391)	3,361	2,568	1,462	140	1,000	1,824
Equity loss from affiliate, net of tax									0	0	0
Operating loss	(381,026)	2,436	(11,702)	(6,706)	(27,105)	(13,919)	(79,956)	(20,615)	(396,998)	(141,595)	(128,952)
Other expense (income)
Interest expense									32,532	26,808	27,410
Foreign exchange and other gains, net									(6,270)	7,268	(21,341)
Gain realized on previously held equity investment					(120,400)				0	(120,392)	0
Gain on contribution of subsea rentals business				(33,500)					(33,506)	0	0
Deferred loan costs written off									0	0	2,978
Total other expense (income), net	6,025	6,598	2,001	(21,868)	(112,155)	8,726	8,987	8,126	(7,244)	(86,316)	9,047
Loss before income taxes	(387,051)	(4,162)	(13,703)	15,162	85,050	(22,645)	(88,943)	(28,741)	(389,754)	(55,279)	(137,999)
Income tax expense (benefit)	(3,308)	(1,108)	1,646	(12,904)	35,981	(7,817)	(11,070)	(12,973)	(15,674)	4,121	(56,051)
Net loss	(383,743)	(3,054)	(15,349)	28,066	49,069	(14,828)	(77,873)	(15,768)	(374,080)	(59,400)	(81,948)
Less: Income attributable to noncontrolling interest									0	0	30
Net loss attributable to common stockholders									(374,080)	(59,400)	(81,978)
Other comprehensive income (loss), net of tax:
Net loss	$ (383,743)	$ (3,054)	$ (15,349)	$ 28,066	$ 49,069	$ (14,828)	$ (77,873)	$ (15,768)	(374,080)	(59,400)	(81,948)
Change in foreign currency translation, net of tax of $0									(24,752)	36,163	(45,722)
Change in pension liability									1,489	107	(335)
Comprehensive loss									(397,343)	(23,130)	(128,005)
Less: comprehensive loss attributable to noncontrolling interests									0	0	(162)
Comprehensive loss attributable to common stockholders									(397,343)	(23,130)	(128,167)
Reportable Legal Entities \| FET (Parent)
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Operating expenses
Selling, general and administrative expenses									0	0	0
Goodwill and intangible asset impairments									0	0
Transaction expenses									0	0	0
Loss (gain) on disposal of assets and other									0	0	0
Total operating expenses									0	0	0
Earnings from equity investment									0	0	0
Equity loss from affiliate, net of tax									(348,557)	(41,253)	(62,180)
Operating loss									(348,557)	(41,253)	(62,180)
Other expense (income)
Interest expense									32,307	27,919	27,480
Foreign exchange and other gains, net									0	0	0
Gain realized on previously held equity investment										0
Gain on contribution of subsea rentals business									0
Deferred loan costs written off											2,978
Total other expense (income), net									32,307	27,919	30,458
Loss before income taxes									(380,864)	(69,172)	(92,638)
Income tax expense (benefit)									(6,784)	(9,772)	(10,660)
Net loss									(374,080)	(59,400)	(81,978)
Less: Income attributable to noncontrolling interest											0
Net loss attributable to common stockholders											(81,978)
Other comprehensive income (loss), net of tax:
Net loss									(374,080)	(59,400)	(81,978)
Change in foreign currency translation, net of tax of $0									(24,752)	36,163	(45,722)
Change in pension liability									1,489	107	(335)
Comprehensive loss									(397,343)	(23,130)	(128,035)
Less: comprehensive loss attributable to noncontrolling interests											0
Comprehensive loss attributable to common stockholders											(128,035)
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues									936,319	703,409	436,785
Cost of sales									717,519	550,931	375,509
Gross profit									218,800	152,478	61,276
Operating expenses
Selling, general and administrative expenses									231,492	205,672	187,974
Goodwill and intangible asset impairments									233,635	33,301
Transaction expenses									2,926	6,521	825
Loss (gain) on disposal of assets and other									(1,274)	1,981	2,616
Total operating expenses									466,779	247,475	191,415
Earnings from equity investment									529	1,000	1,824
Equity loss from affiliate, net of tax									(118,601)	(53,682)	14,663
Operating loss									(366,051)	(147,679)	(113,652)
Other expense (income)
Interest expense									158	(569)	(110)
Foreign exchange and other gains, net									(296)	(118)	(5,264)
Gain realized on previously held equity investment										(120,392)
Gain on contribution of subsea rentals business									5,856
Deferred loan costs written off											0
Total other expense (income), net									5,718	(121,079)	(5,374)
Loss before income taxes									(371,769)	(26,600)	(108,278)
Income tax expense (benefit)									(23,212)	14,653	(46,098)
Net loss									(348,557)	(41,253)	(62,180)
Less: Income attributable to noncontrolling interest											0
Net loss attributable to common stockholders											(62,180)
Other comprehensive income (loss), net of tax:
Net loss									(348,557)	(41,253)	(62,180)
Change in foreign currency translation, net of tax of $0									(24,752)	36,163	(45,722)
Change in pension liability									1,489	107	(335)
Comprehensive loss									(371,820)	(4,983)	(108,237)
Less: comprehensive loss attributable to noncontrolling interests											0
Comprehensive loss attributable to common stockholders											(108,237)
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues									187,647	182,417	198,684
Cost of sales									151,787	145,743	161,190
Gross profit									35,860	36,674	37,494
Operating expenses
Selling, general and administrative expenses									55,488	48,041	39,034
Goodwill and intangible asset impairments									129,887	35,761
Transaction expenses									520	(10)	40
Loss (gain) on disposal of assets and other									836	116	22
Total operating expenses									186,731	83,908	39,096
Earnings from equity investment									(389)	0	0
Equity loss from affiliate, net of tax									0	0	0
Operating loss									(151,260)	(47,234)	(1,602)
Other expense (income)
Interest expense									67	(542)	40
Foreign exchange and other gains, net									(5,974)	7,386	(16,077)
Gain realized on previously held equity investment										0
Gain on contribution of subsea rentals business									(39,362)
Deferred loan costs written off											0
Total other expense (income), net									(45,269)	6,844	(16,037)
Loss before income taxes									(105,991)	(54,078)	14,435
Income tax expense (benefit)									14,322	(760)	707
Net loss									(120,313)	(53,318)	13,728
Less: Income attributable to noncontrolling interest											30
Net loss attributable to common stockholders											13,698
Other comprehensive income (loss), net of tax:
Net loss									(120,313)	(53,318)	13,728
Change in foreign currency translation, net of tax of $0									(24,752)	36,163	(45,722)
Change in pension liability									1,489	107	(335)
Comprehensive loss									(143,576)	(17,048)	(32,329)
Less: comprehensive loss attributable to noncontrolling interests											(162)
Comprehensive loss attributable to common stockholders											(32,491)
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues									(59,747)	(67,206)	(47,834)
Cost of sales									(61,459)	(66,842)	(48,799)
Gross profit									1,712	(364)	965
Operating expenses
Selling, general and administrative expenses									0	0	0
Goodwill and intangible asset impairments									0	0
Transaction expenses									0	0	0
Loss (gain) on disposal of assets and other									0	0	0
Total operating expenses									0	0	0
Earnings from equity investment									0	0	0
Equity loss from affiliate, net of tax									467,158	94,935	47,517
Operating loss									468,870	94,571	48,482
Other expense (income)
Interest expense									0	0	0
Foreign exchange and other gains, net									0	0	0
Gain realized on previously held equity investment										0
Gain on contribution of subsea rentals business									0
Deferred loan costs written off											0
Total other expense (income), net									0	0	0
Loss before income taxes									468,870	94,571	48,482
Income tax expense (benefit)									0	0	0
Net loss									468,870	94,571	48,482
Less: Income attributable to noncontrolling interest											0
Net loss attributable to common stockholders											48,482
Other comprehensive income (loss), net of tax:
Net loss									468,870	94,571	48,482
Change in foreign currency translation, net of tax of $0									49,504	(72,326)	91,444
Change in pension liability									(2,978)	(214)	670
Comprehensive loss									$ 515,396	$ 22,031	140,596
Less: comprehensive loss attributable to noncontrolling interests											0
Comprehensive loss attributable to common stockholders											$ 140,596

Condensed Consolidating Financial Statements (Condensed consolidating balance sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 47,241		$ 115,216
Accounts receivable—trade, net	206,055	$ 199,679	202,914
Inventories, net	479,023		443,177
Prepaid expenses and other current assets	23,677		19,490
Costs and estimated profits in excess of billings	9,159	9,584	9,584
Accrued revenue	862	3,235	0
Total current assets	766,017		790,381
Property and equipment, net of accumulated depreciation	177,358		197,281
Deferred financing costs, net	2,071		2,900
Intangibles, net	359,048		443,064
Goodwill	469,647		755,245	$ 652,743
Investment in unconsolidated subsidiary	44,982		0
Deferred income taxes, net	1,234		3,344
Other long-term assets	9,295		3,013
Investment in affiliates	0		0
Long-term advances to affiliates	0		0
Total assets	1,829,652		2,195,228	$ 1,835,192
Current liabilities
Current portion of long-term debt	1,167		1,156
Accounts payable—trade	143,186		137,684
Accrued liabilities	81,032		66,765
Deferred revenue	8,335	8,819	8,819
Billings in excess of costs and profits recognized	3,210	$ 1,881	1,881
Total current liabilities	236,930		216,305
Long-term debt, net of current portion	517,544		506,750
Deferred income taxes, net	15,299		31,232
Other long-term liabilities	29,753		31,925
Long-term payables to affiliates	0		0
Total liabilities	799,526		786,212
Total stockholders’ equity	1,030,126		1,409,016
Total liabilities and equity	1,829,652		2,195,228
Reportable Legal Entities \| FET (Parent)
Current assets
Cash and cash equivalents	0		0
Accounts receivable—trade, net	0		0
Inventories, net	0		0
Prepaid expenses and other current assets	0		0
Costs and estimated profits in excess of billings	0		0
Accrued revenue	0
Total current assets	0		0
Property and equipment, net of accumulated depreciation	0		0
Deferred financing costs, net	2,071		2,900
Intangibles, net	0		0
Goodwill	0		0
Investment in unconsolidated subsidiary	0
Deferred income taxes, net	0		0
Other long-term assets	0		0
Investment in affiliates	877,764		1,250,593
Long-term advances to affiliates	674,220		667,968
Total assets	1,554,055		1,921,461
Current liabilities
Current portion of long-term debt	0		0
Accounts payable—trade	0		0
Accrued liabilities	6,873		6,638
Deferred revenue	0		0
Billings in excess of costs and profits recognized	0		0
Total current liabilities	6,873		6,638
Long-term debt, net of current portion	517,056		505,807
Deferred income taxes, net	0		0
Other long-term liabilities	0		0
Long-term payables to affiliates	0		0
Total liabilities	523,929		512,445
Total stockholders’ equity	1,030,126		1,409,016
Total liabilities and equity	1,554,055		1,921,461
Reportable Legal Entities \| Guarantor Subsidiaries
Current assets
Cash and cash equivalents	24,977		73,981
Accounts receivable—trade, net	177,986		168,162
Inventories, net	416,237		374,527
Prepaid expenses and other current assets	23,585		12,679
Costs and estimated profits in excess of billings	6,202		9,584
Accrued revenue	0
Total current assets	648,987		638,933
Property and equipment, net of accumulated depreciation	156,434		167,407
Deferred financing costs, net	0		0
Intangibles, net	320,056		390,752
Goodwill	433,415		599,677
Investment in unconsolidated subsidiary	1,222
Deferred income taxes, net	1,170		0
Other long-term assets	4,194		2,086
Investment in affiliates	265,714		418,799
Long-term advances to affiliates	0		0
Total assets	1,831,192		2,217,654
Current liabilities
Current portion of long-term debt	1,150		1,048
Accounts payable—trade	121,019		117,158
Accrued liabilities	40,913		46,962
Deferred revenue	4,742		4,455
Billings in excess of costs and profits recognized	84		1,394
Total current liabilities	167,908		171,017
Long-term debt, net of current portion	480		908
Deferred income taxes, net	0		22,737
Other long-term liabilities	12,288		13,907
Long-term payables to affiliates	772,752		758,492
Total liabilities	953,428		967,061
Total stockholders’ equity	877,764		1,250,593
Total liabilities and equity	1,831,192		2,217,654
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	22,264		41,235
Accounts receivable—trade, net	28,069		34,752
Inventories, net	69,878		77,454
Prepaid expenses and other current assets	92		6,811
Costs and estimated profits in excess of billings	2,957		0
Accrued revenue	862
Total current assets	124,122		160,252
Property and equipment, net of accumulated depreciation	20,924		29,874
Deferred financing costs, net	0		0
Intangibles, net	38,992		52,312
Goodwill	36,232		155,568
Investment in unconsolidated subsidiary	43,760
Deferred income taxes, net	64		3,344
Other long-term assets	5,101		927
Investment in affiliates	0		0
Long-term advances to affiliates	98,532		90,524
Total assets	367,727		492,801
Current liabilities
Current portion of long-term debt	17		108
Accounts payable—trade	22,167		20,526
Accrued liabilities	33,246		13,165
Deferred revenue	3,593		4,364
Billings in excess of costs and profits recognized	3,126		487
Total current liabilities	62,149		38,650
Long-term debt, net of current portion	8		35
Deferred income taxes, net	15,299		8,495
Other long-term liabilities	17,465		18,018
Long-term payables to affiliates	0		0
Total liabilities	94,921		65,198
Total stockholders’ equity	272,806		427,603
Total liabilities and equity	367,727		492,801
Eliminations
Current assets
Cash and cash equivalents	0		0
Accounts receivable—trade, net	0		0
Inventories, net	(7,092)		(8,804)
Prepaid expenses and other current assets	0		0
Costs and estimated profits in excess of billings	0		0
Accrued revenue	0
Total current assets	(7,092)		(8,804)
Property and equipment, net of accumulated depreciation	0		0
Deferred financing costs, net	0		0
Intangibles, net	0		0
Goodwill	0		0
Investment in unconsolidated subsidiary	0
Deferred income taxes, net	0		0
Other long-term assets	0		0
Investment in affiliates	(1,143,478)		(1,669,392)
Long-term advances to affiliates	(772,752)		(758,492)
Total assets	(1,923,322)		(2,436,688)
Current liabilities
Current portion of long-term debt	0		0
Accounts payable—trade	0		0
Accrued liabilities	0		0
Deferred revenue	0		0
Billings in excess of costs and profits recognized	0		0
Total current liabilities	0		0
Long-term debt, net of current portion	0		0
Deferred income taxes, net	0		0
Other long-term liabilities	0		0
Long-term payables to affiliates	(772,752)		(758,492)
Total liabilities	(772,752)		(758,492)
Total stockholders’ equity	(1,150,570)		(1,678,196)
Total liabilities and equity	$ (1,923,322)		$ (2,436,688)

Condensed Consolidating Financial Statements (Condensed consolidating statements of cash flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	$ 2,407	$ (40,033)	$ 64,742
Cash flows from investing activities
Capital expenditures for property and equipment	(24,043)	(26,709)	(16,828)
Acquisition of businesses, net of cash acquired	(60,622)	(162,189)	(4,072)
Investment in unconsolidated subsidiary	0	(1,041)	0
Proceeds from sale of business, property and equipment	9,258	1,971	9,763
Long-term loans and advances to affiliates	0	0	0
Net cash used in investing activities	(75,407)	(187,968)	(11,137)
Cash flows from financing activities
Borrowings of debt	221,980	107,431
Repayments of debt	(211,783)
Repurchases of stock	(2,777)	(4,742)	(623)
Proceeds from stock issuance	249	1,491	87,676
Payment of capital lease obligations	(1,147)	(1,187)	(92)
Deferred financing costs	0	(2,430)	(766)
Long-term loans and advances to affiliates	0	0	0
Dividend paid to affiliates	0	0	0
Net cash provided by financing activities	6,522	100,563	86,195
Effect of exchange rate changes on cash	(1,497)	8,232	(14,627)
Net increase (decrease) in cash, cash equivalents and restricted cash	(67,975)	(119,206)	125,173
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	115,216	234,422	109,249
Cash, cash equivalents and restricted cash at end of period	47,241	115,216	234,422
Reportable Legal Entities \| FET Inc. (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	10,461	(15,718)	(16,882)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0	0
Acquisition of businesses, net of cash acquired	0	0	0
Investment in unconsolidated subsidiary	0	0
Proceeds from sale of business, property and equipment	0	0	0
Long-term loans and advances to affiliates	(18,130)	(86,097)	(69,340)
Net cash used in investing activities	(18,130)	(86,097)	(69,340)
Cash flows from financing activities
Borrowings of debt	221,980	107,431
Repayments of debt	(211,783)
Repurchases of stock	(2,777)	(4,742)	(623)
Proceeds from stock issuance	249	1,491	87,676
Payment of capital lease obligations	0	0	0
Deferred financing costs		(2,430)	(766)
Long-term loans and advances to affiliates	0	0	0
Dividend paid to affiliates	0	0	0
Net cash provided by financing activities	7,669	101,750	86,287
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	(65)	65
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	0	65	0
Cash, cash equivalents and restricted cash at end of period	0	0	65
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(76)	483	31,055
Cash flows from investing activities
Capital expenditures for property and equipment	(20,288)	(20,499)	(12,033)
Acquisition of businesses, net of cash acquired	(60,622)	(157,297)	(4,072)
Investment in unconsolidated subsidiary	0	(1,041)
Proceeds from sale of business, property and equipment	5,192	2,038	9,442
Long-term loans and advances to affiliates	9,690	22,072	12,912
Net cash used in investing activities	(66,028)	(154,727)	6,249
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	(1,030)	(1,147)	(253)
Deferred financing costs		0	0
Long-term loans and advances to affiliates	18,130	86,097	69,340
Dividend paid to affiliates	0	0	0
Net cash provided by financing activities	17,100	84,950	69,087
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(49,004)	(69,294)	106,391
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	73,981	143,275	36,884
Cash, cash equivalents and restricted cash at end of period	24,977	73,981	143,275
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	15,972	3,702	73,772
Cash flows from investing activities
Capital expenditures for property and equipment	(3,755)	(6,210)	(4,795)
Acquisition of businesses, net of cash acquired	0	(4,892)	0
Investment in unconsolidated subsidiary	0	0
Proceeds from sale of business, property and equipment	4,066	(67)	321
Long-term loans and advances to affiliates	0	0	0
Net cash used in investing activities	311	(11,169)	(4,474)
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	(117)	(40)	161
Deferred financing costs		0	0
Long-term loans and advances to affiliates	(9,690)	(22,072)	(12,912)
Dividend paid to affiliates	(23,950)	(28,500)	(23,203)
Net cash provided by financing activities	(33,757)	(50,612)	(35,954)
Effect of exchange rate changes on cash	(1,497)	8,232	(14,627)
Net increase (decrease) in cash, cash equivalents and restricted cash	(18,971)	(49,847)	18,717
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	41,235	91,082	72,365
Cash, cash equivalents and restricted cash at end of period	22,264	41,235	91,082
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(23,950)	(28,500)	(23,203)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0	0
Acquisition of businesses, net of cash acquired	0	0	0
Investment in unconsolidated subsidiary	0	0
Proceeds from sale of business, property and equipment	0	0	0
Long-term loans and advances to affiliates	8,440	64,025	56,428
Net cash used in investing activities	8,440	64,025	56,428
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	0	0	0
Deferred financing costs		0	0
Long-term loans and advances to affiliates	(8,440)	(64,025)	(56,428)
Dividend paid to affiliates	23,950	28,500	23,203
Net cash provided by financing activities	15,510	(35,525)	(33,225)
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0	0
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	0	0	0
Cash, cash equivalents and restricted cash at end of period	$ 0	$ 0	$ 0

Condensed Consolidating Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
FET (Parent) \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 272,948,000	$ 267,037,000	$ 274,003,000	$ 250,231,000	$ 247,700,000	$ 198,709,000	$ 201,115,000	$ 171,096,000	$ 1,064,219,000	$ 818,620,000	$ 587,635,000
Cost of sales	231,073,000	192,496,000	201,334,000	182,944,000	194,705,000	151,150,000	151,860,000	132,117,000	807,847,000	629,832,000	487,900,000
Gross profit	41,875,000	74,541,000	72,669,000	67,287,000	52,995,000	47,559,000	49,255,000	38,979,000	256,372,000	188,788,000	99,735,000
Total operating expenses	422,995,000	72,764,000	84,721,000	73,030,000	73,709,000	64,839,000	131,779,000	61,056,000	653,510,000	331,383,000	230,511,000
Earnings from equity investment	94,000	659,000	350,000	(963,000)	(6,391,000)	3,361,000	2,568,000	1,462,000	140,000	1,000,000	1,824,000
Operating loss	(381,026,000)	2,436,000	(11,702,000)	(6,706,000)	(27,105,000)	(13,919,000)	(79,956,000)	(20,615,000)	(396,998,000)	(141,595,000)	(128,952,000)
Total other expense (income), net	6,025,000	6,598,000	2,001,000	(21,868,000)	(112,155,000)	8,726,000	8,987,000	8,126,000	(7,244,000)	(86,316,000)	9,047,000
Loss before income taxes	(387,051,000)	(4,162,000)	(13,703,000)	15,162,000	85,050,000	(22,645,000)	(88,943,000)	(28,741,000)	(389,754,000)	(55,279,000)	(137,999,000)
Income tax expense (benefit)	(3,308,000)	(1,108,000)	1,646,000	(12,904,000)	35,981,000	(7,817,000)	(11,070,000)	(12,973,000)	(15,674,000)	4,121,000	(56,051,000)
Net loss	$ (383,743,000)	$ (3,054,000)	$ (15,349,000)	$ 28,066,000	$ 49,069,000	$ (14,828,000)	$ (77,873,000)	$ (15,768,000)	$ (374,080,000)	$ (59,400,000)	$ (81,948,000)
Weighted average shares outstanding
Basic (in shares)	109,082	108,856	108,714	108,423	105,947	96,275	96,170	95,860	108,771	98,689	91,226
Diluted (in shares)	109,082	108,856	108,714	110,857	108,581	96,275	96,170	95,860	108,771	98,689	91,226
Loss per share
Basic (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.26	$ 0.46	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)
Diluted (in dollars per share)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.25	$ 0.45	$ (0.15)	$ (0.81)	$ (0.16)	$ (3.44)	$ (0.60)	$ (0.90)
Impairment of intangible assets	$ 50,200,000		$ 14,500,000						$ 64,700,000	$ 1,100,000	$ 0
Goodwill impairment	$ 298,800,000								298,789,000	68,004,000	0
Gain on contribution of subsea rentals business				$ 33,500,000					33,506,000	0	0
Gain realized on previously held equity investment					$ (120,400,000)				$ 0	$ (120,392,000)	$ 0
Subsea Technologies
Loss per share
Goodwill impairment							$ 68,000,000

Label	Element	Value
Total Common Shareholders' Equity [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,006,000)