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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2019	Oct. 29, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-35504
Entity Registrant Name	FORUM ENERGY TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1488595
Entity Address, Address Line One	10344 Sam Houston Park Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77064
City Area Code	(281)
Local Phone Number	949-2500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,464,461
Entity Central Index Key	0001401257
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock
Trading Symbol	FET
Security Exchange Name	NYSE

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 267,037	$ 756,756	$ 791,271
Cost of sales	192,496	560,836	576,774
Gross profit	74,541	195,920	214,497
Operating expenses
Selling, general and administrative expenses	71,790	195,320	215,369
Transaction expenses	769	972	2,164
Impairments of goodwill, intangible assets, property and equipment	0	532,336	14,477
Contingent consideration benefit	0	(4,629)	0
Loss (gain) on disposal of assets and other	205	(71)	(1,495)
Total operating expenses	72,764	723,928	230,515
Earnings (loss) from equity investment	659	(318)	46
Operating income (loss)	2,436	(528,326)	(15,972)
Other expense (income)
Interest expense	7,923	24,170	23,871
Foreign exchange and other gains, net	(1,325)	(3,069)	(3,634)
Gain (Loss) on Sale of Equity Investments	0	(1,567)	0
Gain on contribution of subsea rentals business	0	0	(33,506)
Total other expense (income), net	6,598	19,534	(13,269)
Loss before income taxes	(4,162)	(547,860)	(2,703)
Income tax expense (benefit)	(1,108)	6,749	(12,366)
Net income (loss)	$ (3,054)	$ (554,609)	$ 9,663
Weighted average shares outstanding
Basic (in shares)	108,856	109,977	108,666
Diluted (in shares)	108,856	109,977	110,801
Earnings (loss) per share
Basic (in USD per share)	$ (0.03)	$ (5.04)	$ 0.09
Diluted (in USD per share)	$ (0.03)	$ (5.04)	$ 0.09
Other comprehensive income (loss), net of tax:
Net income (loss)	$ (3,054)	$ (554,609)	$ 9,663
Change in foreign currency translation, net of tax of $0	(1,536)	(2,833)	(13,884)
Gain (loss) on pension liability	7	(21)	78
Comprehensive loss	$ (4,583)	$ (557,463)	$ (4,143)

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 28,897	$ 47,241
Accounts receivable—trade, net of allowances of $9,618 and $7,432	182,649	206,055
Inventories, net	443,432	479,023
Prepaid expenses and other current assets	31,803	23,677
Accrued revenue	1,084	862
Costs and estimated profits in excess of billings	4,640	9,159
Total current assets	692,505	766,017
Property and equipment, net of accumulated depreciation	160,173	177,358
Operating lease assets	50,706
Deferred financing costs, net	1,450	2,071
Intangible assets	279,371	359,048
Goodwill	0	469,647
Investment in unconsolidated subsidiary	0	44,982
Deferred income taxes, net	0	1,234
Other long-term assets	14,947	9,295
Total assets	1,199,152	1,829,652
Current liabilities
Current portion of long-term debt	1,220	1,167
Accounts payable—trade	124,062	143,186
Accrued liabilities	87,148	81,032
Deferred revenue	7,152	8,335
Billings in excess of costs and profits recognized	4,507	3,210
Total current liabilities	224,089	236,930
Long-term debt, net of current portion	399,805	517,544
Deferred income taxes, net	12,627	15,299
Operating lease liabilities	51,718
Other long-term liabilities	25,451	29,753
Total liabilities	713,690	799,526
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 118,594,202 and 117,411,158 shares issued	1,186	1,174
Additional paid-in capital	1,227,768	1,214,928
Treasury stock at cost, 8,209,974 and 8,200,477 shares	(134,487)	(134,434)
Retained earnings (deficit)	(490,921)	63,688
Accumulated other comprehensive loss	(118,084)	(115,230)
Total equity	485,462	1,030,126
Total liabilities and equity	$ 1,199,152	$ 1,829,652

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Trade accounts receivable allowance	$ 9,618	$ 7,432
Common Stock, par value (in USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	296,000,000	296,000,000
Common Stock, shares issued (in shares)	118,594,202	117,411,158
Treasury stock (in shares)	8,209,974	8,200,477

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Cash flows from operating activities

Net income (loss)

$ (554,609)

$ 9,663

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation expense

22,873

24,975

Amortization of intangible assets

25,621

30,905

Impairments of goodwill, intangible assets, property and equipment

532,336

14,477

Inventory write down

5,775

9,180

Stock-based compensation expense

11,923

17,173

(Earnings) loss from unconsolidated subsidiary

317

(46)

Contingent consideration benefit

(4,629)

Gain realized on previously held equity investment

1,567

Gain on contribution of subsea rentals business

(33,506)

Deferred income taxes

(1,438)

(14,406)

Noncash losses (gains) and other, net

5,938

2,372

Changes in operating assets and liabilities

Accounts receivable—trade

20,515

(19,550)

Inventories

28,200

(67,507)

Prepaid expenses and other assets

237

(12,551)

Cost and estimated profit in excess of billings

4,190

(877)

Accounts payable, deferred revenue and other accrued liabilities

(21,328)

12,073

Billings in excess of costs and estimated profits earned

1,297

3,279

Net cash provided by (used in) operating activities

75,651

(24,346)

Cash flows from investing activities

Capital expenditures for property and equipment

(12,607)

(19,856)

Acquisition of businesses, net of cash acquired

(8,000)

Proceeds from sale of equity investment, property and equipment

39,805

9,194

Net cash provided by (used in) investing activities

27,198

(18,662)

Cash flows from financing activities

Borrowings of debt

97,000

100,000

Repayments of debt

(217,333)

(141,866)

Repurchases of stock

(1,050)

(2,499)

Proceeds from stock issuance

150

Net cash used in financing activities

(121,383)

(44,215)

Effect of exchange rate changes on cash

190

(1,053)

Net decrease in cash, cash equivalents and restricted cash

(18,344)

(88,276)

Cash, cash equivalents and restricted cash at beginning of period

47,241

115,216

Cash, cash equivalents and restricted cash at end of period

28,897

26,940

Noncash activities

Assets contributed for equity method investment

^[1]

18,070

Note receivable related to equity method investment transaction

^[1]

$ 4,725

$ 4,067

[1]	See Note 8 Leases for additional information about noncash activities related to leases and the impact from adoption of ASU 842.

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income / (loss)
Balance at beginning of period at Dec. 31, 2017	$ 1,409,016	$ 1,163	$ 1,195,339	$ (134,293)	$ 438,774	$ (91,967)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,302		5,302
Restricted stock issuance, net of forfeitures	(1,607)	4	(1,611)
Issuance of performance shares	(273)	2	(275)
Shares issued in employee stock purchase plan	996	1	995
Contingent shares issued for acquisition of Cooper Valves	125		125
Treasury stock	(66)			(66)
Currency translation adjustment	6,287					6,287
Change in pension liability	16					16
Net income (loss)	28,066				28,066
Balance at end of period at Mar. 31, 2018	1,446,856	1,170	1,199,875	(134,359)	465,834	(85,664)
Balance at beginning of period at Dec. 31, 2017	1,409,016	1,163	1,195,339	(134,293)	438,774	(91,967)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency translation adjustment	(13,884)
Change in pension liability	78
Net income (loss)	9,663
Balance at end of period at Sep. 30, 2018	1,420,751	1,172	1,212,355	(134,434)	447,431	(105,773)
Balance at beginning of period at Mar. 31, 2018	1,446,856	1,170	1,199,875	(134,359)	465,834	(85,664)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,314		5,314
Restricted stock issuance, net of forfeitures	(221)	1	(222)
Treasury stock	(45)			(45)
Currency translation adjustment	(18,635)					(18,635)
Change in pension liability	55					55
Net income (loss)	(15,349)				(15,349)
Balance at end of period at Jun. 30, 2018	1,417,975	1,171	1,204,967	(134,404)	450,485	(104,244)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	6,557		6,557
Restricted stock issuance, net of forfeitures	(257)	0	(257)
Shares issued in employee stock purchase plan	939	1	938
Treasury stock	(30)			(30)
Currency translation adjustment	(1,536)					(1,536)
Change in pension liability	7					7
Net income (loss)	(3,054)				(3,054)
Exercised stock options	150		150
Balance at end of period at Sep. 30, 2018	1,420,751	1,172	1,212,355	(134,434)	447,431	(105,773)
Balance at beginning of period at Dec. 31, 2018	1,030,126	1,174	1,214,928	(134,434)	63,688	(115,230)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	3,910		3,910
Restricted stock issuance, net of forfeitures	(925)	6	(931)
Shares issued in employee stock purchase plan	684	2	682
Contingent shares issued for acquisition of Cooper Valves	375	1	374
Treasury stock	(48)			(48)
Currency translation adjustment	4,834					4,834
Change in pension liability	(9)					(9)
Net income (loss)	(7,888)				(7,888)
Balance at end of period at Mar. 31, 2019	1,031,059	1,183	1,218,963	(134,482)	55,800	(110,405)
Balance at beginning of period at Dec. 31, 2018	1,030,126	1,174	1,214,928	(134,434)	63,688	(115,230)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency translation adjustment	(2,833)
Change in pension liability	(21)
Net income (loss)	(554,609)
Balance at end of period at Sep. 30, 2019	485,462	1,186	1,227,768	(134,487)	(490,921)	(118,084)
Balance at beginning of period at Mar. 31, 2019	1,031,059	1,183	1,218,963	(134,482)	55,800	(110,405)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	4,352		4,352
Restricted stock issuance, net of forfeitures	(64)	0	(64)
Currency translation adjustment	(1,407)					(1,407)
Change in pension liability	5					5
Net income (loss)	(13,734)				(13,734)
Balance at end of period at Jun. 30, 2019	1,020,211	1,183	1,223,251	(134,482)	42,066	(111,807)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	3,661		3,661
Restricted stock issuance, net of forfeitures	(8)	0	(8)
Shares issued in employee stock purchase plan	867	3	864
Treasury stock	(5)			(5)
Currency translation adjustment	(6,260)					(6,260)
Change in pension liability	(17)					(17)
Net income (loss)	(532,987)				(532,987)
Balance at end of period at Sep. 30, 2019	$ 485,462	$ 1,186	$ 1,227,768	$ (134,487)	$ (490,921)	$ (118,084)

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Forum Energy Technologies, Inc. (the “Company,” “we,” “our,” or “us”), a Delaware corporation, is a global oilfield products company, serving the drilling, downhole, subsea, completions and production sectors of the oil and natural gas industry. The Company's products include highly engineered capital equipment as well as products that are consumed in the drilling, well construction, production and transportation of oil and natural gas. Forum is headquartered in Houston, TX with manufacturing and distribution facilities strategically located around the globe. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its subsidiaries. All intercompany transactions have been eliminated in consolidation. Prior to the sale of our aggregate 40% interest in the third quarter 2019, our investment in Ashtead Technology (”Ashtead”) was accounted for using the equity method of accounting as we had the ability to exert significant influence, but did not control operating and financial policies. Prior to the sale, our share of the net income (loss) from Ashtead was reported in “Earnings (loss) from equity investment” in the Condensed Consolidated Statements of Comprehensive loss and the investment was included in “Investment in unconsolidated subsidiary” in the condensed consolidated balance sheets. Our share of equity earnings were reported within operating income (loss), as the investee’s operations were integral to the operations of the Company. See Note 4 Acquisitions & Dispositions for further information related to the sale of our aggregate 40% interest in Ashtead. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the fair statement of the Company’s financial position, results of operations and cash flows have been included. Operating results for the nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 or any other interim period. These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2018, which are included in the Company’s 2018 Annual Report on Form 10-K filed with the SEC on February 28, 2019. Change of Segment In the first quarter 2019, we changed our reporting 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 reporting 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 business 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 generally accepted accounting principles. Refer to Note 11 Business Segments for further information.

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	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 2019 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. We applied the update beginning January 1, 2019. The adoption of this new guidance had no material impact on our unaudited condensed consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 842”). Under this new guidance, lessees are required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases (finance and operating). The classification as either a financing or operating lease determines whether lease expense is recognized on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new standard as of January 1, 2019 using the modified retrospective transition method which requires leases existing at, or entered into after, January 1, 2019 to be recognized and measured. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We took 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 for leases with an initial term of 12 months or less to be excluded from the balance sheet; and •electing to not separate non-lease components from lease components for all classes of underlying lease assets. The adoption of this standard resulted in the recording of net operating lease assets of approximately $54 million and operating lease liabilities of approximately $65 million as of January 1, 2019. The new standard did not materially affect our Condensed Consolidated Statement of Comprehensive Loss for the three and nine months ended September 30, 2019. For additional information, please refer to Note 8 Leases. 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 unaudited condensed 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. The Company is currently evaluating the impact of adopting this guidance and is in the process of: •collecting historical data that will be used in the calculation of expected credit loss; •documenting relevant assumptions to calculate expected losses; and •updating policies, procedures and internal controls.

Revenue

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenues

Revenue

Revenue is recognized 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. For a detailed discussion of our revenue recognition policies, refer to the Company’s 2018 Annual Report on Form 10-K.

Disaggregated Revenue

Refer to Note 11 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, we record a contract liability 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. Such contract liabilities typically result from billings in excess of costs incurred on construction contracts and advance payments received on product sales.

The following table reflects the changes in our contract assets and contract liabilities balances for the nine months ended September 30, 2019 (in thousands):


	September 30, 2019		December 31, 2018		Increase / (Decrease)
							$		%
Accrued revenue	$	1,084	$	862
Costs and estimated profits in excess of billings	4,640		9,159
Contract assets	$	5,724	$	10,021	$	(4,297)	(43)	%

Deferred revenue	$	7,152	$	8,335
Billings in excess of costs and profits recognized	4,507		3,210
Contract liabilities	$	11,659	$	11,545	$	114	1	%

During the nine months ended September 30, 2019, our contract assets decreased by $4.3 million primarily due to the timing of orders and billings in our Subsea Technologies and Production Equipment product lines. During the nine months ended September 30, 2019, our contract liabilities increased by $0.1 million primarily due the timing of billings for customer projects in our Subsea Technologies product line.

During the nine months ended September 30, 2019, we recognized revenue of $7.0 million that was included in the contract liability balance at the beginning of the period.

In the second quarter 2018, our Subsea Technologies product line received an order to supply a submarine rescue vehicle and related equipment that 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

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Acquisitions & Dispositions

Acquisitions

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 (as of the acquisition date) 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. In the first quarter of 2019, we updated the estimated fair value of the contingent cash payments and recognized a $4.6 million reduction in the contingent cash liability. This gain is included in contingent consideration benefit in the condensed consolidated statement of comprehensive loss.

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	$	18,468
Property and equipment	2,408
Non-current assets	238
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,746
Current liabilities	(12,633)
Long-term liabilities	$	(2,355)
Net assets acquired, net of cash acquired	$	57,272

Revenue and net income for this acquisition were not significant for the nine months ended September 30, 2019. 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 and 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.

Dispositions

2019 Disposition of interest in Ashtead Technology

On September 3, 2019, we sold our aggregate 40% interest in Ashtead to the majority owners of Ashtead. Total consideration for Forum’s 40% interest and the settlement of a £3.0 million British Pounds note receivable from Ashtead was $47.7 million. Forum received $39.3 million in cash proceeds and a new £6.9 million British Pounds note receivable with a three year maturity. In the third quarter of 2019, we recognized a gain of $1.6 million as a result of this transaction, which is classified as Gain realized on previously held equity investment in the Condensed Consolidated Statements of Comprehensive Loss. Pro forma results of operations for this transaction have not been presented because the effects were 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 to create an independent provider of subsea survey and equipment rental services. In exchange, we received a 40% interest in the combined business, 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 was accounted for as an equity method investment and reported as Investment in

unconsolidated subsidiary in our condensed consolidated balance sheets prior to the disposition of our equity interest discussed above. 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 Condensed Consolidated Statements of Comprehensive Loss. This gain was equal to the sum of the consideration received, which included the fair value of the acquired 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 such 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 was amortized through equity earnings (loss) over the estimated life of the respective assets prior to the disposition of our equity interest discussed above. Pro forma results of operations for this transaction have not been presented because the effects were not material to the consolidated financial statements.

Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Our significant components of inventory at September 30, 2019 and December 31, 2018 were as follows (in thousands):


	September 30, 2019		December 31, 2018
Raw materials and parts	$	186,350	$	212,526
Work in process	35,300		39,494
Finished goods	285,267		302,590
Gross inventories	506,917		554,610
Inventory reserve	(63,485)		(75,587)
Inventories	$	443,432	$	479,023

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill from December 31, 2018 to September 30, 2019, were as follows (in thousands):


	Drilling & Downhole		Completions		Production		Total
Goodwill Balance at December 31, 2018	$	191,151	$	259,280	$	19,216	$	469,647

Purchase accounting adjustments	427		187		—		614
Impairment	(191,485)		(260,238)		(19,287)		(471,010)
Impact of non-U.S. local currency translation	(93)		771		71		749
Goodwill Balance at September 30, 2019	$	—	$	—	$	—	$	—

We perform our annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. During the third quarter 2019, there was a significant decline in the quoted market prices of our common stock and a continued decline in U.S. onshore drilling and completions activity, which led us to evaluate all of our reporting units for a triggering event as of September 30, 2019. Upon evaluation, we considered these developments to be a triggering event that required us to update our goodwill impairment evaluation for all reporting units as of September 30, 2019 based on our current forecast and expectations for market conditions. As a result, we determined that the carrying value of each of our Downhole, Stimulation and Intervention, Coiled Tubing, Production Equipment and Valve Solutions reporting units exceeded their respective estimated fair value and we

recorded non-cash goodwill impairment charges of $191.5 million, $126.3 million, $133.9 million, $4.6 million, and $14.7 million, respectively. These charges are included in “Impairments of goodwill, intangible assets, property and equipment” in the Condensed Consolidated Statements of Comprehensive Loss. Following these impairment charges, there is no remaining goodwill balance for any of our reporting units.

There were no impairments of goodwill during the three and nine months ended September 30, 2018. Accumulated impairment losses on goodwill were $1,006.6 million and $535.6 million, respectively, as of September 30, 2019 and December 31, 2018.

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 (classified within level 3 of the fair value hierarchy). 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 estimates, 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.

Intangible assets

Intangible assets consisted of the following as of September 30, 2019 and December 31, 2018, respectively (in thousands):


	September 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Amortizable Intangibles		Amortization Period (In Years)
Customer relationships	$	279,039	$	(104,489)	$	174,550	10-15
Patents and technology	93,272		(19,519)		73,753		5-19
Non-compete agreements	5,390		(5,288)		102		2-6
Trade names	43,029		(20,083)		22,946		7-19
Distributor relationships	22,160		(18,550)		3,610		15-22
Trademarks	5,089		(679)		4,410		15
Intangible Assets Total	$	447,979	$	(168,608)	$	279,371


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Amortizable 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
Trademarks	10,319		(424)		9,895		15 - Indefinite
Intangible Assets Total	$	528,157	$	(169,109)	$	359,048

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 third quarter of 2019, due to the impairment indicators discussed above, we determined that certain intangibles in our Stimulation and Intervention and our Valve Solutions reporting units were impaired. As a result, we recognized an aggregate $53.5 million of impairment losses on these intangible assets (primarily customer relationships, technology and trademarks) in the third quarter of 2019. In the second quarter 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). These charges are included in “Impairments of goodwill, intangible assets, property and equipment” in the Condensed Consolidated Statements of Comprehensive Loss.

Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Debt

Notes payable and lines of credit as of September 30, 2019 and December 31, 2018 consisted of the following (in thousands):


	September 30, 2019		December 31, 2018
6.25% Senior Notes due October 2021	$	400,000	$	400,000
Unamortized debt premium	872		1,176
Debt issuance cost	(2,295)		(3,121)
Senior secured revolving credit facility	—		119,000
Other debt	2,448		1,656
Total debt	401,025		518,711
Less: current maturities	(1,220)		(1,167)
Long-term debt	$	399,805	$	517,544

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 (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. 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.

Credit Facility

Our credit facility ("Credit Facility") provides revolving credit commitments of $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 Senior 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 September 30, 2019, our total borrowing base was $295.6 million, of which zero was drawn and $16.1 million was used for security of outstanding letters of credit, resulting in availability of $279.5 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 greater 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 greater 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 Credit Facility. After the first quarter in which our total 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 4.43% for the nine months ended September 30, 2019.

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 Credit Facility is less than or equal to 50%. After the first quarter in which our total 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% 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.

Deferred Loan Costs

We have incurred loan costs that have been deferred and are amortized to interest expense over the term of the Senior Notes and the Credit Facility.

Other Debt

Other debt consists primarily of various capital leases.

Letters of Credit and Guarantees

We execute letters of credit in the normal course of business to secure the delivery of product from specific vendors and also to guarantee our fulfillment of performance obligations relating to certain large contracts. We had $16.4 million and $13.6 million in total outstanding letters of credit as of September 30, 2019 and December 31, 2018, respectively.

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

We determine if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded in our condensed consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our condensed consolidated balance sheets based on lease classification as either operating or financing. Operating leases are included in operating lease assets, accrued liabilities and operating lease liabilities. Finance leases are included in property and equipment, current portion of long-term debt, and long-term debt. Some of our lease agreements include lease and non-lease components for which we have elected to not separate for all classes of underlying assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We sublease certain real estate to third parties when we have no future use for the property.

Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. Operating lease Right of Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments at the commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Our leases have remaining terms of 1 year to 14 years and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. The operating lease ROU assets also include any upfront lease payments made and exclude lease incentives and initial direct costs incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term.

The following table summarizes the supplemental balance sheet information related to leases as of September 30, 2019 (in thousands):

Classification

September 30, 2019

Assets

Operating lease assets

50,706

Finance lease assets

Property and equipment, net of accumulated depreciation

1,878

Total lease assets

52,584

Liabilities

Current

Operating

Accrued liabilities

12,808

Finance

Current portion of long-term debt

620

Noncurrent

Operating

Operating lease liabilities

51,718

Finance

Long-term debt, net of current portion

1,228

Total lease liabilities

66,374

The following table summarizes the components of lease expenses for the three and nine months ended September 30, 2019 (in thousands):


Lease Cost	Classification	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2,275	$	10,487
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	110		275
Interest on lease liabilities	Interest expense	21		53
Sublease income	Cost of sales and Selling, general and administrative expenses	(486)		(1,052)
Net lease cost		$	1,920	$	9,763

The maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
Remainder of 2019	$	4,338	$	114	$	4,452
2020	16,412		674		17,086
2021	13,804		674		14,478
2022	10,676		361		11,037
2023	7,392		43		7,435
2024	6,189		18		6,207
Thereafter	24,990		5		24,995
Total lease payments	83,801		1,889		85,690
Less: present value discount	(19,275)		(41)		(19,316)
Present value of lease liabilities	$	64,526	$	1,848	$	66,374

The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of September 30, 2019:


Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	7.2 years
Financing leases	3.0 years
Weighted-average discount rate
Operating leases	6.58	%
Financing leases	6.58	%

The following table summarizes the supplemental cash flow information related to leases as of September 30, 2019 (in thousands):


	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11,402
Operating cash flows from finance leases	53
Financing cash flows from finance leases	1,033
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,603
Finance leases	1,478
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$	(884)
Operating lease assets	54,069
Operating lease liabilities	64,506
Accrued liabilities	(11,321)

Leases

The following table summarizes the supplemental balance sheet information related to leases as of September 30, 2019 (in thousands):

Classification

September 30, 2019

Assets

Operating lease assets

50,706

Finance lease assets

Property and equipment, net of accumulated depreciation

1,878

Total lease assets

52,584

Liabilities

Current

Operating

Accrued liabilities

12,808

Finance

Current portion of long-term debt

620

Noncurrent

Operating

Operating lease liabilities

51,718

Finance

Long-term debt, net of current portion

1,228

Total lease liabilities

66,374

The following table summarizes the components of lease expenses for the three and nine months ended September 30, 2019 (in thousands):


Lease Cost	Classification	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2,275	$	10,487
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	110		275
Interest on lease liabilities	Interest expense	21		53
Sublease income	Cost of sales and Selling, general and administrative expenses	(486)		(1,052)
Net lease cost		$	1,920	$	9,763

The maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
Remainder of 2019	$	4,338	$	114	$	4,452
2020	16,412		674		17,086
2021	13,804		674		14,478
2022	10,676		361		11,037
2023	7,392		43		7,435
2024	6,189		18		6,207
Thereafter	24,990		5		24,995
Total lease payments	83,801		1,889		85,690
Less: present value discount	(19,275)		(41)		(19,316)
Present value of lease liabilities	$	64,526	$	1,848	$	66,374

The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of September 30, 2019:


Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	7.2 years
Financing leases	3.0 years
Weighted-average discount rate
Operating leases	6.58	%
Financing leases	6.58	%

The following table summarizes the supplemental cash flow information related to leases as of September 30, 2019 (in thousands):


	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11,402
Operating cash flows from finance leases	53
Financing cash flows from finance leases	1,033
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,603
Finance leases	1,478
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$	(884)
Operating lease assets	54,069
Operating lease liabilities	64,506
Accrued liabilities	(11,321)

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2019, we recorded a tax benefit of $3.4 million primarily related to the impairment of goodwill and a tax expense of $6.7 million for the nine months ended September 30, 2019 including $5.9 million of tax expense to increase our valuation allowance as discussed further below. For the three and nine months ended September 30, 2018, we recorded a tax benefit of $1.1 million and a tax benefit of $12.4 million, respectively. For interim periods, our income tax expense or benefit is computed based upon our estimated annual effective tax rate and any discrete items that impact the interim periods. The estimated annual effective tax rate for the nine months ended September 30, 2019 is different than the comparable period in 2018 primarily due to the impairment of goodwill, and losses in jurisdictions where the recording of a tax benefit is not available. For the nine months ended September 30, 2019, tax expense includes an increase in our valuation allowance of $5.9 million to write down our deferred tax assets in the U.S. and Saudi Arabia to what, in our judgment, is more likely than not realizable. In addition, income tax benefit for the nine months ended September 30, 2018 includes a $15.6 million tax benefit related to an adjustment of the provisional tax impact of U.S. tax reform as discussed further below. The tax benefit or expense recorded can vary from period to period depending on the Company’s relative mix of U.S. and non-U.S. earnings and losses by jurisdiction. 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. 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 for the year ended December 31, 2018. We have deferred tax assets related to net operating loss 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. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, including the effect of U.S. tax reform, tax-planning and recent operating results. As of September 30, 2019, we do not 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, Saudi Arabia and Singapore. As a result, we have certain valuation allowances against our deferred tax assets as of September 30, 2019.

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements At September 30, 2019, the Company had no borrowings outstanding under the Credit Facility. As of December 31, 2018, the Company had $119.0 million of debt outstanding under the Credit Facility. The Credit Facility 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 our 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 September 30, 2019, the fair value and the carrying value of our Senior Notes approximated $324.0 million and $398.6 million, respectively. At December 31, 2018, the fair value and the carrying value of our Senior Notes approximated $362.0 million and $398.1 million, respectively. There were no other outstanding financial assets as of September 30, 2019 and December 31, 2018 that required measuring the amounts at fair value. We did not change our 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 nine months ended September 30, 2019.

- 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

Business Segments

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Business Segments

In the first quarter 2019, we changed our reporting 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 reporting 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 business 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 generally accepted accounting principles.

The Drilling & Downhole segment designs and manufactures products and provides related services to the drilling, well construction, artificial lift 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):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Revenue:
Drilling & Downhole	$	88,294	$	82,022	$	256,586	$	245,362
Completions	70,637		91,049		246,816		279,152
Production	81,022		95,286		256,272		270,306
Eliminations	(687)		(1,320)		(2,918)		(3,549)
Total revenue	$	239,266	$	267,037	$	756,756	$	791,271

Operating income (loss)
Drilling & Downhole	$	4,342	$	(4,685)	$	3,185	$	(22,515)
Completions	(109)		11,612		9,583		34,763
Production	2,301		5,299		10,225		13,165
Corporate	(7,410)		(8,816)		(22,711)		(26,239)
Segment operating income (loss)	(876)		3,410		282		(826)
Transaction expenses	254		769		972		2,164
Impairments of goodwill, intangible assets, property and equipment	532,336		—		532,336		14,477
Contingent consideration benefit	—		—		(4,629)		—
Loss (gain) on disposal of assets and other	(107)		205		(71)		(1,495)
Operating income (loss)	$	(533,359)	$	2,436	$	(528,326)	$	(15,972)

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


	September 30, 2019		December 31, 2018
Drilling & Downhole	$	424,472	$	663,414
Completions	512,227		872,731
Production	212,375		243,354
Corporate	50,078		50,153
Total assets	$	1,199,152	$	1,829,652

Corporate assets include, among other items, cash, prepaid assets and deferred financing costs.

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Drilling Technologies	$	43,192	$	43,322	$	122,429	$	132,472
Downhole Technologies	29,031		27,484		88,241		78,582
Subsea Technologies	16,071		11,216		45,916		34,308
Stimulation and Intervention	36,396		54,849		134,605		166,435
Coiled Tubing	34,241		36,200		112,211		112,717
Production Equipment	29,143		37,413		98,720		104,138
Valve Solutions	51,879		57,873		157,552		166,168
Eliminations	(687)		(1,320)		(2,918)		(3,549)
Total revenue	$	239,266	$	267,037	$	756,756	$	791,271

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
United States	$	159,407	$	208,595	$	540,074	$	602,625
Canada	19,256		18,135		49,473		53,840
Europe & Africa	13,837		12,023		49,249		43,150
Middle East	16,561		12,360		48,306		39,318
Asia-Pacific	21,662		9,391		47,880		32,328
Latin America	8,543		6,533		21,774		20,010
Total Revenue	$	239,266	$	267,037	$	756,756	$	791,271

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of business, the Company is, and in the future could be, involved in various pending or threatened legal actions that may or may not be covered by insurance. Management has reviewed such pending judicial and legal 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 considered to be probable and can be reasonably estimated. The reserves accrued at September 30, 2019 and December 31, 2018, respectively, are immaterial. It is management’s opinion that 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.

Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Net income (loss)	$	(532,987)	$	(3,054)	$	(554,609)	$	9,663

Basic - weighted average shares outstanding	110,295		108,856		109,977		108,666
Dilutive effect of stock options and restricted stock	—		—		—		2,135
Diluted - weighted average shares outstanding	110,295		108,856		109,977		110,801

Earnings (loss) per share
Basic	$	(4.83)	$	(0.03)	$	(5.04)	$	0.09
Diluted	$	(4.83)	$	(0.03)	$	(5.04)	$	0.09

The calculation of diluted earnings per share excludes approximately 3.8 million shares that were anti-dilutive for the nine months ended September 30, 2018. The calculation of diluted loss per share excludes all potentially dilutive shares for the three months ended September 30, 2018, and three and nine months ended September 30, 2019, because there was a net loss for these periods.

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stock-based compensation During the nine months ended September 30, 2019, the Company granted 1,362,621 shares of restricted stock and restricted stock units and 390,896 performance share awards with a market condition. The 1,362,621 shares of restricted stock and restricted stock units include 1,128,173 shares granted to employees that vest ratably over 3 years and 234,448 shares granted to non-employee members of the Board of Directors that have a vesting period of 12 months. The performance share awards granted may settle for between zero and two shares of the Company’s common stock. The number of shares issued pursuant to the performance share award agreements will be determined based on the total shareholder return of the Company’s common stock as compared to a group of peer companies. The performance share awards granted in February 2019 are measured over a three year performance period.

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has sold and purchased equipment and services to and from certain affiliates of our directors. The dollar amounts related to these related party activities are not material to the Company’s condensed consolidated financial statements.

Condensed Consolidating Financial Statements

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Financial Statements Text Block

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 Financial Statements


Condensed consolidating statements of comprehensive loss

	Three Months Ended September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Revenue	$	—	$	197,980	$	61,749	$	(20,463)	$	239,266
Cost of sales	—		149,130		47,990		(20,488)		176,632
Gross Profit	—		48,850		13,759		25		62,634
Operating Expenses
Selling, general and administrative expenses	3		52,699		10,769		—		63,471
Transaction Expenses	—		179		75		—		254
Impairments of Goodwill, Intangible Assets, Property and Equipment	—		487,212		45,124		—		532,336

Gain on disposal of assets and other	—		(105)		(2)		—		(107)
Total operating expenses	3		539,985		55,966		—		595,954
Earnings (loss) from equity investment	—		(304)		265		—		(39)
Equity loss from affiliate, net of tax	(525,163)		(51,094)		—		576,257		—
Operating loss	(525,166)		(542,533)		(41,942)		576,282		(533,359)
Other expense (income)
Interest expense (income)	7,821		(138)		83		—		7,766
Foreign exchange and other losses (gains), net	—		424		(3,624)		—		(3,200)
Gain realized on previously held equity investment	—		(14,045)		12,478		—		(1,567)
Total other (income) expense, net	7,821		(13,759)		8,937		—		2,999
Loss before income taxes	(532,987)		(528,774)		(50,879)		576,282		(536,358)
Income tax expense (benefit)	—		(3,611)		240		—		(3,371)
Net loss	(532,987)		(525,163)		(51,119)		576,282		(532,987)

Other comprehensive loss, net of tax:
Net loss	(532,987)		(525,163)		(51,119)		576,282		(532,987)
Change in foreign currency translation, net of tax of $0	(6,260)		(6,260)		(6,260)		12,520		(6,260)
Loss on pension liability	(17)		(17)		(17)		34		(17)
Comprehensive loss	$	(539,264)	$	(531,440)	$	(57,396)	$	588,836	$	(539,264)


Condensed consolidating statements of comprehensive income (loss)

	Three Months Ended September 30, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)

Revenue	$	—	$	238,224	$	44,552	$	(15,739)	$	267,037
Cost of sales	—		173,795		35,063		(16,362)		192,496
Gross Profit	—		64,429		9,489		623		74,541
Operating Expenses
Selling, general and administrative expenses	—		56,530		15,260		—		71,790
Transaction Expenses	—		491		278		—		769

Loss (gain) on disposal of assets and other	—		(15)		220		—		205
Total operating expenses	—		57,006		15,758		—		72,764
Earnings from equity investment	—		332		327		—		659
Equity earnings (loss) from affiliate, net of tax	3,164		(3,226)		—		62		—
Operating income (loss)	3,164		4,529		(5,942)		685		2,436
Other expense (income)
Interest expense	7,870		40		13		—		7,923
Foreign exchange and other gains, net	—		(156)		(1,169)		—		(1,325)
Total other expense (income), net	7,870		(116)		(1,156)		—		6,598
Income (loss) before income taxes	(4,706)		4,645		(4,786)		685		(4,162)
Income tax expense (benefit)	(1,652)		1,481		(937)		—		(1,108)
Net income (loss)	(3,054)		3,164		(3,849)		685		(3,054)

Other comprehensive income (loss), net of tax:
Net income (loss)	(3,054)		3,164		(3,849)		685		(3,054)
Change in foreign currency translation, net of tax of $0	(1,536)		(1,536)		(1,536)		3,072		(1,536)
Gain on pension liability	7		7		7		(14)		7
Comprehensive income (loss)	$	(4,583)	$	1,635	$	(5,378)	$	3,743	$	(4,583)

Condensed Financial Statements Text Block


Condensed consolidating balance sheets

	September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	13,043	$	15,854	$	—	$	28,897
Accounts receivable—trade, net	—		137,461		45,188		—		182,649
Inventories, net	—		376,148		74,957		(7,673)		443,432
Prepaid expenses and other current assets	—		31,059		744		—		31,803
Accrued revenue	—		228		856		—		1,084
Costs and estimated profits in excess of billings	—		3,415		1,225		—		4,640
Total current assets	—		561,354		138,824		(7,673)		692,505
Property and equipment, net of accumulated depreciation	—		139,879		20,294		—		160,173
Operating lease assets	—		31,877		18,829		—		50,706
Deferred financing costs, net	1,450		—		—		—		1,450
Intangible assets	—		252,555		26,816		—		279,371



Other long-term assets	—		6,021		8,926		—		14,947
Investment in affiliates	344,718		209,341				(554,059)		—
Long-term advances to affiliates	550,645		—		125,360		(676,005)		—
Total assets	$	896,813	$	1,201,027	$	339,049	$	(1,237,737)	$	1,199,152
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,189	$	31	$	—	$	1,220
Accounts payable—trade	—		100,819		23,243		—		124,062
Accrued liabilities	12,774		28,448		45,926		—		87,148
Deferred revenue	—		3,340		3,812		—		7,152
Billings in excess of costs and profits recognized	—		131		4,376		—		4,507
Total current liabilities	12,774		133,927		77,388		—		224,089
Long-term debt, net of current portion	398,577		1,150		78		—		399,805
Deferred income taxes, net	—		915		11,712		—		12,627
Operating lease liabilities	—		31,932		19,786		—		51,718
Other long-term liabilities	—		12,380		13,071		—		25,451
Long-term payables to affiliates	—		676,005		—		(676,005)		—
Total liabilities	411,351		856,309		122,035		(676,005)		713,690

Total equity	485,462		344,718		217,014		(561,732)		485,462
Total liabilities and equity	$	896,813	$	1,201,027	$	339,049	$	(1,237,737)	$	1,199,152


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
Accrued revenue	—		—		862		—		862
Costs and estimated profits in excess of billings	—		6,202		2,957		—		9,159
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 Financial Statements Text Block


Condensed consolidating statements of cash flows

	Nine Months Ended September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	(15,883)	$	108,999	$	(17,465)	$	—	$	75,651
Cash flows from investing activities
Capital expenditures for property and equipment	—		(11,547)		(1,060)		—		(12,607)

Proceeds from sale of equity investment, property and equipment	—		15,090		24,715		—		39,805
Long-term loans and advances to affiliates	135,933		—		(12,876)		(123,057)		—
Net cash provided by investing activities	$	135,933	$	3,543	$	10,779	$	(123,057)	$	27,198
Cash flows from financing activities
Borrowings of debt	97,000		—		—		—		97,000
Repayments of debt	(216,000)		(1,419)		86		—		(217,333)
Repurchases of stock	(1,050)		—		—		—		(1,050)

Long-term loans and advances from affiliates	—		(123,057)		—		123,057		—

Net cash provided by (used in) financing activities	$	(120,050)	$	(124,476)	$	86	$	123,057	$	(121,383)

Effect of exchange rate changes on cash	—		—		190		—		190

Net decrease in cash, cash equivalents and restricted cash	—		(11,934)		(6,410)		—		(18,344)
Cash, cash equivalents and restricted cash at beginning of period	—		24,977		22,264		—		47,241
Cash, cash equivalents and restricted cash at end of period	$	—	$	13,043	$	15,854	$	—	$	28,897


Condensed consolidating statements of cash flows

	Nine Months Ended September 30, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	7,613	$	(9,720)	$	1,711	$	(23,950)	$	(24,346)
Cash flows from investing activities
Capital expenditures for property and equipment	—		(16,698)		(3,158)		—		(19,856)
Acquisition of businesses, net of cash acquired	—		(8,000)		—		—		(8,000)
Proceeds from sale of business, property and equipment	—		5,128		4,066		—		9,194
Long-term loans and advances to affiliates	35,539		3,569		—		(39,108)		—
Net cash provided by (used in) investing activities	$	35,539	$	(16,001)	$	908	$	(39,108)	$	(18,662)
Cash flows from financing activities
Borrowings of debt	100,000		—		—		—		100,000
Repayments of debt	(140,803)		(963)		(100)		—		(141,866)
Repurchases of stock	(2,499)		—		—		—		(2,499)
Proceeds from stock issuance	150		—		—		—		150
Long-term loans and advances to affiliates	—		(35,539)		(3,569)		39,108		—
Dividend paid to affiliates	—		—		(23,950)		23,950		—
Net cash used in financing activities	$	(43,152)	$	(36,502)	$	(27,619)	$	63,058	$	(44,215)

Effect of exchange rate changes on cash	—		—		(1,053)		—		(1,053)

Net decrease in cash, cash equivalents and restricted cash	—		(62,223)		(26,053)		—		(88,276)
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	$	—	$	11,758	$	15,182	$	—	$	26,940

Recent Accounting Pronouncements (Policies)	9 Months Ended
Recent Accounting Pronouncements (Policies)	Sep. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	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 2019 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. We applied the update beginning January 1, 2019. The adoption of this new guidance had no material impact on our unaudited condensed consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 842”). Under this new guidance, lessees are required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases (finance and operating). The classification as either a financing or operating lease determines whether lease expense is recognized on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new standard as of January 1, 2019 using the modified retrospective transition method which requires leases existing at, or entered into after, January 1, 2019 to be recognized and measured. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We took 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 for leases with an initial term of 12 months or less to be excluded from the balance sheet; and •electing to not separate non-lease components from lease components for all classes of underlying lease assets. The adoption of this standard resulted in the recording of net operating lease assets of approximately $54 million and operating lease liabilities of approximately $65 million as of January 1, 2019. The new standard did not materially affect our Condensed Consolidated Statement of Comprehensive Loss for the three and nine months ended September 30, 2019. For additional information, please refer to Note 8 Leases. 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 unaudited condensed 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. The Company is currently evaluating the impact of adopting this guidance and is in the process of: •collecting historical data that will be used in the calculation of expected credit loss; •documenting relevant assumptions to calculate expected losses; and •updating policies, procedures and internal controls.

Revenue (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

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 nine months ended September 30, 2019 (in thousands):


	September 30, 2019		December 31, 2018		Increase / (Decrease)
							$		%
Accrued revenue	$	1,084	$	862
Costs and estimated profits in excess of billings	4,640		9,159
Contract assets	$	5,724	$	10,021	$	(4,297)	(43)	%

Deferred revenue	$	7,152	$	8,335
Billings in excess of costs and profits recognized	4,507		3,210
Contract liabilities	$	11,659	$	11,545	$	114	1	%

Acquisitions & Dispositions (Tables)

9 Months Ended

Sep. 30, 2019

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	$	18,468
Property and equipment	2,408
Non-current assets	238
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,746
Current liabilities	(12,633)
Long-term liabilities	$	(2,355)
Net assets acquired, net of cash acquired	$	57,272

Inventories (Tables)

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory

Our significant components of inventory at September 30, 2019 and December 31, 2018 were as follows (in thousands):


	September 30, 2019		December 31, 2018
Raw materials and parts	$	186,350	$	212,526
Work in process	35,300		39,494
Finished goods	285,267		302,590
Gross inventories	506,917		554,610
Inventory reserve	(63,485)		(75,587)
Inventories	$	443,432	$	479,023

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill from December 31, 2018 to September 30, 2019, were as follows (in thousands):


	Drilling & Downhole		Completions		Production		Total
Goodwill Balance at December 31, 2018	$	191,151	$	259,280	$	19,216	$	469,647

Purchase accounting adjustments	427		187		—		614
Impairment	(191,485)		(260,238)		(19,287)		(471,010)
Impact of non-U.S. local currency translation	(93)		771		71		749
Goodwill Balance at September 30, 2019	$	—	$	—	$	—	$	—

Summary of Intangible Assets

Intangible assets consisted of the following as of September 30, 2019 and December 31, 2018, respectively (in thousands):


	September 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Amortizable Intangibles		Amortization Period (In Years)
Customer relationships	$	279,039	$	(104,489)	$	174,550	10-15
Patents and technology	93,272		(19,519)		73,753		5-19
Non-compete agreements	5,390		(5,288)		102		2-6
Trade names	43,029		(20,083)		22,946		7-19
Distributor relationships	22,160		(18,550)		3,610		15-22
Trademarks	5,089		(679)		4,410		15
Intangible Assets Total	$	447,979	$	(168,608)	$	279,371


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Amortizable 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
Trademarks	10,319		(424)		9,895		15 - Indefinite
Intangible Assets Total	$	528,157	$	(169,109)	$	359,048

Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Notes payable and lines of credit as of September 30, 2019 and December 31, 2018 consisted of the following (in thousands):


	September 30, 2019		December 31, 2018
6.25% Senior Notes due October 2021	$	400,000	$	400,000
Unamortized debt premium	872		1,176
Debt issuance cost	(2,295)		(3,121)
Senior secured revolving credit facility	—		119,000
Other debt	2,448		1,656
Total debt	401,025		518,711
Less: current maturities	(1,220)		(1,167)
Long-term debt	$	399,805	$	517,544

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Lease Assets and Liabilities

The following table summarizes the supplemental balance sheet information related to leases as of September 30, 2019 (in thousands):

Classification

September 30, 2019

Assets

Operating lease assets

50,706

Finance lease assets

Property and equipment, net of accumulated depreciation

1,878

Total lease assets

52,584

Liabilities

Current

Operating

Accrued liabilities

12,808

Finance

Current portion of long-term debt

620

Noncurrent

Operating

Operating lease liabilities

51,718

Finance

Long-term debt, net of current portion

1,228

Total lease liabilities

66,374

Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates

The following table summarizes the components of lease expenses for the three and nine months ended September 30, 2019 (in thousands):


Lease Cost	Classification	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2,275	$	10,487
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	110		275
Interest on lease liabilities	Interest expense	21		53
Sublease income	Cost of sales and Selling, general and administrative expenses	(486)		(1,052)
Net lease cost		$	1,920	$	9,763

Schedule of Finance Lease Liability Maturity

The maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
Remainder of 2019	$	4,338	$	114	$	4,452
2020	16,412		674		17,086
2021	13,804		674		14,478
2022	10,676		361		11,037
2023	7,392		43		7,435
2024	6,189		18		6,207
Thereafter	24,990		5		24,995
Total lease payments	83,801		1,889		85,690
Less: present value discount	(19,275)		(41)		(19,316)
Present value of lease liabilities	$	64,526	$	1,848	$	66,374

Schedule of Operating Lease Liability Maturity

The maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
Remainder of 2019	$	4,338	$	114	$	4,452
2020	16,412		674		17,086
2021	13,804		674		14,478
2022	10,676		361		11,037
2023	7,392		43		7,435
2024	6,189		18		6,207
Thereafter	24,990		5		24,995
Total lease payments	83,801		1,889		85,690
Less: present value discount	(19,275)		(41)		(19,316)
Present value of lease liabilities	$	64,526	$	1,848	$	66,374

Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates

The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of September 30, 2019:


Lease Term and Discount Rate	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	7.2 years
Financing leases	3.0 years
Weighted-average discount rate
Operating leases	6.58	%
Financing leases	6.58	%

Schedule of Lease Cost, Cash Flows, Weighted Average Remaining Lease Term and Weighted Average Discount Rates

The following table summarizes the supplemental cash flow information related to leases as of September 30, 2019 (in thousands):


	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	11,402
Operating cash flows from finance leases	53
Financing cash flows from finance leases	1,033
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,603
Finance leases	1,478
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$	(884)
Operating lease assets	54,069
Operating lease liabilities	64,506
Accrued liabilities	(11,321)

Business Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Revenue:
Drilling & Downhole	$	88,294	$	82,022	$	256,586	$	245,362
Completions	70,637		91,049		246,816		279,152
Production	81,022		95,286		256,272		270,306
Eliminations	(687)		(1,320)		(2,918)		(3,549)
Total revenue	$	239,266	$	267,037	$	756,756	$	791,271

Operating income (loss)
Drilling & Downhole	$	4,342	$	(4,685)	$	3,185	$	(22,515)
Completions	(109)		11,612		9,583		34,763
Production	2,301		5,299		10,225		13,165
Corporate	(7,410)		(8,816)		(22,711)		(26,239)
Segment operating income (loss)	(876)		3,410		282		(826)
Transaction expenses	254		769		972		2,164
Impairments of goodwill, intangible assets, property and equipment	532,336		—		532,336		14,477
Contingent consideration benefit	—		—		(4,629)		—
Loss (gain) on disposal of assets and other	(107)		205		(71)		(1,495)
Operating income (loss)	$	(533,359)	$	2,436	$	(528,326)	$	(15,972)

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


	September 30, 2019		December 31, 2018
Drilling & Downhole	$	424,472	$	663,414
Completions	512,227		872,731
Production	212,375		243,354
Corporate	50,078		50,153
Total assets	$	1,199,152	$	1,829,652

Schedule of Disaggregation of Revenue

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Drilling Technologies	$	43,192	$	43,322	$	122,429	$	132,472
Downhole Technologies	29,031		27,484		88,241		78,582
Subsea Technologies	16,071		11,216		45,916		34,308
Stimulation and Intervention	36,396		54,849		134,605		166,435
Coiled Tubing	34,241		36,200		112,211		112,717
Production Equipment	29,143		37,413		98,720		104,138
Valve Solutions	51,879		57,873		157,552		166,168
Eliminations	(687)		(1,320)		(2,918)		(3,549)
Total revenue	$	239,266	$	267,037	$	756,756	$	791,271

Schedule of Revenue by Geography

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
United States	$	159,407	$	208,595	$	540,074	$	602,625
Canada	19,256		18,135		49,473		53,840
Europe & Africa	13,837		12,023		49,249		43,150
Middle East	16,561		12,360		48,306		39,318
Asia-Pacific	21,662		9,391		47,880		32,328
Latin America	8,543		6,533		21,774		20,010
Total Revenue	$	239,266	$	267,037	$	756,756	$	791,271

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Net income (loss)	$	(532,987)	$	(3,054)	$	(554,609)	$	9,663

Basic - weighted average shares outstanding	110,295		108,856		109,977		108,666
Dilutive effect of stock options and restricted stock	—		—		—		2,135
Diluted - weighted average shares outstanding	110,295		108,856		109,977		110,801

Earnings (loss) per share
Basic	$	(4.83)	$	(0.03)	$	(5.04)	$	0.09
Diluted	$	(4.83)	$	(0.03)	$	(5.04)	$	0.09

Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed consolidating statements of comprehensive income (loss)


Condensed consolidating statements of comprehensive loss

	Three Months Ended September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Revenue	$	—	$	197,980	$	61,749	$	(20,463)	$	239,266
Cost of sales	—		149,130		47,990		(20,488)		176,632
Gross Profit	—		48,850		13,759		25		62,634
Operating Expenses
Selling, general and administrative expenses	3		52,699		10,769		—		63,471
Transaction Expenses	—		179		75		—		254
Impairments of Goodwill, Intangible Assets, Property and Equipment	—		487,212		45,124		—		532,336

Gain on disposal of assets and other	—		(105)		(2)		—		(107)
Total operating expenses	3		539,985		55,966		—		595,954
Earnings (loss) from equity investment	—		(304)		265		—		(39)
Equity loss from affiliate, net of tax	(525,163)		(51,094)		—		576,257		—
Operating loss	(525,166)		(542,533)		(41,942)		576,282		(533,359)
Other expense (income)
Interest expense (income)	7,821		(138)		83		—		7,766
Foreign exchange and other losses (gains), net	—		424		(3,624)		—		(3,200)
Gain realized on previously held equity investment	—		(14,045)		12,478		—		(1,567)
Total other (income) expense, net	7,821		(13,759)		8,937		—		2,999
Loss before income taxes	(532,987)		(528,774)		(50,879)		576,282		(536,358)
Income tax expense (benefit)	—		(3,611)		240		—		(3,371)
Net loss	(532,987)		(525,163)		(51,119)		576,282		(532,987)

Other comprehensive loss, net of tax:
Net loss	(532,987)		(525,163)		(51,119)		576,282		(532,987)
Change in foreign currency translation, net of tax of $0	(6,260)		(6,260)		(6,260)		12,520		(6,260)
Loss on pension liability	(17)		(17)		(17)		34		(17)
Comprehensive loss	$	(539,264)	$	(531,440)	$	(57,396)	$	588,836	$	(539,264)


Condensed consolidating statements of comprehensive income (loss)

	Three Months Ended September 30, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)

Revenue	$	—	$	238,224	$	44,552	$	(15,739)	$	267,037
Cost of sales	—		173,795		35,063		(16,362)		192,496
Gross Profit	—		64,429		9,489		623		74,541
Operating Expenses
Selling, general and administrative expenses	—		56,530		15,260		—		71,790
Transaction Expenses	—		491		278		—		769

Loss (gain) on disposal of assets and other	—		(15)		220		—		205
Total operating expenses	—		57,006		15,758		—		72,764
Earnings from equity investment	—		332		327		—		659
Equity earnings (loss) from affiliate, net of tax	3,164		(3,226)		—		62		—
Operating income (loss)	3,164		4,529		(5,942)		685		2,436
Other expense (income)
Interest expense	7,870		40		13		—		7,923
Foreign exchange and other gains, net	—		(156)		(1,169)		—		(1,325)
Total other expense (income), net	7,870		(116)		(1,156)		—		6,598
Income (loss) before income taxes	(4,706)		4,645		(4,786)		685		(4,162)
Income tax expense (benefit)	(1,652)		1,481		(937)		—		(1,108)
Net income (loss)	(3,054)		3,164		(3,849)		685		(3,054)

Other comprehensive income (loss), net of tax:
Net income (loss)	(3,054)		3,164		(3,849)		685		(3,054)
Change in foreign currency translation, net of tax of $0	(1,536)		(1,536)		(1,536)		3,072		(1,536)
Gain on pension liability	7		7		7		(14)		7
Comprehensive income (loss)	$	(4,583)	$	1,635	$	(5,378)	$	3,743	$	(4,583)

Condensed Statements of Income and Comprehensive Income


Condensed consolidating statements of comprehensive loss

	Nine Months Ended September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Revenue	$	—	$	640,739	$	161,926	$	(45,909)	$	756,756
Cost of sales	—		482,301		123,863		(45,328)		560,836
Gross Profit	—		158,438		38,063		(581)		195,920
Operating Expenses
Selling, general and administrative expenses	3		162,257		33,060		—		195,320
Transaction Expenses	—		897		75		—		972
Impairments of Goodwill, Intangible Assets, Property and Equipment	—		487,212		45,124		—		532,336
Contingent consideration benefit	—		(4,629)		—		—		(4,629)
Loss (gain) on disposal of assets and other	—		54		(125)		—		(71)
Total operating expenses	3		645,791		78,134		—		723,928
Earnings (loss) from equity investment	—		(668)		350		—		(318)
Equity loss from affiliate, net of tax	(530,191)		(53,515)		—		583,706		—
Operating loss	(530,194)		(541,536)		(39,721)		583,125		(528,326)
Other expense (income)
Interest expense (income)	24,415		(219)		(26)		—		24,170
Foreign exchange and other losses (gains), net	—		373		(3,442)		—		(3,069)
Gain realized on previously held equity investment	—		(14,045)		12,478		—		(1,567)
Total other (income) expense, net	24,415		(13,891)		9,010		—		19,534
Loss before income taxes	(554,609)		(527,645)		(48,731)		583,125		(547,860)
Income tax expense	—		2,546		4,203		—		6,749
Net loss	(554,609)		(530,191)		(52,934)		583,125		(554,609)

Other comprehensive loss, net of tax:
Net loss	(554,609)		(530,191)		(52,934)		583,125		(554,609)
Change in foreign currency translation, net of tax of $0	(2,833)		(2,833)		(2,833)		5,666		(2,833)
Loss on pension liability	(21)		(21)		(21)		42		(21)
Comprehensive loss	$	(557,463)	$	(533,045)	$	(55,788)	$	588,833	$	(557,463)


Condensed consolidating statements of comprehensive income (loss)

	Nine Months Ended September 30, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Revenue	$	—	$	698,300	$	136,292	$	(43,321)	$	791,271
Cost of sales	—		510,190		110,762		(44,178)		576,774
Gross Profit	—		188,110		25,530		857		214,497
Operating Expenses
Selling, general and administrative expenses	—		175,342		40,027		—		215,369
Transaction Expenses	—		1,879		285		—		2,164
Intangible asset impairments	—		—		14,477		—		14,477
Loss (gain) on disposal of assets and other	—		(2,349)		854		—		(1,495)
Total operating expenses	—		174,872		55,643		—		230,515
Earnings (loss) from equity investment	—		337		(291)		—		46
Equity earnings from affiliate, net of tax	28,413		6,781		—		(35,194)		—
Operating income (loss)	28,413		20,356		(30,404)		(34,337)		(15,972)
Other expense (income)
Interest expense (income)	23,734		414		(277)		—		23,871
Foreign exchange and other gains, net	—		(265)		(3,369)		—		(3,634)
(Gain) loss on contribution of subsea rentals business	—		5,856		(39,362)		—		(33,506)
Total other (income) expense, net	23,734		6,005		(43,008)		—		(13,269)
Income (loss) before income taxes	4,679		14,351		12,604		(34,337)		(2,703)
Income tax expense (benefit)	(4,984)		(14,062)		6,680		—		(12,366)
Net income	9,663		28,413		5,924		(34,337)		9,663

Other comprehensive income (loss), net of tax:
Net income	9,663		28,413		5,924		(34,337)		9,663
Change in foreign currency translation, net of tax of $0	(13,884)		(13,884)		(13,884)		27,768		(13,884)
Gain on pension liability	78		78		78		(156)		78
Comprehensive income (loss)	$	(4,143)	$	14,607	$	(7,882)	$	(6,725)	$	(4,143)

Condensed consolidating balance sheets


Condensed consolidating balance sheets

	September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	13,043	$	15,854	$	—	$	28,897
Accounts receivable—trade, net	—		137,461		45,188		—		182,649
Inventories, net	—		376,148		74,957		(7,673)		443,432
Prepaid expenses and other current assets	—		31,059		744		—		31,803
Accrued revenue	—		228		856		—		1,084
Costs and estimated profits in excess of billings	—		3,415		1,225		—		4,640
Total current assets	—		561,354		138,824		(7,673)		692,505
Property and equipment, net of accumulated depreciation	—		139,879		20,294		—		160,173
Operating lease assets	—		31,877		18,829		—		50,706
Deferred financing costs, net	1,450		—		—		—		1,450
Intangible assets	—		252,555		26,816		—		279,371



Other long-term assets	—		6,021		8,926		—		14,947
Investment in affiliates	344,718		209,341				(554,059)		—
Long-term advances to affiliates	550,645		—		125,360		(676,005)		—
Total assets	$	896,813	$	1,201,027	$	339,049	$	(1,237,737)	$	1,199,152
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	1,189	$	31	$	—	$	1,220
Accounts payable—trade	—		100,819		23,243		—		124,062
Accrued liabilities	12,774		28,448		45,926		—		87,148
Deferred revenue	—		3,340		3,812		—		7,152
Billings in excess of costs and profits recognized	—		131		4,376		—		4,507
Total current liabilities	12,774		133,927		77,388		—		224,089
Long-term debt, net of current portion	398,577		1,150		78		—		399,805
Deferred income taxes, net	—		915		11,712		—		12,627
Operating lease liabilities	—		31,932		19,786		—		51,718
Other long-term liabilities	—		12,380		13,071		—		25,451
Long-term payables to affiliates	—		676,005		—		(676,005)		—
Total liabilities	411,351		856,309		122,035		(676,005)		713,690

Total equity	485,462		344,718		217,014		(561,732)		485,462
Total liabilities and equity	$	896,813	$	1,201,027	$	339,049	$	(1,237,737)	$	1,199,152


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
Accrued revenue	—		—		862		—		862
Costs and estimated profits in excess of billings	—		6,202		2,957		—		9,159
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 statements of cash flows


Condensed consolidating statements of cash flows

	Nine Months Ended September 30, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	(15,883)	$	108,999	$	(17,465)	$	—	$	75,651
Cash flows from investing activities
Capital expenditures for property and equipment	—		(11,547)		(1,060)		—		(12,607)

Proceeds from sale of equity investment, property and equipment	—		15,090		24,715		—		39,805
Long-term loans and advances to affiliates	135,933		—		(12,876)		(123,057)		—
Net cash provided by investing activities	$	135,933	$	3,543	$	10,779	$	(123,057)	$	27,198
Cash flows from financing activities
Borrowings of debt	97,000		—		—		—		97,000
Repayments of debt	(216,000)		(1,419)		86		—		(217,333)
Repurchases of stock	(1,050)		—		—		—		(1,050)

Long-term loans and advances from affiliates	—		(123,057)		—		123,057		—

Net cash provided by (used in) financing activities	$	(120,050)	$	(124,476)	$	86	$	123,057	$	(121,383)

Effect of exchange rate changes on cash	—		—		190		—		190

Net decrease in cash, cash equivalents and restricted cash	—		(11,934)		(6,410)		—		(18,344)
Cash, cash equivalents and restricted cash at beginning of period	—		24,977		22,264		—		47,241
Cash, cash equivalents and restricted cash at end of period	$	—	$	13,043	$	15,854	$	—	$	28,897


Condensed consolidating statements of cash flows

	Nine Months Ended September 30, 2018
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	7,613	$	(9,720)	$	1,711	$	(23,950)	$	(24,346)
Cash flows from investing activities
Capital expenditures for property and equipment	—		(16,698)		(3,158)		—		(19,856)
Acquisition of businesses, net of cash acquired	—		(8,000)		—		—		(8,000)
Proceeds from sale of business, property and equipment	—		5,128		4,066		—		9,194
Long-term loans and advances to affiliates	35,539		3,569		—		(39,108)		—
Net cash provided by (used in) investing activities	$	35,539	$	(16,001)	$	908	$	(39,108)	$	(18,662)
Cash flows from financing activities
Borrowings of debt	100,000		—		—		—		100,000
Repayments of debt	(140,803)		(963)		(100)		—		(141,866)
Repurchases of stock	(2,499)		—		—		—		(2,499)
Proceeds from stock issuance	150		—		—		—		150
Long-term loans and advances to affiliates	—		(35,539)		(3,569)		39,108		—
Dividend paid to affiliates	—		—		(23,950)		23,950		—
Net cash used in financing activities	$	(43,152)	$	(36,502)	$	(27,619)	$	63,058	$	(44,215)

Effect of exchange rate changes on cash	—		—		(1,053)		—		(1,053)

Net decrease in cash, cash equivalents and restricted cash	—		(62,223)		(26,053)		—		(88,276)
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	$	—	$	11,758	$	15,182	$	—	$	26,940

Organization and Basis of Presentation - Narrative (Details) - segment	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jan. 03, 2018
Business Acquisition [Line Items]
Number of operating segments	3	3
Subsea Rentals \| Ashtead Technology
Business Acquisition [Line Items]
Equity interest received in sale of business			40.00%

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 50,706	$ 54,069
Operating lease liabilities	$ 64,526	64,506
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		54,000
Operating lease liabilities		$ 65,000

Revenue - Narrative (Details) $ in Thousands	9 Months Ended
Revenue - Narrative (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Decrease in contract with customer assets	$ 4,297
Decrease in contract with customer liabilities	(114)
Revenue recognized	$ 7,000

Revenue - Schedule of Changes in Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Contract with Customer, Asset, after Allowance for Credit Loss [Abstract]
Accrued revenue	$ 1,084	$ 862
Costs and estimated profits in excess of billings	4,640	9,159
Contract assets	5,724	10,021
Decrease in contract with customer assets	$ (4,297)
Decrease in contract with customer asset, percentage	(43.00%)
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 7,152	8,335
Billings in excess of costs and profits recognized	4,507	3,210
Contract liabilities	11,659	$ 11,545
Decrease in contract with customer liabilities	$ 114
Decrease in contract with customer liability, percentage	1.00%

Acquisitions & Dispositions - Narrative (Details) $ in Thousands, £ in Millions					3 Months Ended				9 Months Ended
	Sep. 03, 2019 USD ($)	Sep. 03, 2019 GBP (£)	Oct. 05, 2018 USD ($)	Jul. 02, 2018 USD ($)	Sep. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Sep. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 03, 2019 GBP (£)	Jan. 03, 2018 USD ($)	Jan. 03, 2018 GBP (£)
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired									$ 0	$ 8,000
Reduction to contingent cash liability					$ 0		$ 0		4,629	0
Gain realized on previously held equity investment					1,567				1,567	0
(Gain) loss on contribution of subsea rentals business					$ 0		$ 0		$ 0	$ 33,506
Houston Global Heat Transfer LLC
Business Acquisition [Line Items]
Percentage of ownership acquired			100.00%
Acquisition of businesses, net of cash acquired			$ 57,300
Reduction to contingent cash liability						$ 4,600
ESP Completion Technologies LLC
Business Acquisition [Line Items]
Payments to acquire business				$ 8,000
Subsea Rentals
Business Acquisition [Line Items]
Note receivable received as consideration in sale of business \| £											£ 6.9		£ 3.0
Consideration for disposal group	$ 47,700
Proceeds from divestiture of business	$ 39,300
Gain realized on previously held equity investment \| £		£ 1.6
Cash consideration received in sale of business \| £													£ 2.7
(Gain) loss on contribution of subsea rentals business								$ 33,500
Subsea rental assets carry value												$ 18,100
Ashtead Technology \| Subsea Rentals
Business Acquisition [Line Items]
Equity interest received in sale of business												40.00%	40.00%
Equity ownership interest fair value												$ 43,800

Acquisitions & Dispositions - Schedule of Assets Acquired and Liabilities Assumed (Details) - Houston Global Heat Transfer LLC $ in Thousands	Oct. 05, 2018 USD ($)
Business Acquisition [Line Items]
Current assets, net of cash acquired	$ 18,468
Property and equipment	2,408
Non-current assets	238
Intangible assets (primarily customer relationships)	30,400
Tax-deductible goodwill	20,746
Current liabilities	(12,633)
Long-term liabilities	(2,355)
Net assets acquired, net of cash acquired	$ 57,272

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and parts	$ 186,350	$ 212,526
Work in process	35,300	39,494
Finished goods	285,267	302,590
Gross inventories	506,917	554,610
Inventory reserve	(63,485)	(75,587)
Inventories	$ 443,432	$ 479,023

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill [Roll Forward]
Goodwill beginning balance			$ 469,647,000
Purchase accounting adjustments			614,000
Impairment		$ 0	(471,010,000)	$ 0
Impact of non-U.S. local currency translation			749,000
Goodwill ending balance	$ 0		0
Drilling & Downhole
Goodwill [Roll Forward]
Goodwill beginning balance			191,151,000
Purchase accounting adjustments			427,000
Impairment	(191,500,000)		(191,485,000)
Impact of non-U.S. local currency translation			(93,000)
Goodwill ending balance	0		0
Completions
Goodwill [Roll Forward]
Goodwill beginning balance			259,280,000
Purchase accounting adjustments			187,000
Impairment			(260,238,000)
Impact of non-U.S. local currency translation			771,000
Goodwill ending balance	0		0
Production
Goodwill [Roll Forward]
Goodwill beginning balance			19,216,000
Purchase accounting adjustments			0
Impairment	(4,600,000)		(19,287,000)
Impact of non-U.S. local currency translation			71,000
Goodwill ending balance	$ 0		$ 0

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Goodwill [Line Items]
Goodwill impairments		$ 0		$ 471,010,000	$ 0
Accumulated impairment loss on goodwill	$ 1,006,600,000			1,006,600,000		$ 535,600,000
Intangible asset impairment	53,500,000		$ 14,500,000
Drilling & Downhole
Goodwill [Line Items]
Goodwill impairments	191,500,000			191,485,000
Stimulation and Intervention
Goodwill [Line Items]
Goodwill impairments	126,300,000
Coiled Tubing
Goodwill [Line Items]
Goodwill impairments	133,900,000
Production
Goodwill [Line Items]
Goodwill impairments	4,600,000			$ 19,287,000
Valve Solutions
Goodwill [Line Items]
Goodwill impairments	$ 14,700,000

Goodwill and Intangible Assets - Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization		$ (168,608)	$ (169,109)
Gross Carrying Amount		447,979	528,157
Net Amortizable Intangibles		279,371	359,048
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		279,039	337,546
Accumulated Amortization		(104,489)	(110,228)
Net Amortizable Intangibles		174,550	227,318
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		93,272	104,394
Accumulated Amortization		(19,519)	(17,148)
Net Amortizable Intangibles		73,753	87,246
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		5,390	6,245
Accumulated Amortization		(5,288)	(5,600)
Net Amortizable Intangibles		102	645
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		43,029	47,493
Accumulated Amortization		(20,083)	(18,107)
Net Amortizable Intangibles		22,946	29,386
Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		22,160	22,160
Accumulated Amortization		(18,550)	(17,602)
Net Amortizable Intangibles		3,610	4,558
Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		5,089	10,319
Accumulated Amortization		(679)	(424)
Net Amortizable Intangibles		$ 4,410	$ 9,895
Minimum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	4 years	10 years
Minimum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	5 years	5 years
Minimum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	3 years	2 years
Minimum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	10 years	7 years
Minimum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	8 years	8 years
Minimum \| Trademarks
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	15 years	15 years
Maximum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	15 years	15 years
Maximum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	17 years	19 years
Maximum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	6 years	6 years
Maximum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	15 years	19 years
Maximum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period	15 years	15 years

Debt - Schedule of Long-Term Debt (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Oct. 31, 2013
Debt Instrument [Line Items]
Total debt	$ 401,025,000	$ 518,711,000
Unamortized debt premium	872,000	1,176,000
Debt issuance cost	(2,295,000)	(3,121,000)
Less: current maturities	(1,220,000)	(1,167,000)
Long-term debt	399,805,000	517,544,000
6.25% Senior Notes due October 2021
Debt Instrument [Line Items]
Total debt	$ 400,000,000	400,000,000
Debt stated interest rate	6.25%		6.25%
Other debt
Debt Instrument [Line Items]
Total debt	$ 2,448,000	1,656,000
2017 Credit Facility \| Senior secured revolving credit facility
Debt Instrument [Line Items]
Total debt	$ 0	$ 119,000,000

Debt - Narrative (Details)	3 Months Ended	9 Months Ended
Debt - Narrative (Details)	Mar. 31, 2019	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 30, 2017 USD ($)	Nov. 30, 2013 USD ($)	Oct. 31, 2013 USD ($)
Debt Instrument [Line Items]
Debt instrument, carrying value		$ 401,025,000	$ 518,711,000
Outstanding letters of credit		$ 16,400,000	13,600,000
Senior Notes
Debt Instrument [Line Items]
Face amount					$ 100,000,000.0	$ 300,000,000.0
Debt stated interest rate		6.25%				6.25%
Issuance price of par percent					103.25%
Debt instrument, carrying value		$ 400,000,000	400,000,000
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		20,000,000.0
Line of credit facility, remaining borrowing capacity		$ 279,500,000
Percentage of borrowing base		10.00%
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 300,000,000.0
Credit Facility \| Foreign Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				25,000,000.0
Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				30,000,000.0
Credit Facility \| Letter of Credit \| Canadian Subsidiaries
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				3,000,000.0
2017 Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate		4.43%
Unused capacity commitment fee percentage		0.375%
2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit accordion feature increase limit				$ 100,000,000.0
2017 Credit Facility \| Credit Facility
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity		$ 295,600,000
Debt instrument, carrying value		0	$ 119,000,000
2017 Credit Facility \| Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Line of credit outstanding		$ 16,100,000
Federal Funds Effective Swap Rate \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		0.50%
London Interbank Offered Rate (LIBOR) \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		1.00%
CDOR Rate \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest spread		1.00%
Debt Instrument, Redemption, Period One \| Credit Facility
Debt Instrument [Line Items]
Minimum leverage ratio		0.0175
Maximum leverage ratio		0.0225
Debt Instrument, Redemption, Period Two \| Credit Facility
Debt Instrument [Line Items]
Maximum leverage ratio	4.00
Debt Instrument, Redemption, Period Three \| Credit Facility
Debt Instrument [Line Items]
Minimum leverage ratio		0.0200
Maximum leverage ratio		0.0150
Percentage of borrowing base		50.00%
Debt Instrument, Redemption, Period Four \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Debt Instrument, Redemption, Period Five \| Credit Facility
Debt Instrument [Line Items]
Maximum leverage ratio	4.00
Minimum \| Credit Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio		1.00
Fixed charge coverage ratio consecutive days threshold		60 days
Minimum \| Debt Instrument, Redemption, Period Five \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Maximum \| Debt Instrument, Redemption, Period Five \| 2017 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		0.375%

Leases - Narrative (Details)	9 Months Ended
Leases - Narrative (Details)	Sep. 30, 2019
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	14 years

Leases - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Assets
Operating lease assets	$ 50,706	$ 54,069
Finance lease assets	1,878
Total lease assets	52,584
Current
Operating	12,808
Finance	620
Noncurrent
Operating	51,718
Finance	1,228
Total lease liabilities	$ 66,374

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2,275	$ 10,487
Finance lease cost
Amortization of leased assets	110	275
Interest on lease liabilities	21	53
Sublease income	(486)	(1,052)
Net lease cost	$ 1,920	$ 9,763

Leases - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Operating Leases
2019	$ 4,338
2020	16,412
2021	13,804
2022	10,676
2023	7,392
2024	6,189
Thereafter	24,990
Total lease payments	83,801
Less: present value discount	(19,275)
Present value of lease liabilities	64,526	$ 64,506
Finance Leases
2019	114
2020	674
2021	674
2022	361
2023	43
2024	18
Thereafter	5
Total lease payments	1,889
Less: present value discount	(41)
Present value of lease liabilities	1,848
Total
2019	4,452
2020	17,086
2021	14,478
2022	11,037
2023	7,435
2024	6,207
Thereafter	24,995
Total lease payments	85,690
Less: present value discount	(19,316)
Total lease liabilities	$ 66,374

Leases - Schedule of Remaining Lease Term and Discount Rates (Details)	Sep. 30, 2019
Weighted-average remaining lease term (years)
Operating leases	7 years 2 months 12 days
Financing leases	3 years
Weighted-average discount rate
Operating leases	6.58%
Financing leases	6.58%

Leases - Schedule of Lease Cash Flows (Details) - USD ($) $ in Thousands		9 Months Ended
	Jan. 01, 2019	Sep. 30, 2019	Sep. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$ 11,402
Operating cash flows from finance leases		53
Financing cash flows from finance leases		1,033
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases		9,603
Finance leases		1,478
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$ (884)	237	$ (12,551)
Operating lease assets	54,069	50,706
Operating lease liabilities	64,506	$ 64,526
Accrued liabilities	$ (11,321)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (3,371)	$ (1,108)	$ 6,749	$ (12,366)
Change in valuation allowance	$ 5,900		$ 5,900
Tax Cuts and Jobs Act measurement period tax benefit				$ 15,600
Tax Cuts and Jobs Act income tax benefit					$ 15,600

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 401,025,000	$ 518,711,000
6.25% Senior Notes due October 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	400,000,000	400,000,000
6.25% Senior Notes due October 2021 \| Fair Value, Inputs, Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	398,600,000	398,100,000
Debt instrument, fair value disclosure	324,000,000.0	362,000,000.0
2017 Credit Facility \| Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 0	$ 119,000,000

Business Segments - Income Statement by Segment (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) segment	Sep. 30, 2018 USD ($)	Dec. 31, 2018 segment
Segment Reporting [Abstract]
Number of operating segments \| segment			3		3
Segment Reporting Information [Line Items]
Total revenue	$ 239,266	$ 267,037	$ 756,756	$ 791,271
Segment operating income (loss)	(533,359)	2,436	(528,326)	(15,972)
Transaction expenses	254	769	972	2,164
Contingent consideration benefit	0	0	(4,629)	0
Loss (gain) on disposal of assets and other	(107)	205	(71)	(1,495)
Operating Segments
Segment Reporting Information [Line Items]
Segment operating income (loss)	(876)	3,410	282	(826)
Operating Segments \| Drilling & Downhole
Segment Reporting Information [Line Items]
Total revenue	88,294	82,022	256,586	245,362
Segment operating income (loss)	4,342	(4,685)	3,185	(22,515)
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Total revenue	70,637	91,049	246,816	279,152
Segment operating income (loss)	(109)	11,612	9,583	34,763
Operating Segments \| Production
Segment Reporting Information [Line Items]
Total revenue	81,022	95,286	256,272	270,306
Segment operating income (loss)	2,301	5,299	10,225	13,165
Eliminations
Segment Reporting Information [Line Items]
Total revenue	(687)	(1,320)	(2,918)	(3,549)
Corporate
Segment Reporting Information [Line Items]
Segment operating income (loss)	(7,410)	(8,816)	(22,711)	(26,239)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Transaction expenses	254	769	972	2,164
Goodwill and Intangible Asset Impairment	532,336	0	532,336	14,477
Contingent consideration benefit	0	0	(4,629)	0
Loss (gain) on disposal of assets and other	$ (107)	$ 205	$ (71)	$ (1,495)

Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 1,199,152	$ 1,829,652
Operating Segments \| Drilling & Downhole
Segment Reporting Information [Line Items]
Assets	424,472	663,414
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Assets	512,227	872,731
Operating Segments \| Production
Segment Reporting Information [Line Items]
Assets	212,375	243,354
Corporate
Segment Reporting Information [Line Items]
Assets	$ 50,078	$ 50,153

Business Segments - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 239,266	$ 267,037	$ 756,756	$ 791,271
Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(687)	(1,320)	(2,918)	(3,549)
Drilling & Downhole \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	88,294	82,022	256,586	245,362
Completions \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	70,637	91,049	246,816	279,152
Production \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	81,022	95,286	256,272	270,306
Drilling Technologies \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	43,192	43,322	122,429	132,472
Downhole Technologies \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	29,031	27,484	88,241	78,582
Subsea Technologies \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	16,071	11,216	45,916	34,308
Stimulation and Intervention \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	36,396	54,849	134,605	166,435
Coiled Tubing \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	34,241	36,200	112,211	112,717
Production Equipment \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	29,143	37,413	98,720	104,138
Valve Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	$ 51,879	$ 57,873	$ 157,552	$ 166,168

Business Segments - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 239,266	$ 267,037	$ 756,756	$ 791,271
United States
Segment Reporting Information [Line Items]
Total revenue	159,407	208,595	540,074	602,625
Canada
Segment Reporting Information [Line Items]
Total revenue	19,256	18,135	49,473	53,840
Europe & Africa
Segment Reporting Information [Line Items]
Total revenue	13,837	12,023	49,249	43,150
Middle East
Segment Reporting Information [Line Items]
Total revenue	16,561	12,360	48,306	39,318
Asia-Pacific
Segment Reporting Information [Line Items]
Total revenue	21,662	9,391	47,880	32,328
Latin America
Segment Reporting Information [Line Items]
Total revenue	$ 8,543	$ 6,533	$ 21,774	$ 20,010

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ (532,987)	$ (13,734)	$ (7,888)	$ (3,054)	$ (15,349)	$ 28,066	$ (554,609)	$ 9,663
Basic - weighted average shares outstanding (in shares)	110,295			108,856			109,977	108,666
Dilutive effect of stock options and restricted stock (in shares)	0			0			0	2,135
Diluted - weighted average shares outstanding (in shares)	110,295			108,856			109,977	110,801
Earnings (loss) per share
Basic (in USD per share)	$ (4.83)			$ (0.03)			$ (5.04)	$ 0.09
Diluted (in USD per share)	$ (4.83)			$ (0.03)			$ (5.04)	$ 0.09
Anti-dilutive shares excluded (in shares)								3,800

- Definition

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

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- 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.

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Stockholders' Equity (Details)	9 Months Ended
Stockholders' Equity (Details)	Sep. 30, 2019 shares
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	1,362,621
Restricted Stock and Restricted Stock Units \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	1,128,173
Award vesting period	3 years
Restricted Stock and Restricted Stock Units \| Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	234,448
Award vesting period	12 months
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments other than options granted (in shares)	390,896
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio (in shares)	0
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share conversion ratio (in shares)	2
February 2019 \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period	3 years

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	$ 239,266			$ 267,037			$ 756,756	$ 791,271
Cost of sales	176,632			192,496			560,836	576,774
Gross profit	62,634			74,541			195,920	214,497
Operating Expenses
Selling, general and administrative expenses	63,471			71,790			195,320	215,369
Transaction expenses	254			769			972	2,164
Impairments of goodwill, intangible assets, property and equipment	532,336			0			532,336	14,477
Contingent consideration benefit	0			0			(4,629)	0
Gain on disposal of assets and other	(107)			205			(71)	(1,495)
Total operating expenses	595,954			72,764			723,928	230,515
Earnings (loss) from equity investment	(39)			659			(318)	46
Equity loss from affiliate, net of tax	0			0			0	0
Operating income (loss)	(533,359)			2,436			(528,326)	(15,972)
Other expense (income)
Interest expense (income)	7,766			7,923			24,170	23,871
Foreign exchange and other losses (gains), net	(3,200)			(1,325)			(3,069)	(3,634)
Gain realized on previously held equity investment	1,567						1,567	0
(Gain) loss on contribution of subsea rentals business	0			0			0	33,506
Total other expense (income), net	2,999			6,598			19,534	(13,269)
Loss before income taxes	(536,358)			(4,162)			(547,860)	(2,703)
Income tax expense (benefit)	(3,371)			(1,108)			6,749	(12,366)
Net income (loss)	(532,987)	$ (13,734)	$ (7,888)	(3,054)	$ (15,349)	$ 28,066	(554,609)	9,663
Other comprehensive loss, net of tax:
Net income (loss)	(532,987)	(13,734)	(7,888)	(3,054)	(15,349)	28,066	(554,609)	9,663
Change in foreign currency translation, net of tax of $0	(6,260)	(1,407)	4,834	(1,536)	(18,635)	6,287	(2,833)	(13,884)
Gain (loss) on pension liability	(17)	$ 5	$ (9)	7	$ 55	$ 16	(21)	78
Comprehensive loss	(539,264)			(4,583)			(557,463)	(4,143)
Reportable Legal Entities \| FET (Parent)
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	0			0			0	0
Cost of sales	0			0			0	0
Gross profit	0			0			0	0
Operating Expenses
Selling, general and administrative expenses	3			0			3	0
Transaction expenses	0			0			0	0
Impairments of goodwill, intangible assets, property and equipment	0						0	0
Contingent consideration benefit							0
Gain on disposal of assets and other	0			0			0	0
Total operating expenses	3			0			3	0
Earnings (loss) from equity investment	0			0			0	0
Equity loss from affiliate, net of tax	(525,163)			3,164			(530,191)	28,413
Operating income (loss)	(525,166)			3,164			(530,194)	28,413
Other expense (income)
Interest expense (income)	7,821			7,870			24,415	23,734
Foreign exchange and other losses (gains), net	0			0			0	0
Gain realized on previously held equity investment	0						0
(Gain) loss on contribution of subsea rentals business								0
Total other expense (income), net	7,821			7,870			24,415	23,734
Loss before income taxes	(532,987)			(4,706)			(554,609)	4,679
Income tax expense (benefit)	0			(1,652)			0	(4,984)
Net income (loss)	(532,987)			(3,054)			(554,609)	9,663
Other comprehensive loss, net of tax:
Net income (loss)	(532,987)			(3,054)			(554,609)	9,663
Change in foreign currency translation, net of tax of $0	(6,260)			(1,536)			(2,833)	(13,884)
Gain (loss) on pension liability	(17)			7			(21)	78
Comprehensive loss	(539,264)			(4,583)			(557,463)	(4,143)
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	197,980			238,224			640,739	698,300
Cost of sales	149,130			173,795			482,301	510,190
Gross profit	48,850			64,429			158,438	188,110
Operating Expenses
Selling, general and administrative expenses	52,699			56,530			162,257	175,342
Transaction expenses	179			491			897	1,879
Impairments of goodwill, intangible assets, property and equipment	487,212						487,212	0
Contingent consideration benefit							(4,629)
Gain on disposal of assets and other	(105)			(15)			54	(2,349)
Total operating expenses	539,985			57,006			645,791	174,872
Earnings (loss) from equity investment	(304)			332			(668)	337
Equity loss from affiliate, net of tax	(51,094)			(3,226)			(53,515)	6,781
Operating income (loss)	(542,533)			4,529			(541,536)	20,356
Other expense (income)
Interest expense (income)	(138)			40			(219)	414
Foreign exchange and other losses (gains), net	424			(156)			373	(265)
Gain realized on previously held equity investment	14,045						14,045
(Gain) loss on contribution of subsea rentals business								(5,856)
Total other expense (income), net	(13,759)			(116)			(13,891)	6,005
Loss before income taxes	(528,774)			4,645			(527,645)	14,351
Income tax expense (benefit)	(3,611)			1,481			2,546	(14,062)
Net income (loss)	(525,163)			3,164			(530,191)	28,413
Other comprehensive loss, net of tax:
Net income (loss)	(525,163)			3,164			(530,191)	28,413
Change in foreign currency translation, net of tax of $0	(6,260)			(1,536)			(2,833)	(13,884)
Gain (loss) on pension liability	(17)			7			(21)	78
Comprehensive loss	(531,440)			1,635			(533,045)	14,607
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	61,749			44,552			161,926	136,292
Cost of sales	47,990			35,063			123,863	110,762
Gross profit	13,759			9,489			38,063	25,530
Operating Expenses
Selling, general and administrative expenses	10,769			15,260			33,060	40,027
Transaction expenses	75			278			75	285
Impairments of goodwill, intangible assets, property and equipment	45,124						45,124	14,477
Contingent consideration benefit							0
Gain on disposal of assets and other	(2)			220			(125)	854
Total operating expenses	55,966			15,758			78,134	55,643
Earnings (loss) from equity investment	265			327			350	(291)
Equity loss from affiliate, net of tax	0			0			0	0
Operating income (loss)	(41,942)			(5,942)			(39,721)	(30,404)
Other expense (income)
Interest expense (income)	83			13			(26)	(277)
Foreign exchange and other losses (gains), net	(3,624)			(1,169)			(3,442)	(3,369)
Gain realized on previously held equity investment	(12,478)						(12,478)
(Gain) loss on contribution of subsea rentals business								39,362
Total other expense (income), net	8,937			(1,156)			9,010	(43,008)
Loss before income taxes	(50,879)			(4,786)			(48,731)	12,604
Income tax expense (benefit)	240			(937)			4,203	6,680
Net income (loss)	(51,119)			(3,849)			(52,934)	5,924
Other comprehensive loss, net of tax:
Net income (loss)	(51,119)			(3,849)			(52,934)	5,924
Change in foreign currency translation, net of tax of $0	(6,260)			(1,536)			(2,833)	(13,884)
Gain (loss) on pension liability	(17)			7			(21)	78
Comprehensive loss	(57,396)			(5,378)			(55,788)	(7,882)
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenue	(20,463)			(15,739)			(45,909)	(43,321)
Cost of sales	(20,488)			(16,362)			(45,328)	(44,178)
Gross profit	25			623			(581)	857
Operating Expenses
Selling, general and administrative expenses	0			0			0	0
Transaction expenses	0			0			0	0
Impairments of goodwill, intangible assets, property and equipment	0						0	0
Contingent consideration benefit							0
Gain on disposal of assets and other	0			0			0	0
Total operating expenses	0			0			0	0
Earnings (loss) from equity investment	0			0			0	0
Equity loss from affiliate, net of tax	576,257			62			583,706	(35,194)
Operating income (loss)	576,282			685			583,125	(34,337)
Other expense (income)
Interest expense (income)	0			0			0	0
Foreign exchange and other losses (gains), net	0			0			0	0
Gain realized on previously held equity investment	0						0
(Gain) loss on contribution of subsea rentals business								0
Total other expense (income), net	0			0			0	0
Loss before income taxes	576,282			685			583,125	(34,337)
Income tax expense (benefit)	0			0			0	0
Net income (loss)	576,282			685			583,125	(34,337)
Other comprehensive loss, net of tax:
Net income (loss)	576,282			685			583,125	(34,337)
Change in foreign currency translation, net of tax of $0	12,520			3,072			5,666	27,768
Gain (loss) on pension liability	34			(14)			42	(156)
Comprehensive loss	$ 588,836			$ 3,743			$ 588,833	$ (6,725)

Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 28,897				$ 47,241
Accounts receivable—trade, net	182,649				206,055
Inventories, net	443,432				479,023
Prepaid expenses and other current assets	31,803				23,677
Accrued revenue	1,084				862
Costs and estimated profits in excess of billings	4,640				9,159
Total current assets	692,505				766,017
Property and equipment, net of accumulated depreciation	160,173				177,358
Operating lease assets	50,706			$ 54,069
Deferred financing costs, net	1,450				2,071
Intangible assets	279,371				359,048
Goodwill	0				469,647
Investment in unconsolidated subsidiary	0				44,982
Deferred income taxes, net	0				1,234
Other long-term assets	14,947				9,295
Investment in affiliates	0				0
Long-term advances to affiliates	0				0
Total assets	1,199,152				1,829,652
Current liabilities
Current portion of long-term debt	1,220				1,167
Accounts payable—trade	124,062				143,186
Accrued liabilities	87,148				81,032
Deferred revenue	7,152				8,335
Billings in excess of costs and profits recognized	4,507				3,210
Total current liabilities	224,089				236,930
Long-term debt, net of current portion	399,805				517,544
Deferred income taxes, net	12,627				15,299
Operating lease liabilities	51,718
Other long-term liabilities	25,451				29,753
Long-term payables to affiliates	0				0
Total liabilities	713,690				799,526
Total equity	485,462	$ 1,020,211	$ 1,031,059		1,030,126	$ 1,420,751	$ 1,417,975	$ 1,446,856	$ 1,409,016
Total liabilities and equity	1,199,152				1,829,652
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
Accrued revenue	0				0
Costs and estimated profits in excess of billings	0				0
Total current assets	0				0
Property and equipment, net of accumulated depreciation	0				0
Operating lease assets	0
Deferred financing costs, net	1,450				2,071
Intangible assets	0				0
Goodwill					0
Investment in unconsolidated subsidiary					0
Deferred income taxes, net					0
Other long-term assets	0				0
Investment in affiliates	344,718				877,764
Long-term advances to affiliates	550,645				674,220
Total assets	896,813				1,554,055
Current liabilities
Current portion of long-term debt	0				0
Accounts payable—trade	0				0
Accrued liabilities	12,774				6,873
Deferred revenue	0				0
Billings in excess of costs and profits recognized	0				0
Total current liabilities	12,774				6,873
Long-term debt, net of current portion	398,577				517,056
Deferred income taxes, net	0				0
Operating lease liabilities	0
Other long-term liabilities	0				0
Long-term payables to affiliates	0				0
Total liabilities	411,351				523,929
Total equity	485,462				1,030,126
Total liabilities and equity	896,813				1,554,055
Reportable Legal Entities \| Guarantor Subsidiaries
Current assets
Cash and cash equivalents	13,043				24,977
Accounts receivable—trade, net	137,461				177,986
Inventories, net	376,148				416,237
Prepaid expenses and other current assets	31,059				23,585
Accrued revenue	228				0
Costs and estimated profits in excess of billings	3,415				6,202
Total current assets	561,354				648,987
Property and equipment, net of accumulated depreciation	139,879				156,434
Operating lease assets	31,877
Deferred financing costs, net	0				0
Intangible assets	252,555				320,056
Goodwill					433,415
Investment in unconsolidated subsidiary					1,222
Deferred income taxes, net					1,170
Other long-term assets	6,021				4,194
Investment in affiliates	209,341				265,714
Long-term advances to affiliates	0				0
Total assets	1,201,027				1,831,192
Current liabilities
Current portion of long-term debt	1,189				1,150
Accounts payable—trade	100,819				121,019
Accrued liabilities	28,448				40,913
Deferred revenue	3,340				4,742
Billings in excess of costs and profits recognized	131				84
Total current liabilities	133,927				167,908
Long-term debt, net of current portion	1,150				480
Deferred income taxes, net	915				0
Operating lease liabilities	31,932
Other long-term liabilities	12,380				12,288
Long-term payables to affiliates	676,005				772,752
Total liabilities	856,309				953,428
Total equity	344,718				877,764
Total liabilities and equity	1,201,027				1,831,192
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	15,854				22,264
Accounts receivable—trade, net	45,188				28,069
Inventories, net	74,957				69,878
Prepaid expenses and other current assets	744				92
Accrued revenue	856				862
Costs and estimated profits in excess of billings	1,225				2,957
Total current assets	138,824				124,122
Property and equipment, net of accumulated depreciation	20,294				20,924
Operating lease assets	18,829
Deferred financing costs, net	0				0
Intangible assets	26,816				38,992
Goodwill					36,232
Investment in unconsolidated subsidiary					43,760
Deferred income taxes, net					64
Other long-term assets	8,926				5,101
Investment in affiliates					0
Long-term advances to affiliates	125,360				98,532
Total assets	339,049				367,727
Current liabilities
Current portion of long-term debt	31				17
Accounts payable—trade	23,243				22,167
Accrued liabilities	45,926				33,246
Deferred revenue	3,812				3,593
Billings in excess of costs and profits recognized	4,376				3,126
Total current liabilities	77,388				62,149
Long-term debt, net of current portion	78				8
Deferred income taxes, net	11,712				15,299
Operating lease liabilities	19,786
Other long-term liabilities	13,071				17,465
Long-term payables to affiliates	0				0
Total liabilities	122,035				94,921
Total equity	217,014				272,806
Total liabilities and equity	339,049				367,727
Eliminations
Current assets
Cash and cash equivalents	0				0
Accounts receivable—trade, net	0				0
Inventories, net	(7,673)				(7,092)
Prepaid expenses and other current assets	0				0
Accrued revenue	0				0
Costs and estimated profits in excess of billings	0				0
Total current assets	(7,673)				(7,092)
Property and equipment, net of accumulated depreciation	0				0
Operating lease assets	0
Deferred financing costs, net	0				0
Intangible assets	0				0
Goodwill					0
Deferred income taxes, net					0
Other long-term assets	0				0
Investment in affiliates	(554,059)				(1,143,478)
Long-term advances to affiliates	(676,005)				(772,752)
Total assets	(1,237,737)				(1,923,322)
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
Operating lease liabilities	0
Other long-term liabilities	0				0
Long-term payables to affiliates	(676,005)				(772,752)
Total liabilities	(676,005)				(772,752)
Total equity	(561,732)				(1,150,570)
Total liabilities and equity	$ (1,237,737)				$ (1,923,322)

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	$ 75,651	$ (24,346)
Cash flows from investing activities
Capital expenditures for property and equipment	(12,607)	(19,856)
Acquisition of businesses, net of cash acquired	0	(8,000)
Proceeds from sale of equity investment, property and equipment	39,805	9,194
Long-term loans and advances to affiliates	0	0
Net cash provided by (used in) investing activities	27,198	(18,662)
Cash flows from financing activities
Borrowings of debt	97,000	100,000
Repayments of debt	(217,333)	(141,866)
Repurchases of stock	(1,050)	(2,499)
Proceeds from stock issuance	0	150
Long-term loans and advances from affiliates	0	0
Dividend paid to affiliates		0
Net cash used in financing activities	(121,383)	(44,215)
Effect of exchange rate changes on cash	190	(1,053)
Net decrease in cash, cash equivalents and restricted cash	(18,344)	(88,276)
Cash, cash equivalents and restricted cash at beginning of period	47,241	115,216
Cash, cash equivalents and restricted cash at end of period	28,897	26,940
Reportable Legal Entities \| FET (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(15,883)	7,613
Cash flows from investing activities
Capital expenditures for property and equipment	0	0
Acquisition of businesses, net of cash acquired		0
Proceeds from sale of equity investment, property and equipment	0	0
Long-term loans and advances to affiliates	135,933	35,539
Net cash provided by (used in) investing activities	135,933	35,539
Cash flows from financing activities
Borrowings of debt	97,000	100,000
Repayments of debt	(216,000)	(140,803)
Repurchases of stock	(1,050)	(2,499)
Proceeds from stock issuance		150
Long-term loans and advances from affiliates	0	0
Dividend paid to affiliates		0
Net cash used in financing activities	(120,050)	(43,152)
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	0	0
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	108,999	(9,720)
Cash flows from investing activities
Capital expenditures for property and equipment	(11,547)	(16,698)
Acquisition of businesses, net of cash acquired		(8,000)
Proceeds from sale of equity investment, property and equipment	15,090	5,128
Long-term loans and advances to affiliates	0	3,569
Net cash provided by (used in) investing activities	3,543	(16,001)
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	(1,419)	(963)
Repurchases of stock	0	0
Proceeds from stock issuance		0
Long-term loans and advances from affiliates	(123,057)	(35,539)
Dividend paid to affiliates		0
Net cash used in financing activities	(124,476)	(36,502)
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	(11,934)	(62,223)
Cash, cash equivalents and restricted cash at beginning of period	24,977	73,981
Cash, cash equivalents and restricted cash at end of period	13,043	11,758
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(17,465)	1,711
Cash flows from investing activities
Capital expenditures for property and equipment	(1,060)	(3,158)
Acquisition of businesses, net of cash acquired		0
Proceeds from sale of equity investment, property and equipment	24,715	4,066
Long-term loans and advances to affiliates	(12,876)	0
Net cash provided by (used in) investing activities	10,779	908
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	86	(100)
Repurchases of stock	0	0
Proceeds from stock issuance		0
Long-term loans and advances from affiliates	0	(3,569)
Dividend paid to affiliates		(23,950)
Net cash used in financing activities	86	(27,619)
Effect of exchange rate changes on cash	190	(1,053)
Net decrease in cash, cash equivalents and restricted cash	(6,410)	(26,053)
Cash, cash equivalents and restricted cash at beginning of period	22,264	41,235
Cash, cash equivalents and restricted cash at end of period	15,854	15,182
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	0	(23,950)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0
Acquisition of businesses, net of cash acquired		0
Proceeds from sale of equity investment, property and equipment	0	0
Long-term loans and advances to affiliates	(123,057)	(39,108)
Net cash provided by (used in) investing activities	(123,057)	(39,108)
Cash flows from financing activities
Borrowings of debt	0	0
Repayments of debt	0	0
Repurchases of stock	0	0
Proceeds from stock issuance		0
Long-term loans and advances from affiliates	123,057	39,108
Dividend paid to affiliates		23,950
Net cash used in financing activities	123,057	63,058
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Cash, cash equivalents and restricted cash at end of period	$ 0	$ 0

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,006,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,006,000)