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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2019	Feb. 23, 2020	Jun. 28, 2019
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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	713
Local Phone Number	351-7900
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 280.5
Entity Common Stock, Shares Outstanding		110,513,007
Entity Central Index Key	0001401257
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	FET
Security Exchange Name	NYSE

Consolidated statements of comprehensive loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 956,533	$ 1,064,219	$ 818,620
Cost of sales	711,681	807,847	629,832
Gross profit	244,852	256,372	188,788
Operating expenses
Selling, general and administrative expenses	251,736	286,980	253,713
Impairments of goodwill, intangible assets, property and equipment	532,336	363,522	69,062
Transaction expenses	1,159	3,446	6,511
Contingent consideration benefit	(4,629)	0	0
Loss (gain) on disposal of assets and other	78	(438)	2,097
Total operating expenses	780,680	653,510	331,383
Earnings (loss) from equity investments	(318)	140	1,000
Operating loss	(536,146)	(396,998)	(141,595)
Other expense (income)
Interest expense	31,618	32,532	26,808
Foreign exchange losses (gains) and other, net	5,022	(6,270)	7,268
Gain on contribution of subsea rentals business	0	33,506	0
Gain realized on previously held equity investment	(1,567)	0	(120,392)
Gain on disposition of business	(2,348)	0	0
Total other expense (income), net	32,725	(7,244)	(86,316)
Loss before income taxes	(568,871)	(389,754)	(55,279)
Income tax expense (benefit)	(1,814)	(15,674)	4,121
Net loss	$ (567,057)	$ (374,080)	$ (59,400)
Weighted average shares outstanding
Basic (in shares)	110,100	108,771	98,689
Diluted (in shares)	110,100	108,771	98,689
Loss per share
Basic (in dollars per share)	$ (5.15)	$ (3.44)	$ (0.60)
Diluted (in dollars per share)	$ (5.15)	$ (3.44)	$ (0.60)
Other comprehensive income (loss), net of tax:
Net loss	$ (567,057)	$ (374,080)	$ (59,400)
Change in foreign currency translation, net of tax of $0	7,958	(24,752)	36,163
Gain (loss) on pension liability	(1,666)	1,489	107
Comprehensive loss	(560,765)	(397,343)	(23,130)
Less: comprehensive loss attributable to noncontrolling interests	0	0	0
Comprehensive loss attributable to common stockholders	$ (560,765)	$ (397,343)	$ (23,130)

Consolidated statements of comprehensive loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 57,911	$ 47,241
Accounts receivable—trade, net of allowances of $9,048 and $7,432	154,182	206,055
Inventories, net	414,640	479,023
Prepaid expenses and other current assets	33,820	23,677
Costs and estimated profits in excess of billings	4,104	9,159
Accrued revenue	1,260	862
Total current assets	665,917	766,017
Property and equipment, net of accumulated depreciation	154,836	177,358
Operating lease assets	48,682	0
Deferred financing costs, net	1,243	2,071
Intangibles, net	272,300	359,048
Goodwill	0	469,647
Investment in unconsolidated subsidiary	0	44,982
Deferred income taxes, net	654	1,234
Other long-term assets	16,365	9,295
Total assets	1,159,997	1,829,652
Current liabilities
Current portion of long-term debt	717	1,167
Accounts payable—trade	98,720	143,186
Accrued liabilities	86,625	81,032
Deferred revenue	4,877	8,335
Billings in excess of costs and profits recognized	5,911	3,210
Total current liabilities	196,850	236,930
Long-term debt, net of current portion	398,862	517,544
Deferred income taxes, net	2,465	15,299
Operating lease liabilities	49,938	0
Other long-term liabilities	25,843	29,753
Total liabilities	673,958	799,526
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 118,840,611 and 117,411,158 shares issued	1,189	1,174
Additional paid-in capital	1,231,650	1,214,928
Treasury stock at cost, 8,211,919 and 8,200,477 shares	(134,493)	(134,434)
Retained earnings (accumulated deficit)	(503,369)	63,688
Accumulated other comprehensive loss	(108,938)	(115,230)
Total equity	486,039	1,030,126
Total liabilities and equity	$ 1,159,997	$ 1,829,652

Consolidated balance sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable—trade, net of allowances of $9,048 and $7,432	$ 9,048	$ 7,432
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	296,000,000	296,000,000
Common Stock, shares issued (in shares)	118,840,611	117,411,158
Treasury Stock, shares, at cost (in shares)	8,211,919	8,200,477

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net loss	$ (567,057)	$ (374,080)	$ (59,400)
Adjustments to reconcile net loss to net cash provided by (used in) investing activities:
Impairments of goodwill, intangible assets, property and equipment	532,336	363,522	69,062
Depreciation expense	30,629	33,148	34,401
Amortization of intangible assets	32,612	41,360	30,728
Stock-based compensation expense	15,846	19,927	20,310
Inventory write downs	10,324	36,606	14,620
Provision for doubtful accounts	3,152	3,342	2,903
Deferred income taxes	(12,985)	(13,552)	149
Contingent consideration benefit	(4,629)	0	0
Gain on disposition of business	(2,348)	0	0
Gain realized on previously held equity investment	(1,567)	0	(120,392)
(Earnings) loss from equity investments, net of distributions	318	(140)	2,073
Gain on contribution of subsea rentals business	0	33,506	0
Other	4,040	1,086	3,886
Changes in operating assets and liabilities
Accounts receivable—trade	49,732	(4,833)	(64,844)
Inventories	54,265	(60,903)	(66,646)
Prepaid expenses and other current assets	621	(7,980)	12,462
Income tax receivable	0	0	30,929
Cost and estimated profits in excess of billings	4,632	1,273	(171)
Accounts payable, deferred revenue and other accrued liabilities	(48,056)	(4,192)	52,142
Billings in excess of costs and estimated profits earned	2,279	1,329	(2,245)
Net cash provided by (used in) operating activities	104,144	2,407	(40,033)
Cash flows from investing activities
Capital expenditures for property and equipment	(15,102)	(24,043)	(26,709)
Acquisition of businesses, net of cash acquired	0	(60,622)	(162,189)
Proceeds from the sale of equity investment, business, property and equipment	43,237	9,258	1,971
Investment in unconsolidated subsidiary	0	0	(1,041)
Net cash provided by (used in) investing activities	28,135	(75,407)	(187,968)
Cash flows from financing activities
Borrowings of debt	137,000	221,980	107,431
Repayments of debt	(256,900)	(211,783)	0
Repurchases of stock	(1,094)	(2,777)	(4,742)
Proceeds from stock issuance	0	249	1,491
Payment of capital lease obligations	(1,197)	(1,147)	(1,187)
Deferred financing costs	0	0	(2,430)
Net cash provided by (used in) financing activities	(122,191)	6,522	100,563
Effect of exchange rate changes on cash	582	(1,497)	8,232
Net increase (decrease) in cash, cash equivalents and restricted cash	10,670	(67,975)	(119,206)
Cash, cash equivalents and restricted cash at beginning of period	47,241	115,216	234,422
Cash, cash equivalents and restricted cash at end of period	57,911	47,241	115,216
Supplemental cash flow disclosures
Cash paid for interest	31,940	30,269	25,986
Cash paid (refunded) for income taxes	3,917	5,560	(29,094)
Noncash investing and financing activities
Acquisition via issuance of stock	0	0	177,972
Assets contributed for equity method investment	0	18,070	0
Note receivable related to equity method investment transaction	4,725	4,067	0
Accrued purchases of property and equipment	91	1,708	1,398
Accrued consideration for acquisition	$ 0	$ 4,650	$ 0

Consolidated statements of changes in stockholders' equity - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings (accumulated deficit)	Accumulated other comprehensive income / (loss)	Total common stockholders’ equity	Non controlling Interest
Balance at Dec. 31, 2016	$ 1,235,761	$ 1,037	$ 998,169	$ (133,941)	$ 498,174	$ (128,237)	$ 1,235,202	$ 559
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures	(3,149)	3	(3,152)				(3,149)
Stock-based compensation expense	20,310		20,310				20,310
Exercised stock options	1,491	2	1,489				1,491
Issuance of performance shares	(1,241)	3	(1,244)				(1,241)
Shares issued in employee stock purchase plan	1,913	1	1,912				1,913
Shares issued for acquisition	177,972	117	177,855				177,972
Sale of non-controlling interest	(559)							(559)
Treasury stock	(352)			(352)			(352)
Change in pension liability	107					107	107
Currency translation adjustment	36,163					36,163	36,163
Net loss	(59,400)				(59,400)		(59,400)
Balance at Dec. 31, 2017	1,409,016	1,163	1,195,339	(134,293)	438,774	(91,967)	1,409,016	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures	(2,363)	7	(2,370)				(2,363)
Stock-based compensation expense	19,927		19,927				19,927
Exercised stock options	249	0	249				249
Issuance of performance shares	(273)	2	(275)				(273)
Shares issued in employee stock purchase plan	1,935	2	1,933				1,935
Shares issued for acquisition	125	0	125				125
Sale of non-controlling interest	(141)			(141)			(141)
Change in pension liability	1,489					1,489	1,489
Currency translation adjustment	(24,752)					(24,752)	(24,752)
Net loss	(374,080)				(374,080)		(374,080)
Balance at Dec. 31, 2018	1,030,126	1,174	1,214,928	(134,434)	63,688	(115,230)	1,030,126	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issuance, net of forfeitures	(1,035)	9	(1,044)				(1,035)
Stock-based compensation expense	15,846		15,846				15,846
Shares issued in employee stock purchase plan	1,551	5	1,546				1,551
Sale of non-controlling interest	(59)			(59)			(59)
Change in pension liability	(1,666)					(1,666)	(1,666)
Currency translation adjustment	7,958					7,958	7,958
Net loss	(567,057)				(567,057)		(567,057)
Contingent shares issued for acquisition of Cooper	375	1	374				375
Balance at Dec. 31, 2019	$ 486,039	$ 1,189	$ 1,231,650	$ (134,493)	$ (503,369)	$ (108,938)	$ 486,039	$ 0

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Forum Energy Technologies, Inc. (the “Company”), a Delaware corporation, is a global oilfield products company, serving the drilling, downhole, subsea, completions and production sectors of the oil and natural gas industry. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of presentation

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

Principles of consolidation

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

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

Prior to acquiring the remaining membership interest of Global Tubing, LLC (“Global Tubing”) on October 2, 2017, the Company’s investment was accounted for using the equity method of accounting.

On January 3, 2018, the Company contributed Forum Subsea Rentals (“FSR”) into Ashtead Technology, a competing business, in exchange for a 40% interest in the combined business. After the merger, our interest in the combined business was accounted for using the equity method of accounting. On September 3, 2019, we sold our aggregate 40% interest in Ashtead to the majority owners of Ashtead. As of December 31, 2019, we have no investments in unconsolidated subsidiaries. Refer to Note 4 Acquisitions & Dispositions for further discussion.

Use of estimates

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

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

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

Cash and cash equivalents

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

Accounts receivable-trade

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

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2019 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2017	$	3,331	$	2,903	$	(439	)	$	5,795
December 31, 2018	5,795		3,342		(1,705		)	7,432
December 31, 2019	7,432		3,152		(1,536		)	9,048

Inventories

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

Property and equipment

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

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

We review long-lived assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization.

For the years ended December 31, 2019, we recognized property and equipment impairment charges totaling $7.9 million, which are included in “Impairments of goodwill, intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 6 Property and Equipment for further information related to these charges.

No significant impairment charges were recorded for the years ended December 31, 2018 and 2017.

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

Goodwill and intangible assets

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

For the years ended December 31, 2019, 2018 and 2017, we recognized goodwill impairment charges totaling $471.0 million, $298.8 million and $68.0 million, respectively, which are included in “Impairments of goodwill, intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 7 Goodwill and Intangible Assets for further information related to these charges. Following the goodwill impairment charges recognized in the third quarter of 2019, there is no remaining goodwill balance for any of our reporting units.

Intangible assets with definite lives are comprised of customer and distributor relationships, patents and technology, trade names, trademarks and non-compete agreements which are amortized on a straight-line basis over the life of the intangible asset, generally two to twenty-two years. These assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, there is an indication that the asset may be impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows. The impairment loss recognized represents the excess of an assets’ carrying value as compared to its estimated fair value.

For the years ended December 31, 2019, 2018 and 2017, we recognized intangible asset impairment charges totaling $53.5 million, $64.7 million and $1.1 million, respectively, which are included in “Impairments of goodwill, intangible assets, property and equipment” in the consolidated statements of comprehensive loss. See Note 7 Goodwill and Intangible Assets for further information related to these charges.

Recognition of provisions for contingencies

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

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

Revenue recognition and deferred revenue

Revenue is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

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

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

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

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

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

Revenue from goods transferred to customers at a point in time accounted for 96% of revenues for the year ended December 31, 2019. The majority of this revenue is product sales, which are generally recognized when items are shipped from our facilities and title passes to the customer. The amount of revenue recognized for products is adjusted for expected returns, which are estimated based on historical data.

Revenue from goods transferred to customers over time accounted for 4% of revenues for the year ended December 31, 2019, which is related to certain contracts in our Subsea and Production Equipment product lines. Recognition over time for these contracts is supported by our assessment of the products supplied as having no alternative use to us and by clauses in the contracts that provide us with an enforceable right to payment for performance completed to date. We use the cost-to-cost method to measure progress for these contracts because it best depicts the transfer of assets to the customer which occurs as costs are incurred on the contract. The amount of revenue recognized is calculated based on the ratio of costs incurred to-date compared to total estimated costs which requires management to calculate reasonably dependable estimates of total contract costs. Whenever revisions of estimated contract costs and contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. We recognize revenue and cost of sales each period based upon the advancement of the work-in-progress unless the stage of completion is insufficient to enable a reasonably certain forecast of profit to be established. In such cases, no profit is recognized during the period.

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

Contracts are sometimes modified to account for changes in product specifications or requirements. Most of our contract modifications are for goods and services that are not distinct from the existing contract. As such, these modifications

are accounted for as if they were part of the existing contract, and therefore, the effect of the modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue on a cumulative catch-up basis. No adjustment to any one contract was material to our consolidated financial statements for the years ended December 31, 2019, 2018 and 2017.

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

Portfolio Approach. We have elected to apply ASC 606 to a portfolio of contracts with similar characteristics as we reasonably expect that the effects on the financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts within that portfolio.

Disaggregated Revenue. Refer to Note 17 Business Segments for disaggregated revenue by product line and geography.

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

Concentration of credit risk

Financial instruments which potentially subject the Company to credit risk include trade accounts receivable. Trade accounts receivable consist of uncollateralized receivables from domestic and international customers. For the years ended December 31, 2019, 2018 and 2017, no one customer accounted for 10% or more of the total revenue or 10% or more of the total accounts receivable balance at the end of the respective period.

Stock based compensation

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

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

Expected life

The expected term of stock options represents the period the stock options are expected to remain outstanding.

Expected volatility

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

Dividend yield

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

Risk-free interest rate

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

Forfeitures

Forfeitures are accounted for as they occur.

Income taxes

We follow the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based upon temporary differences between the carrying amounts and tax bases of our assets and liabilities at the balance sheet date, and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period in which the change occurs. We record a valuation allowance in each reporting period when management believes that it is more likely than not that any deferred tax asset created will not be realized. See Note 10 Income Taxes for more information on valuation allowances recognized.

During 2018, we completed our analysis of the impact of U.S. tax reform enacted in December 2017 based on further guidance provided on the new tax law by the U.S. Treasury Department and Internal Revenue Service. Refer to Note 10 Income Taxes for further discussion.

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

Non-U.S. local currency translation

We have global operations and the majority of our non-U.S. operations have designated the local currency as the functional currency. Realized and unrealized gains and losses resulting from re-measurements of monetary assets and liabilities denominated in a currency other than the local entity’s functional currency are included in the consolidated statements of comprehensive loss as incurred.

Financial statements of our foreign operations where the functional currency is not the U.S. dollar are translated into U.S. dollars using the current rate method whereby assets and liabilities are translated at the balance sheet rate and income and expenses are translated at the average exchange rates in effect during the period. The resultant translation adjustments are reported as a component of accumulated other comprehensive loss within stockholders’ equity in our consolidated balance sheets.

Fair value

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

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


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


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


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

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

Recent accounting pronouncements

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

Accounting Standards Adopted in 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 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 finance 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 consolidated statements of comprehensive loss for the year ended December 31, 2019. For additional information, please refer to Note 9 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. However, we currently expect that the adoption of this guidance will not have a material impact on our consolidated financial statements.

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

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 ASU No. 2016-13 and is in the process of:


•	reviewing 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.

Although we are continuing to asses all potential impacts of the standard, based on our analysis completed to date, we expect the adoption of this guidance will result in a change of less than $4.0 million for the calculation of our allowance for doubtful accounts for trade accounts receivable.

Income Tax. In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740) - Disclosure Framework - Simplifying the Accounting for Income Taxes, which simplified the accounting for income taxes by removing certain exceptions to the general principles of Topic 740 and clarifying and amending existing guidance. This guidance will take effect for public companies with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. We are currently evaluating the impact of this new guidance. However, we currently expect that the adoption of this guidance will not have a material impact on our consolidated financial statements.

Revenues

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenues

Disaggregated Revenue

Refer to Note 17 Business Segments for disaggregated revenue by product line and geography.

Contract Balances

The following table reflects the changes in our contract assets and contract liabilities balances for the year ended December 31, 2019:



	December 31, 2019		December 31, 2018		Decrease
	December 31, 2019		December 31, 2018		$			%
Accrued revenue	$	1,260	$	862
Costs and estimated profits in excess of billings	4,104		9,159
Contract assets	$	5,364	$	10,021	$	(4,657	)	(46	)%

Deferred revenue	$	4,877	$	8,335
Billings in excess of costs and profits recognized	5,911		3,210
Contract liabilities	$	10,788	$	11,545	$	(757	)	(7	)%

During the year ended December 31, 2019, our contract assets decreased by $4.7 million primarily due to the timing of billings on a large project in our Subsea Technologies product line and our contract liabilities decreased by $0.8 million primarily due to a reduction in customer pre-payments in our Drilling Technologies and Stimulation and Intervention product lines.

During the year ended December 31, 2019, we recognized revenue of $6.5 million that was included in the contract liability balance at the beginning of the period.

In the second quarter of 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

12 Months Ended

Dec. 31, 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 included 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 consolidated statements 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 year ended December 31, 2019 and 2018. Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements.

2018 Acquisition of ESP Completion Technologies LLC

On July 2, 2018, we acquired certain assets of ESP Completion Technologies LLC ("ESPCT"), a subsidiary of C&J Energy Services, for cash consideration of $8.0 million. ESPCT consists of a portfolio of early stage technologies that maximize the run life of artificial lift systems, primarily electric submersible pumps. This acquisition is included in the Drilling 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.

2017 Acquisition of Global Tubing

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

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



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

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


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


•	Removal of earnings from equity investment;


•	Removal of the historical interest expense from Global Tubing’s historical debt and inclusion of interest expense from the amount borrowed on our Credit Facility to finance the acquisition;


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


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

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

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



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

2017 Acquisition of Multilift

On July 3, 2017, we acquired Multilift Welltec, LLC and Multilift Wellbore Technology Limited (collectively, “Multilift”) for approximately $39.2 million in cash consideration. These acquisitions are included in the Completions segment. Based in Houston, Texas, Multilift manufactures the patented SandGuard^TM and the Cyclone^TM completion tools. Pro forma results of operations for this acquisition have not been presented because the effects were not material to the consolidated financial statements.

2017 Acquisition of Cooper Valves

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

Dispositions

2019 Disposition of Cooper Alloy^®

On December 4, 2019, we sold certain assets of our Cooper Alloy^® brand of valve products for total consideration of $4.0 million and recognized a gain on disposition totaling $2.3 million. Pro forma results of operations for this disposition have not been presented because the effects were not material to the consolidated financial statements.

2019 Disposition of Equity 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 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 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 consolidated statements of comprehensive loss. This gain was equal to the sum of the consideration received, which included the fair value of our 40% interest in Ashtead, £2.7 million British Pounds in cash, and the £3.0 million British Pounds note receivable from Ashtead, less the $18.1 million carrying value of the Forum subsea rentals assets at the time of closing.

The fair value of 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

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Inventories

The Company’s significant components of inventory at December 31, 2019 and 2018 were as follows (in thousands):



	December 31, 2019			December 31, 2018
Raw materials and parts	$	172,083		$	212,526
Work in process	29,972			39,494
Finished goods	278,660			302,590
Gross inventories	480,715			554,610
Inventory reserve	(66,075		)	(75,587		)
Inventories	$	414,640		$	479,023

The change in the amounts of the inventory reserve during the three year period ended December 31, 2019 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2017	$	68,352	$	14,620	$	(8,654	)	$	74,318
December 31, 2018	74,318		36,606		(35,337		)	$	75,587
December 31, 2019	75,587		10,324		(19,836		)	$	66,075

Property and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

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



	Estimated useful lives	December 31,
	Estimated useful lives	2019			2018
Land		$	9,870		$	9,755
Buildings and leasehold improvements	5-30	103,383			103,761
Computer equipment	3-5	55,941			54,721
Machinery & equipment	5-10	166,123			162,110
Furniture & fixtures	3-10	6,731			6,631
Vehicles	3-5	5,382			6,160
Right of use assets - finance leases	2-6	2,528			—
Construction in progress		3,663			9,155
		353,621			352,293
Less: accumulated depreciation		(199,210		)	(180,717		)
Property and equipment, net		154,411			171,576

Rental equipment	3-10	3,779			9,535
Less: accumulated depreciation		(3,354		)	(3,753		)
Rental equipment, net		425			5,782

Total property and equipment, net		$	154,836		$	177,358

Depreciation expense was $30.6 million, $33.1 million and $34.4 million for the years ended December 31, 2019, 2018 and 2017, respectively.

For the year ended December 31, 2019, we recognized property and equipment impairment charges of $5.2 million in our Subsea product line and $2.7 million in our Stimulation and Intervention product line, which are included in Impairments of goodwill, intangible assets, property and equipment in the consolidated statements of comprehensive loss. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization (classified within level 3 of the fair value hierarchy).

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

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



	Drilling & Downhole			Completions			Production			Total
Goodwill balance at December 31, 2017	$	494,983		$	240,816		$	19,446		$	755,245
Acquisitions, net of dispositions	1,753			20,559			—			22,312
Impairment	(298,789		)	—			—			(298,789		)
Impact of non-U.S. local currency translation	(6,796		)	(2,095		)	(230		)	(9,121		)
Goodwill balance at December 31, 2018	191,151			259,280			19,216			469,647
Acquisitions, net of dispositions	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 December 31, 2019	$	—		$	—		$	—		$	—

We perform our annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. Relevant events and circumstances which could be an indicator of impairment include: macroeconomic

conditions; industry and market conditions; commodity prices; operating cost factors; overall financial performance; the impact of dispositions and acquisitions; valuation of the Company’s common stock and other entity-specific events.

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 consolidated statements of comprehensive loss. Following these impairment charges, there is no remaining goodwill balance for any of our reporting units.

During the fourth quarter 2018, we completed the annual evaluation of goodwill related to all of our reporting units as of October 1, 2018, our annual testing date. Based on this evaluation, we determined that the carrying value of our Drilling reporting unit exceeded its estimated fair value. As a result, we recorded a non-cash impairment charge of $245.4 million to write-off the goodwill in our Drilling reporting unit. Additionally, during the fourth quarter 2018, there was a significant decline in oil prices, lowered industry expectations for U.S. drilling and completions activities and a substantial decline in the quoted market prices of our common stock, which led us to evaluate all of our reporting units for a triggering event as of December 31, 2018. Upon evaluation, we considered these developments to be a triggering event for our Downhole reporting unit that required us to update our goodwill impairment evaluation as of December 31, 2018 based on our current forecast and expectations for market conditions. As a result, we determined that the carrying value of our Downhole reporting unit exceeded its estimated fair value and we recorded a non-cash impairment charge of $53.4 million to write-off a portion of the goodwill in our Downhole reporting unit. These charges are included in Impairments of goodwill, intangible assets, property and equipment in the consolidated statements of comprehensive loss.

In the second quarter of 2017, there was a decline in oil prices and a developing consensus view that production from lower cost oil basins would be sufficient to meet anticipated demand for a longer period, delaying the need for production from higher cost basins. With this indication of further delays in the recovery of the offshore market, we performed an impairment test and determined that the carrying value of the goodwill in our Subsea reporting unit was impaired. As a result, we recorded an impairment charge of $68.0 million in the second quarter of 2017.

Accumulated impairment losses on goodwill were $1,006.6 million, $535.6 million and $236.8 million as of December 31, 2019, 2018, and 2017, respectively.

The fair values used in each 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 combination of discounted cash flow and guideline public company methodologies, 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

At December 31, 2019 and 2018, intangible assets consisted of the following, respectively (in thousands):



	December 31, 2019
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	281,052	$	(110,410	)	$	170,642	10 - 15
Patents and technology	92,498		(20,819		)	71,679		5 - 19
Non-compete agreements	190		(100		)	90		2 - 6
Trade names	43,284		(21,015		)	22,269		7 - 19
Distributor relationships	22,160		(18,866		)	3,294		15 - 22
Trademark	5,089		(763		)	4,326		15
Intangible Assets Total	$	444,273	$	(171,973	)	$	272,300



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

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 charges on these intangible assets (primarily customer relationships, technology and trademarks) in the third quarter of 2019.

In the fourth quarter of 2018, due to the impairment indicators discussed above, we determined that certain intangible assets in our Downhole Technologies reporting unit were impaired. As a result, we recognized $50.2 million of impairment charges on these intangible assets (primarily customer relationships and trade names) in the fourth quarter of 2018. In the second quarter of 2018, we made the decision to exit specific products within the Subsea Technologies and Downhole Technologies product lines. As a result, we recognized $14.5 million of impairment losses on certain intangible assets (primarily customer relationships).

In 2017, impairment charges totaling $1.1 million were recorded on certain intangible assets within the Subsea Technologies and Downhole Technologies reporting units related to management’s decision to abandon specific product lines.

All of the intangible asset impairment charges discussed above are included in Impairments of goodwill, intangible assets, property and equipment in the consolidated statements of comprehensive loss. The amount of the impairment charges were measured as the difference between the carrying value and the estimated fair value of the assets. The fair value was determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows (classified within level 3 of the fair value hierarchy).

Amortization expense was $32.6 million, $41.4 million and $30.7 million for the years ended December 31, 2019, 2018 and 2017, respectively. The estimated future amortization expense for the next five years is as follows (in thousands):



Year ending December 31,	Amount
2020	$	27,974
2021	26,951
2022	25,976
2023	24,413
2024	22,872

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

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



	December 31, 2019			December 31, 2018
6.25% Senior notes due October 2021	$	400,000		$	400,000
Unamortized debt premium	770			1,176
Debt issuance cost	(3,232		)	(3,121		)
Senior secured revolving credit facility	—			119,000
Other debt	2,041			1,656
Total debt	399,579			518,711
Less: current maturities	(717		)	(1,167		)
Long-term debt	$	398,862		$	517,544

Senior Notes Due 2021

In October 2013, we issued $300.0 million of 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.

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

We may redeem the Senior Notes at a redemption price of 100.0% of their principal amount plus accrued interest.

Credit Facility

Our Credit Facility provides revolving credit commitments of $300.0 million (with a sublimit of up to $45.0 million available for letters of credit issued for the account of the Company and certain of its 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 letters of credit issued for the account of our Canadian subsidiaries (the “Canadian Line”). Lender commitments under the Credit Facility, subject to certain limitations, may be increased by an additional $100.0 million. The Credit Facility matures in July 2021, but if our outstanding Notes due October 2021 are refinanced or replaced with indebtedness maturing in or after February 2023, the final maturity of the Credit Facility will automatically extend to October 2022.

Availability under the Credit Facility is subject to a borrowing base calculated by reference to eligible accounts receivable in the United States, Canada and certain other jurisdictions (subject to a cap) and eligible inventory in the United States and Canada. Our borrowing capacity under the Credit Facility could be reduced or eliminated, depending on future fluctuations in our receivables and inventory. As of December 31, 2019, our total borrowing base was $253.0 million, of which zero was drawn and $23.9 million was used for security of outstanding letters of credit, resulting in remaining availability of $229.1 million.

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

Borrowings under the U.S. Line bear interest at a rate equal to, at our option, either (a) the LIBOR rate or (b) a base rate determined by reference to the highest of (i) the rate of interest per annum determined from time to time by Wells Fargo as its prime rate in effect at its principal office in San Francisco, (ii) the federal funds rate plus 0.50% per annum and (iii) the one-month adjusted LIBOR plus 1.00% per annum, in each case plus an applicable margin. Borrowings under the Canadian Line bear interest at a rate equal to, at Forum Canada’s option, either (a) the CDOR rate or (b) a base rate determined by reference to the highest of (i) the prime rate for Canadian dollar commercial loans made in Canada as reported from time to time by Thomson Reuters and (ii) the CDOR rate plus 1.00%, in each case plus an applicable margin. The applicable margin for LIBOR and CDOR loans will initially range from 1.75% to 2.25%, depending upon average excess availability under the Credit Facility. After the first quarter ending on or after March 31, 2018 in which our total net leverage ratio is less than or equal to 4.00:1.00, the applicable margin for LIBOR and CDOR loans will range from 1.50% to 2.00%, depending upon average excess availability under the Credit Facility. The weighted average interest rate under the Credit Facility was approximately 4.16% during the year ended December 31, 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.

Other debt

Other debt consists primarily of various finance leases of equipment.

Deferred loan costs

The Company has incurred loan costs that have been capitalized and are amortized to interest expense over the term of the Senior Notes and the Credit Facility. As a result, approximately $1.9 million, $1.9 million and $1.7 million were amortized to interest expense for the years ended December 31, 2019, 2018 and 2017, respectively.

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



2020	$	806
2021	400,806
2022	441
2023	43
2024	19
Thereafter	5
Total future payment	$	402,120
Add: Unamortized debt premium	770
Less: Debt issuance cost	(3,232		)
Less: present value discount on finance leases	$	(79	)
Total debt	$	399,579

Leases (Notes)

12 Months Ended

Dec. 31, 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 consolidated balance sheets. Leases with an initial term greater than 12 months are recognized in our 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 December 31, 2019 (in thousands):



		As of
	Classification	December 31, 2019
Assets
Operating lease assets	Operating lease assets	48,682
Finance lease assets	Property and equipment, net of accumulated depreciation	2,085
Total lease assets		50,767
Liabilities
Current
Operating	Accrued liabilities	12,538
Finance	Current portion of long-term debt	717
Noncurrent
Operating	Operating lease liabilities	49,938
Finance	Long-term debt, net of current portion	1,324
Total lease liabilities		64,517

The following table summarizes the components of lease expenses for the twelve months ended December 31, 2019 (in thousands):



Lease Cost	Classification	Twelve Months Ended December 31, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	13,675
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	445
Interest on lease liabilities	Interest expense	81
Sublease income	Cost of sales and Selling, general and administrative expenses	(1,635		)
Net lease cost		$	12,566

Total rent expense under operating leases was $13.7 million, $18.3 million and $19.3 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases			Finance Leases			Total
2020	$	16,873		$	806		$	17,679
2021	14,064			806			14,870
2022	10,888			441			11,329
2023	7,550			43			7,593
2024	6,344			19			6,363
Thereafter	25,502			5			25,507
Total lease payments	81,221			2,120			83,341
Less: present value discount	(18,745		)	(79		)	(18,824		)
Present value of lease liabilities	$	62,476		$	2,041		$	64,517

Future minimum lease payments under operating leases as of December 31, 2018 are as follows (in thousands):



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

The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2019:



Lease Term and Discount Rate	December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.8 years
Financing leases	2.8 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 December 31, 2019:



	Twelve Months Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,679
Operating cash flows from finance leases	81
Financing cash flows from finance leases	$	1,197
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,745
Finance leases	1,822
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 December 31, 2019 (in thousands):



		As of
	Classification	December 31, 2019
Assets
Operating lease assets	Operating lease assets	48,682
Finance lease assets	Property and equipment, net of accumulated depreciation	2,085
Total lease assets		50,767
Liabilities
Current
Operating	Accrued liabilities	12,538
Finance	Current portion of long-term debt	717
Noncurrent
Operating	Operating lease liabilities	49,938
Finance	Long-term debt, net of current portion	1,324
Total lease liabilities		64,517

The following table summarizes the components of lease expenses for the twelve months ended December 31, 2019 (in thousands):



Lease Cost	Classification	Twelve Months Ended December 31, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	13,675
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	445
Interest on lease liabilities	Interest expense	81
Sublease income	Cost of sales and Selling, general and administrative expenses	(1,635		)
Net lease cost		$	12,566

Total rent expense under operating leases was $13.7 million, $18.3 million and $19.3 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases			Finance Leases			Total
2020	$	16,873		$	806		$	17,679
2021	14,064			806			14,870
2022	10,888			441			11,329
2023	7,550			43			7,593
2024	6,344			19			6,363
Thereafter	25,502			5			25,507
Total lease payments	81,221			2,120			83,341
Less: present value discount	(18,745		)	(79		)	(18,824		)
Present value of lease liabilities	$	62,476		$	2,041		$	64,517

Future minimum lease payments under operating leases as of December 31, 2018 are as follows (in thousands):



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

The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2019:



Lease Term and Discount Rate	December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.8 years
Financing leases	2.8 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 December 31, 2019:



	Twelve Months Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,679
Operating cash flows from finance leases	81
Financing cash flows from finance leases	$	1,197
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,745
Finance leases	1,822
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

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

The components of loss before income taxes for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	2019			2018			2017
U.S.	$	(532,363	)	$	(285,141	)	$	(3,015	)
Non-U.S.	(36,508		)	(104,613		)	(52,264		)
Loss before income taxes	$	(568,871	)	$	(389,754	)	$	(55,279	)

The components of income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	2019			2018			2017
Current
U.S. federal and state	$	(1,423	)	$	(6,932	)	$	(1,426	)
Non-U.S.	12,594			4,810			5,398
Total current	11,171			(2,122		)	3,972
Deferred
U.S. federal and state	3,580			(21,467		)	6,415
Non-U.S.	(16,565		)	7,915			(6,266		)
Total deferred	(12,985		)	(13,552		)	149
Income tax expense (benefit)	$	(1,814	)	$	(15,674	)	$	4,121

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



	2019					2018					2017
Income tax expense at the statutory rate	$	(119,463	)	(21.0	)%	$	(81,849	)	(21.0	)%	$	(19,348	)	(35.0	)%
State taxes, net of federal tax benefit	(5,846		)	(1.0	)%	(2,564		)	(0.7	)%	(294		)	(0.5	)%
Non-U.S. operations	(4,023		)	(0.7	)%	(10,166		)	(2.6	)%	6,337			11.5	%
Domestic incentives	(633		)	(0.1	)%	(286		)	(0.1	)%	(254		)	(0.5	)%
Prior year federal, non-U.S. and state tax	257			—	%	(2,880		)	(0.7	)%	(1,283		)	(2.3	)%
Nondeductible expenses	348			0.1	%	502			0.1	%	644			1.2	%
Goodwill impairment	27,244			4.8	%	46,051			11.8	%	14,731			26.6	%
Global Tubing acquisition	—			—	%	—			—	%	(9,160		)	(16.6	)%
U.S. tax reform	—			—	%	(15,604		)	(4.0	)%	10,138			18.3	%
Valuation allowance	98,900			17.4	%	50,005			12.8	%	4,523			8.2	%
Other	1,402			0.2	%	1,117			0.4	%	(1,913		)	(3.4	)%
Income tax expense (benefit)	$	(1,814	)	(0.3	)%	$	(15,674	)	(4.0	)%	$	4,121		7.5	%

Our effective tax rate was (0.3)%, (4.0)%, and 7.5% for the years ended December 31, 2019, 2018 and 2017, respectively. For the year ended December 31, 2019, we recognized the following significant items impacting our effective tax rate:


–	$27.2 million of tax expense associated with the impairment of non-tax deductible goodwill, and


–	$98.9 million of tax expense consisting of a full valuation allowance against our deferred tax assets in the U.S, U.K., Germany, Singapore and Saudi Arabia, as further described below under the primary components of deferred taxes.

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

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

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



	2019			2018
Deferred tax assets
Reserves and accruals	$	4,590		$	7,259
Operating lease liabilities	14,912			—
Inventory	16,429			18,694
Stock awards	5,185			5,637
Net operating loss and other tax carryforwards	83,325			66,098
Goodwill and intangible assets	45,528			—
Other	1,150			549
Gross deferred tax assets	171,119			98,237
Valuation allowance	(152,795		)	(54,441		)
Total deferred tax assets	18,324			43,796
Deferred tax liabilities
Property and equipment	(7,733		)	(9,565		)
Operating lease assets	(12,006		)	—
Goodwill and intangible assets	—			(42,502		)
Investment in unconsolidated subsidiary	—			(5,402		)
Prepaid expenses and other	(396		)	(392		)
Total deferred tax liabilities	(20,135		)	(57,861		)
Net deferred tax liabilities	$	(1,811	)	$	(14,065	)

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

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

At December 31, 2019, we had $238.3 million of U.S. net operating loss carryforwards and $7.5 million of state net operating losses. Of these losses, $151.1 million will expire no later than 2037 if they are not utilized prior to that date. The remaining $94.7 million will not expire. We also had $155.4 million of non-U.S. net operating loss carryforwards with indefinite expiration dates. The ultimate realization of income tax benefits for these net operating loss carryforwards depends on our ability to generate sufficient taxable income in the respective taxing jurisdictions. Where we have unrecognized tax benefits in jurisdictions with existing net operating losses, we utilize the unrecognized tax benefits as a source of income to offset such losses. We 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, Singapore and Saudi Arabia.

During 2019, we recognized $98.9 million of tax expense related to the increase in our valuation allowance provided against our deferred tax assets to write down our deferred tax assets in these jurisdictions to what is more likely than not realizable. We increased our valuation allowance related to our U.S. and foreign deferred tax assets by $98.0 million and $0.9 million, respectively. In making such a determination for each of these jurisdictions, we considered all available positive and negative evidence, including our recent history of pretax losses over the prior three year period, the goodwill and intangible asset impairments for various reporting units, the future reversals of existing taxable temporary differences, the projected future taxable income or loss, including the effect of U.S. tax reform, and tax-planning.

Deferred tax liabilities arising from the difference between the financial reporting and income tax bases inherent in our foreign subsidiaries, referred to as outside basis differences, have not been provided for U.S. income tax purposes because we do not intend to sell, liquidate or otherwise trigger the recognition of U.S. taxable income with regard to our investment in these foreign subsidiaries. Determining the amount of U.S. deferred tax liabilities associated with outside basis differences is not practicable at this time.

We file income tax returns in the U.S. as well as in various states and non-U.S. jurisdictions. With few exceptions, we are no longer subject to income tax examination by tax authorities in these jurisdictions prior to 2013.

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



Balance at January 1, 2019	$	13,254
Additional based on tax positions related to prior years	2,069
Additional based on tax positions related to current year	2,057
Reduction based on tax positions related to prior years	(666		)
Settlement with tax authorities	(100		)
Lapse of statute of limitations	(2,048		)
Balance at December 31, 2019	14,566

The total amount of unrecognized tax benefits at December 31, 2019 was $14.6 million, of which it is reasonably possible that $1.8 million could be settled during the next twelve-month period as a result of the conclusion of various tax audits or due to the expiration of the applicable statute of limitations. We estimate that $12.5 million of the unrecognized tax benefits at December 31, 2019, excluding consideration of valuation allowance, would impact our future effective income tax rate, if recognized.

We recognize interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statements of comprehensive loss. As of December 31, 2019 and 2018, we had accrued approximately $0.3 million and $0.3 million in interest and penalties, respectively. During the years ended December 31, 2019 and 2018, we recognized no material change in the interest and penalties related to uncertain tax positions.

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements At December 31, 2019 the Company had no balance outstanding under the Credit Facility, and at 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 the Company’s Senior Notes is estimated using Level 2 inputs in the fair value hierarchy and is based on quoted prices for those or similar instruments. At December 31, 2019, the fair value and the carrying value of the Company’s unsecured Senior Notes approximated $354.0 million and $397.5 million, respectively. At December 31, 2018, the fair value and the carrying value of the Company’s unsecured Senior Notes approximated $362.0 million and $398.1 million, respectively. There were no other significant outstanding financial instruments as of December 31, 2019 and 2018 that required measuring the amounts at fair value on a recurring basis. The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods and there were no transfers between levels of the fair value hierarchy during the year ended December 31, 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

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation In the ordinary course of business, the Company is, and in the future, could be involved in various pending or threatened legal actions, some of which may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are believed to be probable and can be estimated. The reserves accrued at December 31, 2019 and 2018 are immaterial. In the opinion of management, the Company’s ultimate liability, if any, with respect to these actions is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. Asbestos litigation One of our subsidiaries has been named as one of many defendants in a number of product liability claims for alleged exposure to asbestos. These lawsuits are typically filed on behalf of plaintiffs who allege exposure to asbestos, against numerous defendants, often forty or more, who are alleged to have manufactured or distributed products containing asbestos. The injuries alleged by plaintiffs in these cases range from mesothelioma and other cancers to asbestosis. The earliest claims against our subsidiary were filed in New Jersey in 1998, and our subsidiary currently has active cases in Missouri, New Jersey, New York, Illinois, Delaware, and Pennsylvania. These complaints do not typically include requests for a specific amount of damages. Our subsidiary acquired the trademark for the product line in question in 1985. To date, the claims against our subsidiary alleging illnesses due to asbestos have generally been based on products manufactured by the previous owner prior to 1985 that are alleged to have contained asbestos. Many claimants alleging illnesses due to asbestos sue on the basis of exposure prior to 1985, as by that date the hazards of asbestos exposure were well known and asbestos had begun to fall into disuse. Our subsidiary has been successful in obtaining dismissals in most lawsuits without any cash contribution including because the “successor liability” law in most states does not hold a purchaser in good faith liable for the actions of the seller prior to the acquisition date unless the purchaser contractually assumed the liabilities, which our subsidiary did not. There are exceptions to the successor liability doctrine in many states, so there are no assurances that our subsidiary will not be found liable for the actions of its predecessor. The law in other states on so called “successor liability” may be different or ambiguous in this regard, and could also expose our subsidiary to liability. Our subsidiary could also be found liable should a trier of fact reject our subsidiary’s position that it is not responsible for the alleged asbestos injuries. To date, asbestos claims have not had a material adverse effect on our business, financial condition, results of operations, or cash flow, as our annual out-of-pocket costs over the last five years has been less than $200,000. There were fewer than 25 new cases filed against our subsidiary in each of last two years, and a significant number of existing cases were dismissed, settled or otherwise disposed of over the last year. We currently have fewer than 150 lawsuits pending against this subsidiary. Our subsidiary has over $17 million in face amount of insurance per occurrence and over $23 million of aggregate primary insurance coverage. In addition, our subsidiary has over $950 million in face amount of excess coverage applicable to the claims. There can be no guarantee that all of this can be collected due to policy terms and conditions and insurer insolvencies in the past or in the future. In January 2011, we entered into an agreement with seven of our primary insurers under which they have agreed to pay 80% of the costs of handling and settling each asbestos claim against the affected subsidiary. The insurers’ portion of the settlements is funded by our aggregate primary limits, which are eroded only by settlements and not legal fees. Approximately $2.0 million in settlements has been paid by insurers and our subsidiary to date, with approximately $40,000 paid over the course of the last two years. Our subsidiary and the subscribing insurers have the right to withdraw from this agreement, but to date, no party has exercised this right or expressed an intent to do so. Portland Harbor Superfund litigation In May 2009, one of the Company’s subsidiaries (which is presently a dormant company with nominal assets except for rights under insurance policies) was named along with many defendants in a suit filed by the Port of Portland, Oregon seeking reimbursement of costs related to a five-year study of contaminated sediments at the port. In March 2010, the subsidiary also received a notice letter from the Environmental Protection Agency indicating that it had been identified as a potentially responsible party with respect to environmental contamination in the “study area” for the Portland Harbor Superfund Site. Under a 1997 indemnity agreement, the subsidiary is indemnified by a third party with respect to losses relating to environmental contamination. As required under the indemnity agreement, the subsidiary provided notice of these claims, and the indemnitor has assumed responsibility and is providing a defense of the claims. Although the Company believes that it is unlikely that the subsidiary contributed to the contamination at the Portland Harbor Superfund Site, the potential liability of the subsidiary and the ability of the indemnitor to fulfill its indemnity obligations cannot be quantified at this time. Operating leases The Company has operating leases for warehouses, office space, manufacturing facilities and equipment. The leases generally require the Company to pay certain expenses including taxes, insurance, maintenance, and utilities. See Note 9 Leases for further information. Letters of credit and guarantees The Company executes letters of credit in the normal course of business to secure the delivery of product from specific vendors and also to guarantee the Company fulfilling certain performance obligations relating to certain large contracts. At December 31, 2019, the Company had $24.5 million in letters of credit outstanding.

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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



	Year ended December 31,
	2019			2018			2017
Net loss attributable to common stockholders	$	(567,057	)	$	(374,080	)	$	(59,400	)

Basic - weighted average shares outstanding	110,100			108,771			98,689
Dilutive effect of stock options and restricted stock	—			—			—
Diluted - weighted average shares outstanding	110,100			108,771			98,689

Loss per share
Basic	$	(5.15	)	$	(3.44	)	$	(0.60	)
Diluted	$	(5.15	)	$	(3.44	)	$	(0.60	)

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

Stockholders' Equity and Employee Benefit Plans	12 Months Ended
Stockholders' Equity and Employee Benefit Plans	Dec. 31, 2019
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Stockholders' Equity and Employee Benefit Plans	Stockholders' Equity and Employee Benefit Plans Shares issued for Acquisition On January 9, 2017, the Company issued 196,249 shares of common stock to acquire 100% of the general partnership interests of Innovative Valve Components. On October 2, 2017, the Company issued 11.5 million shares of common stock to acquire the remaining membership interests in Global Tubing. Refer to Note 4 Acquisitions & Dispositions for further details on these acquisitions. Employee benefit plans We sponsor a 401(k) savings plan for U.S. employees and related savings plans for certain non-U.S. employees. These plans benefit eligible employees by allowing them the opportunity to make contributions up to certain limits. We contribute by matching a percentage of each employee’s contributions. Subsequent to the closing of all acquisitions, employees of those acquired entities will generally be eligible to participate in the Company’s 401(k) savings plan. We also have the discretion to provide a profit sharing contribution to each participant depending on the Company’s performance for the applicable year. The expense under the Company’s plan was $5.8 million, $6.2 million, and $5.4 million for the years ended December 31, 2019, 2018 and 2017, respectively. We have an Employee Stock Purchase Plan, which allows eligible employees to purchase shares of the Company’s common stock at six-month intervals through periodic payroll deductions at a price per share equal to 85.0% of the lower of the fair market value at the beginning and ending of the six-month intervals. Following the fourth quarter of 2019, this plan was suspended. Stock repurchases In October 2014, the board of directors approved a program for the repurchase of outstanding shares of the Company’s common stock with an aggregate purchase price of up to $150.0 million. We have repurchased approximately 4.5 million shares (primarily in 2014) under this program for aggregate consideration of approximately $100.2 million.

Stock Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock Based Compensation

FET stock based compensation plan

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

In May 2016, we created a new 2016 Stock and Incentive Plan (the “2016 Plan”). Under the terms of the 2016 Plan, the aggregate number of shares that may be issued may not exceed the number of shares reserved but not issued under the 2010 Plan as of May 17, 2016, the effective date of the 2016 plan, a total of 5.7 million shares. No further awards will be made under the 2010 Plan after such date, and outstanding awards granted under the 2010 Plan shall continue to be outstanding. In May 2019, we amended and restated the 2016 Plan to add an additional 2.9 million shares and revised certain terms of the 2016 Plan (the “2016 Amended Plan”). Approximately 4.8 million shares remained available under the 2016 Amended Plan for future grants as of December 31, 2019.

The total amount of stock based compensation expense recorded was approximately $15.8 million, $19.9 million and $20.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, the Company expects to record stock based compensation expense of approximately $19.2 million over a weighted average remaining term of approximately two years. Future grants will result in additional compensation expense.

Stock options

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



2019 Activity	Number of shares (in thousands)		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value (in millions)
Beginning balance	5,740		$	12.39	3.7	$	—
Granted	—		$	—
Exercised	—		$	—
Forfeited/expired	(364	)	$	13.05
Total outstanding	5,376		$	12.35	2.5	$	—
Options exercisable	5,033		$	12.29	2.2	$	—

The intrinsic value is the amount by which the fair value of the underlying share exceeds the exercise price of the stock option. No stock options were exercised in 2019. The intrinsic value of stock options exercised in 2018 and 2017 was $0.2 million and $1.6 million, respectively.

As of December 31, 2019 and 2018, the share price of the Company was less than the exercise price for all outstanding stock options. Therefore, the intrinsic value for stock options outstanding and exercisable were both zero.

No stock options were granted in 2019. The assumptions used in the Black-Scholes pricing model to estimate the fair value of stock options granted in 2018 and 2017 are as follows:



	2019	2018	2017
Weighted average fair value	n/a	$5.62	$8.95
Assumptions
Expected life (in years)	n/a	6.25	6.25
Volatility	n/a	44%	43%
Dividend yield	n/a	—%	—%
Risk free interest rate	n/a	2.74%	2.11%

Restricted stock

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



2019 Activity	Restricted stock (shares in thousands)
Nonvested at beginning of year	195
Granted	150
Vested	(135	)
Forfeited	(2	)
Nonvested at the end of year	208

The weighted average grant date fair value of the restricted stock was $6.59, $12.00 and $19.00 per share during the years ended December 31, 2019, 2018 and 2017, respectively. The total fair value of shares vested was $1.5 million during 2019, $1.7 million during 2018 and $2.3 million during 2017.

Restricted stock units

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



2019 Activity	Restricted stock units (shares in thousands)
Nonvested at beginning of year	2,455
Granted	1,227
Vested	(905	)
Forfeited	(588	)
Nonvested at the end of year	2,189

The weighted average grant date fair value of the restricted stock units was $6.54, $10.54 and $17.97 per share during the years ended December 31, 2019, 2018 and 2017, respectively. The total fair value of units vested was $11.8 million, $14.2 million, and $10.0 million during 2019, 2018 and 2017, respectively.

Performance share awards

During 2019, we granted 390,896 performance share awards with service-vesting and market-vesting conditions. These awards may settle between zero and two shares of the Company’s common stock for each performance share unit awarded. The number of shares issued for the 2019 performance share awards will be determined based on the

total shareholder return of the Company’s common stock as compared to a group of peer companies measured over a three-year performance period.

Stock appreciation rights

In the fourth quarter of 2019, we granted stock appreciation rights with service-vesting and market-vesting conditions. The following table provides additional information related to our stock appreciation rights:



2019 Activity	Stock Appreciation Rights (in thousands)
Nonvested at beginning of year	—
Granted	6,352
Forfeited	—
Nonvested at the end of year	6,352

The grant date fair value of the stock appreciation rights was $0.19. The stock appreciation rights will vest on the third anniversary from the grant date if the average closing price of a share of our Common Stock over the twenty trading days prior to the third anniversary date (the “Ending Market Value”) is equal to or greater than $5.00. If vested, the stock appreciation rights will ultimately be settled for the difference between the Ending Market Value and the exercise price of $1.45. The stock appreciation rights, if vested, may be settled in stock or cash. If vested, we intend to settle the stock appreciation rights in stock.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has sold and purchased inventory, services and fixed assets to and from various affiliates of certain directors. The dollar amounts related to these related party activities are not significant to our consolidated financial statements.

Business Segments

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Business Segments

In the first quarter of 2019, we changed our reporting segments 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, and we believe that this reporting segment structure better aligns with the key phases of the well cycle and provides improved operating efficiencies. Prior to this change, 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 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 coiled tubing, stimulation and intervention markets. The Production segment designs, manufactures and supplies products, and provides related equipment and services for production and infrastructure markets.

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

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



	Year ended December 31,
	2019			2018			2017
Revenue:
Drilling & Downhole	$	334,829		$	334,019		$	310,523
Completions	305,089			373,107			184,182
Production	320,996			361,407			327,287
Eliminations	(4,381		)	(4,314		)	(3,372		)
Total revenue	$	956,533		$	1,064,219		$	818,620

Segment operating income (loss):
Drilling & Downhole	$	7,343		$	(33,335	)	$	(47,106	)
Completions	6,581			31,924			8,797
Production	7,802			6,022			7,811
Corporate	(28,928		)	(35,079		)	(33,427		)
Total segment operating loss	(7,202		)	(30,468		)	(63,925		)
Impairments of goodwill, intangible assets, property and equipment	532,336			363,522			69,062
Transaction expenses	1,159			3,446			6,511
Contingent consideration benefit	(4,629		)	—			—
Loss (gain) on disposal of assets and other	78			(438		)	2,097
Operating loss	$	(536,146	)	$	(396,998	)	$	(141,595	)

Depreciation and amortization
Drilling & Downhole	$	21,433		$	31,985		$	38,463
Completions	32,780			33,943			17,631
Production	8,478			8,407			8,608
Corporate	550			173			427
Total depreciation and amortization	$	63,241		$	74,508		$	65,129

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



	Year ended December 31,
Capital expenditures	2019		2018		2017
Drilling & Downhole	$	3,169	$	8,067	$	7,093
Completions	3,886		4,997		4,789
Production	4,041		4,877		6,855
Corporate	4,006		6,102		7,972
Total capital expenditures	$	15,102	$	24,043	$	26,709

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



	Year ended December 31,
Assets	2019		2018		2017
Drilling & Downhole	$	407,779	$	663,414	$	1,057,378
Completions	496,714		872,731		790,255
Production	186,786		243,354		251,685
Corporate	68,718		50,153		95,910
Total assets	$	1,159,997	$	1,829,652	$	2,195,228

Corporate assets primarily include cash, certain prepaid expenses and deferred loan costs.

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



	Year ended December 31,
Long-lived assets:	2019		2018		2017
United States	$	397,219	$	868,295	$	1,087,381
Europe	54,519		100,451		213,008
Canada	32,703		87,221		88,280
Asia-Pacific	1,707		984		7,984
Middle East	5,653		6,049		7,362
Latin America	2,279		635		832
Total long-lived assets	$	494,080	$	1,063,635	$	1,404,847

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



	Year ended December 31,
	2019				2018				2017
Revenue:	$		%		$		%		$		%
United States	$	670,205	70.1	%	$	811,724	76.3	%	$	621,445	76.0	%
Canada	62,651		6.5	%	68,635		6.4	%	60,898		7.4	%
Europe & Africa	71,527		7.5	%	57,632		5.4	%	61,134		7.5	%
Middle East	62,169		6.5	%	54,541		5.1	%	25,634		3.1	%
Asia-Pacific	59,517		6.2	%	46,503		4.4	%	28,694		3.5	%
Latin America	30,464		3.2	%	25,184		2.4	%	20,815		2.5	%
Total Revenue	$	956,533	100.0	%	$	1,064,219	100.0	%	$	818,620	100.0	%

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



	Year ended December 31,
	2019					2018					2017
Revenue:	$			%		$			%		$			%
Drilling Technologies	$	157,648		16.6	%	$	178,260		16.6	%	$	168,816		20.6	%
Downhole Technologies	116,104			12.1	%	104,974			9.9	%	76,010			9.3	%
Subsea Technologies	61,077			6.4	%	50,785			4.8	%	65,697			8.0	%
Stimulation and Intervention	162,025			16.9	%	228,721			21.5	%	148,666			18.2	%
Coiled Tubing	143,064			15.0	%	144,386			13.6	%	35,516			4.3	%
Production Equipment	122,654			12.8	%	141,169			13.3	%	124,323			15.2	%
Valve Solutions	198,342			20.7	%	220,238			20.7	%	202,964			24.8	%
Eliminations	(4,381		)	(0.5	)%	(4,314		)	(0.4	)%	(3,372		)	(0.4	)%
Total revenue	$	956,533		100.0	%	$	1,064,219		100.0	%	$	818,620		100.0	%

Condensed Consolidating Financial Statements

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Financial Statements

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



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2019
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	811,566		$	211,665		$	(66,698	)	$	956,533
Cost of sales	—			614,429			162,715			(65,463		)	711,681
Gross Profit	—			197,137			48,950			(1,235		)	244,852
Operating Expenses
Selling, general and administrative expenses	69			208,862			42,805			—			251,736
Goodwill and intangible assets impairment	—			487,212			45,124			—			532,336
Transaction Expenses	—			1,067			92			—			1,159
Contingent consideration benefit	—			(4,629		)	—			—			(4,629		)
Loss (gain) on disposal of assets and other	—			201			(123		)	—			78
Total operating expenses	69			692,713			87,898			—			780,680
Earnings (loss) from equity investment	—			(668		)	350			—			(318		)
Equity loss from affiliate, net of tax	(535,435		)	(53,778		)	—			589,213			—
Operating loss	(535,504		)	(550,022		)	(38,598		)	587,978			(536,146		)
Other expense (income)
Interest expense (income)	31,553			(84		)	149			—			31,618
Foreign exchange and other losses (gains), net	—			(138		)	5,160			—			5,022
(Gain) loss realized on previously held equity investment	—			(14,045		)	12,478			—			(1,567		)
Gain on disposition of Business	—			(2,348		)	—			—			(2,348		)
Total other (income) expense, net	31,553			(16,615		)	17,787			—			32,725
Loss before income taxes	(567,057		)	(533,407		)	(56,385		)	587,978			(568,871		)
Income tax expense (benefit)	—			2,028			(3,842		)	—			(1,814		)
Net loss	(567,057		)	(535,435		)	(52,543		)	587,978			(567,057		)

Other comprehensive income (loss), net of tax:
Net loss	(567,057		)	(535,435		)	(52,543		)	587,978			(567,057		)
Change in foreign currency translation, net of tax of $0	7,958			7,958			7,958			(15,916		)	7,958
Loss on pension liability	(1,666		)	(1,666		)	(1,666		)	3,332			(1,666		)
Comprehensive loss	$	(560,765	)	$	(529,143	)	$	(46,251	)	$	575,394		$	(560,765	)



Condensed consolidating statements of comprehensive loss

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

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



Condensed consolidating statements of comprehensive loss

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

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



Condensed consolidating balance sheets

	December 31, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	32,387	$	25,524	$	—		$	57,911
Accounts receivable—trade, net	—		116,862		37,320		—			154,182
Inventories, net	—		344,920		78,047		(8,327		)	414,640
Prepaid expenses and other current assets	—		31,485		2,335		—			33,820
Costs and estimated profits in excess of billings	—		4,029		75		—			4,104
Accrued revenue	—		428		832		—			1,260
Total current assets	—		530,111		144,133		(8,327		)	665,917
Property and equipment, net of accumulated depreciation	—		133,974		20,862		—			154,836
Deferred financing costs, net	1,243		—		—		—			1,243
Operating lease assets	—		29,518		19,164		—			48,682
Intangible assets	—		245,507		26,793		—			272,300
Goodwill	—		—		—		—			—
Investment in unconsolidated subsidiary	—		—		—		—			—
Deferred income taxes, net	—		—		654		—			654
Other long-term assets	—		6,682		9,683		—			16,365
Investment in affiliates	348,623		218,228		—		(566,851		)	—
Long-term advances to affiliates	541,351		—		116,053		(657,404		)	—
Total assets	$	891,217	$	1,164,020	$	337,342	$	(1,232,582	)	$	1,159,997
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	566	$	151	$	—		$	717
Accounts payable—trade	—		75,999		22,721		—			98,720
Accrued liabilities	7,640		35,746		43,239		—			86,625
Deferred revenue	—		1,616		3,261		—			4,877
Billings in excess of costs and profits recognized	—		787		5,124		—			5,911
Total current liabilities	7,640		114,714		74,496		—			196,850
Long-term debt, net of current portion	397,538		1,128		196		—			398,862
Deferred income taxes, net	—		—		2,465		—			2,465
Operating Lease liabilities	—		29,896		20,042		—			49,938
Other long-term liabilities	—		12,255		13,588		—			25,843
Long-term payables to affiliates	—		657,404		—		(657,404		)	—
Total liabilities	405,178		815,397		110,787		(657,404		)	673,958
										—
Total equity	486,039		348,623		226,555		(575,178		)	486,039
Total liabilities and equity	$	891,217	$	1,164,020	$	337,342	$	(1,232,582	)	$	1,159,997



Condensed consolidating balance sheets

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

Total equity	1,030,126		877,764		272,806		(1,150,570		)	1,030,126
Total liabilities and equity	$	1,554,055	$	1,831,192	$	367,727	$	(1,923,322	)	$	1,829,652



Condensed consolidating statements of cash flows

	Year ended December 31, 2019
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(28,883	)	$	143,219		$	(10,192	)	$	—		$	104,144
Cash flows from investing activities
Capital expenditures for property and equipment	—			(13,619		)	(1,483		)	—			(15,102		)
Acquisition of businesses, net of cash acquired	—			—			—			—			—
Investment in unconsolidated subsidiary	—			—			—			—			—
Proceeds from sale of business, property and equipment	—			18,522			24,715			—			43,237
Long-term loans and advances to affiliates	148,977			—			(10,362		)	(138,615		)	—
Net cash provided by investing activities	148,977			4,903			12,870			(138,615		)	28,135
Cash flows from financing activities
Borrowings of debt	137,000			—			—			—			137,000
Repayments of debt	(256,000		)	(900		)	—			—			(256,900		)
Repurchases of stock	(1,094		)	—			—			—			(1,094		)
Proceeds from stock issuance	—			—			—			—			—
Payment of capital lease obligations	—			(1,197		)	—			—			(1,197		)
Long-term loans and advances to affiliates	—			(138,615		)	—			138,615			—
Dividend paid to affiliates	—			—			—			—			—
Net cash used in financing activities	(120,094		)	(140,712		)	—			138,615			(122,191		)

Effect of exchange rate changes on cash	—			—			582			—			582

Net increase in cash, cash equivalents and restricted cash	—			7,410			3,260			—			10,670
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	$	—		$	32,387		$	25,524		$	—		$	57,911



Condensed consolidating statements of cash flows

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

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

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



Condensed consolidating statements of cash flows

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

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

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

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

The following tables summarize the Company’s results by quarter for the years ended December 31, 2019 and 2018. The quarterly results may not be comparable primarily due to acquisitions and dispositions in 2019, 2018 and 2017. Refer to Note 4 Acquisitions & Dispositions for further information.



	2019
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	271,842		$	245,648		$	239,266		$	199,777
Cost of sales	201,744			182,460			176,632			150,845
Gross profit	70,098			63,188			62,634			48,932
Total operating expenses (1)	64,952			63,022			595,954			56,752
Earnings (loss) from equity investment	(849		)	570			(39		)	—
Operating income (loss)	4,297			736			(533,359		)	(7,820		)
Total other expense, net (2)	10,458			6,077			2,999			13,191
Loss before income taxes	(6,161		)	(5,341		)	(536,358		)	(21,011		)
Income tax expense (benefit)	1,727			8,393			(3,371		)	(8,563		)
Net loss	(7,888		)	(13,734		)	(532,987		)	(12,448		)

Weighted average shares outstanding
Basic	109,643			109,987			110,295			110,464
Diluted	109,643			109,987			110,295			110,464
Loss per share
Basic	$	(0.07	)	$	(0.12	)	$	(4.83	)	$	(0.11	)
Diluted	$	(0.07	)	$	(0.12	)	$	(4.83	)	$	(0.11	)

(1)

Q1 includes a $4.6 million contingent consideration benefit related to GHT. See Note 4 Acquisitions & Dispositions for further information related to this benefit. Q3 includes $471.0 million of goodwill impairments, $53.5 million of intangible asset impairments and $7.9 million of property and equipment impairments. See Note 7 Goodwill and Intangible Assets and Note 6 Property and Equipment for further information related to these charges.


(2)	Q3 includes a $1.6 million gain realized on the sale of our previously held equity investment in Ashtead. Q4 includes a 2.3 million gain on the sale of certain assets of our Cooper Alloy^® brand of valve products. See Note 4 Acquisitions & Dispositions for further information related to these gains.



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

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


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

(2)

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

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of presentation

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

Principles of consolidation

Use of estimates

Cash and cash equivalents

Accounts receivable-trade

Inventories

Property and equipment

No significant impairment charges were recorded for the years ended December 31, 2018 and 2017.

Goodwill and intangible assets

Recognition of provisions for contingencies

Revenue recognition and deferred revenue

Disaggregated Revenue. Refer to Note 17 Business Segments for disaggregated revenue by product line and geography.

Concentration of credit risk

Stock based compensation

Expected life

The expected term of stock options represents the period the stock options are expected to remain outstanding.

Expected volatility

Dividend yield

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

Risk-free interest rate

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

Forfeitures

Forfeitures are accounted for as they occur.

Income taxes

Non-U.S. local currency translation

Fair value


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


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


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

Recent accounting pronouncements

Accounting Standards Adopted in 2019


•	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.

Accounting Standards Issued But Not Yet Adopted

The Company is currently evaluating the impact of adopting ASU No. 2016-13 and is in the process of:


•	reviewing 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.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Allowance for Doubtful Accounts

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2019 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2017	$	3,331	$	2,903	$	(439	)	$	5,795
December 31, 2018	5,795		3,342		(1,705		)	7,432
December 31, 2019	7,432		3,152		(1,536		)	9,048

Revenues (Tables)

12 Months Ended

Dec. 31, 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 year ended December 31, 2019:



	December 31, 2019		December 31, 2018		Decrease
	December 31, 2019		December 31, 2018		$			%
Accrued revenue	$	1,260	$	862
Costs and estimated profits in excess of billings	4,104		9,159
Contract assets	$	5,364	$	10,021	$	(4,657	)	(46	)%

Deferred revenue	$	4,877	$	8,335
Billings in excess of costs and profits recognized	5,911		3,210
Contract liabilities	$	10,788	$	11,545	$	(757	)	(7	)%

Acquisitions & Dispositions (Tables)

12 Months Ended

Dec. 31, 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

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



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

Business Acquisition, Pro Forma Information

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



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

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s significant components of inventory at December 31, 2019 and 2018 were as follows (in thousands):



	December 31, 2019			December 31, 2018
Raw materials and parts	$	172,083		$	212,526
Work in process	29,972			39,494
Finished goods	278,660			302,590
Gross inventories	480,715			554,610
Inventory reserve	(66,075		)	(75,587		)
Inventories	$	414,640		$	479,023

Schedule of Inventory Reserve

The change in the amounts of the inventory reserve during the three year period ended December 31, 2019 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2017	$	68,352	$	14,620	$	(8,654	)	$	74,318
December 31, 2018	74,318		36,606		(35,337		)	$	75,587
December 31, 2019	75,587		10,324		(19,836		)	$	66,075

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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



	Estimated useful lives	December 31,
	Estimated useful lives	2019			2018
Land		$	9,870		$	9,755
Buildings and leasehold improvements	5-30	103,383			103,761
Computer equipment	3-5	55,941			54,721
Machinery & equipment	5-10	166,123			162,110
Furniture & fixtures	3-10	6,731			6,631
Vehicles	3-5	5,382			6,160
Right of use assets - finance leases	2-6	2,528			—
Construction in progress		3,663			9,155
		353,621			352,293
Less: accumulated depreciation		(199,210		)	(180,717		)
Property and equipment, net		154,411			171,576

Rental equipment	3-10	3,779			9,535
Less: accumulated depreciation		(3,354		)	(3,753		)
Rental equipment, net		425			5,782

Total property and equipment, net		$	154,836		$	177,358

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

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



	Drilling & Downhole			Completions			Production			Total
Goodwill balance at December 31, 2017	$	494,983		$	240,816		$	19,446		$	755,245
Acquisitions, net of dispositions	1,753			20,559			—			22,312
Impairment	(298,789		)	—			—			(298,789		)
Impact of non-U.S. local currency translation	(6,796		)	(2,095		)	(230		)	(9,121		)
Goodwill balance at December 31, 2018	191,151			259,280			19,216			469,647
Acquisitions, net of dispositions	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 December 31, 2019	$	—		$	—		$	—		$	—

Summary of Intangible Assets

At December 31, 2019 and 2018, intangible assets consisted of the following, respectively (in thousands):



	December 31, 2019
	Gross carrying amount		Accumulated amortization			Net intangibles		Amortization period (in years)
Customer relationships	$	281,052	$	(110,410	)	$	170,642	10 - 15
Patents and technology	92,498		(20,819		)	71,679		5 - 19
Non-compete agreements	190		(100		)	90		2 - 6
Trade names	43,284		(21,015		)	22,269		7 - 19
Distributor relationships	22,160		(18,866		)	3,294		15 - 22
Trademark	5,089		(763		)	4,326		15
Intangible Assets Total	$	444,273	$	(171,973	)	$	272,300



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

Schedule of Future Amortization Expense

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



Year ending December 31,	Amount
2020	$	27,974
2021	26,951
2022	25,976
2023	24,413
2024	22,872

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

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



	December 31, 2019			December 31, 2018
6.25% Senior notes due October 2021	$	400,000		$	400,000
Unamortized debt premium	770			1,176
Debt issuance cost	(3,232		)	(3,121		)
Senior secured revolving credit facility	—			119,000
Other debt	2,041			1,656
Total debt	399,579			518,711
Less: current maturities	(717		)	(1,167		)
Long-term debt	$	398,862		$	517,544

Schedule of Maturities of Long-term Debt

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



2020	$	806
2021	400,806
2022	441
2023	43
2024	19
Thereafter	5
Total future payment	$	402,120
Add: Unamortized debt premium	770
Less: Debt issuance cost	(3,232		)
Less: present value discount on finance leases	$	(79	)
Total debt	$	399,579

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Lease Assets and Liabilities

The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2019 (in thousands):



		As of
	Classification	December 31, 2019
Assets
Operating lease assets	Operating lease assets	48,682
Finance lease assets	Property and equipment, net of accumulated depreciation	2,085
Total lease assets		50,767
Liabilities
Current
Operating	Accrued liabilities	12,538
Finance	Current portion of long-term debt	717
Noncurrent
Operating	Operating lease liabilities	49,938
Finance	Long-term debt, net of current portion	1,324
Total lease liabilities		64,517

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 twelve months ended December 31, 2019 (in thousands):



Lease Cost	Classification	Twelve Months Ended December 31, 2019
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	13,675
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	445
Interest on lease liabilities	Interest expense	81
Sublease income	Cost of sales and Selling, general and administrative expenses	(1,635		)
Net lease cost		$	12,566

Schedule of Operating Lease Liability Maturity

The maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases			Finance Leases			Total
2020	$	16,873		$	806		$	17,679
2021	14,064			806			14,870
2022	10,888			441			11,329
2023	7,550			43			7,593
2024	6,344			19			6,363
Thereafter	25,502			5			25,507
Total lease payments	81,221			2,120			83,341
Less: present value discount	(18,745		)	(79		)	(18,824		)
Present value of lease liabilities	$	62,476		$	2,041		$	64,517

Schedule of Finance Lease Liability Maturity

The maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases			Finance Leases			Total
2020	$	16,873		$	806		$	17,679
2021	14,064			806			14,870
2022	10,888			441			11,329
2023	7,550			43			7,593
2024	6,344			19			6,363
Thereafter	25,502			5			25,507
Total lease payments	81,221			2,120			83,341
Less: present value discount	(18,745		)	(79		)	(18,824		)
Present value of lease liabilities	$	62,476		$	2,041		$	64,517

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under operating leases as of December 31, 2018 are as follows (in thousands):



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

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 December 31, 2019:



Lease Term and Discount Rate	December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.8 years
Financing leases	2.8 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 December 31, 2019:



	Twelve Months Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,679
Operating cash flows from finance leases	81
Financing cash flows from finance leases	$	1,197
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,745
Finance leases	1,822
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 (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of loss before income taxes for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	2019			2018			2017
U.S.	$	(532,363	)	$	(285,141	)	$	(3,015	)
Non-U.S.	(36,508		)	(104,613		)	(52,264		)
Loss before income taxes	$	(568,871	)	$	(389,754	)	$	(55,279	)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	2019			2018			2017
Current
U.S. federal and state	$	(1,423	)	$	(6,932	)	$	(1,426	)
Non-U.S.	12,594			4,810			5,398
Total current	11,171			(2,122		)	3,972
Deferred
U.S. federal and state	3,580			(21,467		)	6,415
Non-U.S.	(16,565		)	7,915			(6,266		)
Total deferred	(12,985		)	(13,552		)	149
Income tax expense (benefit)	$	(1,814	)	$	(15,674	)	$	4,121

Schedule of Effective Income Tax Rate Reconciliation



	2019					2018					2017
Income tax expense at the statutory rate	$	(119,463	)	(21.0	)%	$	(81,849	)	(21.0	)%	$	(19,348	)	(35.0	)%
State taxes, net of federal tax benefit	(5,846		)	(1.0	)%	(2,564		)	(0.7	)%	(294		)	(0.5	)%
Non-U.S. operations	(4,023		)	(0.7	)%	(10,166		)	(2.6	)%	6,337			11.5	%
Domestic incentives	(633		)	(0.1	)%	(286		)	(0.1	)%	(254		)	(0.5	)%
Prior year federal, non-U.S. and state tax	257			—	%	(2,880		)	(0.7	)%	(1,283		)	(2.3	)%
Nondeductible expenses	348			0.1	%	502			0.1	%	644			1.2	%
Goodwill impairment	27,244			4.8	%	46,051			11.8	%	14,731			26.6	%
Global Tubing acquisition	—			—	%	—			—	%	(9,160		)	(16.6	)%
U.S. tax reform	—			—	%	(15,604		)	(4.0	)%	10,138			18.3	%
Valuation allowance	98,900			17.4	%	50,005			12.8	%	4,523			8.2	%
Other	1,402			0.2	%	1,117			0.4	%	(1,913		)	(3.4	)%
Income tax expense (benefit)	$	(1,814	)	(0.3	)%	$	(15,674	)	(4.0	)%	$	4,121		7.5	%

Schedule of Deferred Tax Assets and Liabilities

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



	2019			2018
Deferred tax assets
Reserves and accruals	$	4,590		$	7,259
Operating lease liabilities	14,912			—
Inventory	16,429			18,694
Stock awards	5,185			5,637
Net operating loss and other tax carryforwards	83,325			66,098
Goodwill and intangible assets	45,528			—
Other	1,150			549
Gross deferred tax assets	171,119			98,237
Valuation allowance	(152,795		)	(54,441		)
Total deferred tax assets	18,324			43,796
Deferred tax liabilities
Property and equipment	(7,733		)	(9,565		)
Operating lease assets	(12,006		)	—
Goodwill and intangible assets	—			(42,502		)
Investment in unconsolidated subsidiary	—			(5,402		)
Prepaid expenses and other	(396		)	(392		)
Total deferred tax liabilities	(20,135		)	(57,861		)
Net deferred tax liabilities	$	(1,811	)	$	(14,065	)

Schedule of Unrecognized Tax Benefits Roll Forward

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



Balance at January 1, 2019	$	13,254
Additional based on tax positions related to prior years	2,069
Additional based on tax positions related to current year	2,057
Reduction based on tax positions related to prior years	(666		)
Settlement with tax authorities	(100		)
Lapse of statute of limitations	(2,048		)
Balance at December 31, 2019	14,566

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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



	Year ended December 31,
	2019			2018			2017
Net loss attributable to common stockholders	$	(567,057	)	$	(374,080	)	$	(59,400	)

Basic - weighted average shares outstanding	110,100			108,771			98,689
Dilutive effect of stock options and restricted stock	—			—			—
Diluted - weighted average shares outstanding	110,100			108,771			98,689

Loss per share
Basic	$	(5.15	)	$	(3.44	)	$	(0.60	)
Diluted	$	(5.15	)	$	(3.44	)	$	(0.60	)

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following tables provide additional information related to stock options:



2019 Activity	Number of shares (in thousands)		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value (in millions)
Beginning balance	5,740		$	12.39	3.7	$	—
Granted	—		$	—
Exercised	—		$	—
Forfeited/expired	(364	)	$	13.05
Total outstanding	5,376		$	12.35	2.5	$	—
Options exercisable	5,033		$	12.29	2.2	$	—

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

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



	2019	2018	2017
Weighted average fair value	n/a	$5.62	$8.95
Assumptions
Expected life (in years)	n/a	6.25	6.25
Volatility	n/a	44%	43%
Dividend yield	n/a	—%	—%
Risk free interest rate	n/a	2.74%	2.11%

Schedule of Nonvested Restricted Stock Shares Activity

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



2019 Activity	Restricted stock units (shares in thousands)
Nonvested at beginning of year	2,455
Granted	1,227
Vested	(905	)
Forfeited	(588	)
Nonvested at the end of year	2,189

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



2019 Activity	Restricted stock (shares in thousands)
Nonvested at beginning of year	195
Granted	150
Vested	(135	)
Forfeited	(2	)
Nonvested at the end of year	208

Schedule of Stock Appreciation Rights

The following table provides additional information related to our stock appreciation rights:



2019 Activity	Stock Appreciation Rights (in thousands)
Nonvested at beginning of year	—
Granted	6,352
Forfeited	—
Nonvested at the end of year	6,352

Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2019			2018			2017
Revenue:
Drilling & Downhole	$	334,829		$	334,019		$	310,523
Completions	305,089			373,107			184,182
Production	320,996			361,407			327,287
Eliminations	(4,381		)	(4,314		)	(3,372		)
Total revenue	$	956,533		$	1,064,219		$	818,620

Segment operating income (loss):
Drilling & Downhole	$	7,343		$	(33,335	)	$	(47,106	)
Completions	6,581			31,924			8,797
Production	7,802			6,022			7,811
Corporate	(28,928		)	(35,079		)	(33,427		)
Total segment operating loss	(7,202		)	(30,468		)	(63,925		)
Impairments of goodwill, intangible assets, property and equipment	532,336			363,522			69,062
Transaction expenses	1,159			3,446			6,511
Contingent consideration benefit	(4,629		)	—			—
Loss (gain) on disposal of assets and other	78			(438		)	2,097
Operating loss	$	(536,146	)	$	(396,998	)	$	(141,595	)

Depreciation and amortization
Drilling & Downhole	$	21,433		$	31,985		$	38,463
Completions	32,780			33,943			17,631
Production	8,478			8,407			8,608
Corporate	550			173			427
Total depreciation and amortization	$	63,241		$	74,508		$	65,129

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



	Year ended December 31,
Capital expenditures	2019		2018		2017
Drilling & Downhole	$	3,169	$	8,067	$	7,093
Completions	3,886		4,997		4,789
Production	4,041		4,877		6,855
Corporate	4,006		6,102		7,972
Total capital expenditures	$	15,102	$	24,043	$	26,709

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



	Year ended December 31,
Assets	2019		2018		2017
Drilling & Downhole	$	407,779	$	663,414	$	1,057,378
Completions	496,714		872,731		790,255
Production	186,786		243,354		251,685
Corporate	68,718		50,153		95,910
Total assets	$	1,159,997	$	1,829,652	$	2,195,228

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

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



	Year ended December 31,
Long-lived assets:	2019		2018		2017
United States	$	397,219	$	868,295	$	1,087,381
Europe	54,519		100,451		213,008
Canada	32,703		87,221		88,280
Asia-Pacific	1,707		984		7,984
Middle East	5,653		6,049		7,362
Latin America	2,279		635		832
Total long-lived assets	$	494,080	$	1,063,635	$	1,404,847

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



	Year ended December 31,
	2019				2018				2017
Revenue:	$		%		$		%		$		%
United States	$	670,205	70.1	%	$	811,724	76.3	%	$	621,445	76.0	%
Canada	62,651		6.5	%	68,635		6.4	%	60,898		7.4	%
Europe & Africa	71,527		7.5	%	57,632		5.4	%	61,134		7.5	%
Middle East	62,169		6.5	%	54,541		5.1	%	25,634		3.1	%
Asia-Pacific	59,517		6.2	%	46,503		4.4	%	28,694		3.5	%
Latin America	30,464		3.2	%	25,184		2.4	%	20,815		2.5	%
Total Revenue	$	956,533	100.0	%	$	1,064,219	100.0	%	$	818,620	100.0	%

Revenue from External Customers by Products and Services

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



	Year ended December 31,
	2019					2018					2017
Revenue:	$			%		$			%		$			%
Drilling Technologies	$	157,648		16.6	%	$	178,260		16.6	%	$	168,816		20.6	%
Downhole Technologies	116,104			12.1	%	104,974			9.9	%	76,010			9.3	%
Subsea Technologies	61,077			6.4	%	50,785			4.8	%	65,697			8.0	%
Stimulation and Intervention	162,025			16.9	%	228,721			21.5	%	148,666			18.2	%
Coiled Tubing	143,064			15.0	%	144,386			13.6	%	35,516			4.3	%
Production Equipment	122,654			12.8	%	141,169			13.3	%	124,323			15.2	%
Valve Solutions	198,342			20.7	%	220,238			20.7	%	202,964			24.8	%
Eliminations	(4,381		)	(0.5	)%	(4,314		)	(0.4	)%	(3,372		)	(0.4	)%
Total revenue	$	956,533		100.0	%	$	1,064,219		100.0	%	$	818,620		100.0	%

Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed consolidating statements of income and comprehensive income



Condensed consolidating statements of comprehensive loss

	Year ended December 31, 2019
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenue	$	—		$	811,566		$	211,665		$	(66,698	)	$	956,533
Cost of sales	—			614,429			162,715			(65,463		)	711,681
Gross Profit	—			197,137			48,950			(1,235		)	244,852
Operating Expenses
Selling, general and administrative expenses	69			208,862			42,805			—			251,736
Goodwill and intangible assets impairment	—			487,212			45,124			—			532,336
Transaction Expenses	—			1,067			92			—			1,159
Contingent consideration benefit	—			(4,629		)	—			—			(4,629		)
Loss (gain) on disposal of assets and other	—			201			(123		)	—			78
Total operating expenses	69			692,713			87,898			—			780,680
Earnings (loss) from equity investment	—			(668		)	350			—			(318		)
Equity loss from affiliate, net of tax	(535,435		)	(53,778		)	—			589,213			—
Operating loss	(535,504		)	(550,022		)	(38,598		)	587,978			(536,146		)
Other expense (income)
Interest expense (income)	31,553			(84		)	149			—			31,618
Foreign exchange and other losses (gains), net	—			(138		)	5,160			—			5,022
(Gain) loss realized on previously held equity investment	—			(14,045		)	12,478			—			(1,567		)
Gain on disposition of Business	—			(2,348		)	—			—			(2,348		)
Total other (income) expense, net	31,553			(16,615		)	17,787			—			32,725
Loss before income taxes	(567,057		)	(533,407		)	(56,385		)	587,978			(568,871		)
Income tax expense (benefit)	—			2,028			(3,842		)	—			(1,814		)
Net loss	(567,057		)	(535,435		)	(52,543		)	587,978			(567,057		)

Other comprehensive income (loss), net of tax:
Net loss	(567,057		)	(535,435		)	(52,543		)	587,978			(567,057		)
Change in foreign currency translation, net of tax of $0	7,958			7,958			7,958			(15,916		)	7,958
Loss on pension liability	(1,666		)	(1,666		)	(1,666		)	3,332			(1,666		)
Comprehensive loss	$	(560,765	)	$	(529,143	)	$	(46,251	)	$	575,394		$	(560,765	)



Condensed consolidating statements of comprehensive loss

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

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



Condensed consolidating statements of comprehensive loss

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

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

Condensed consolidating balance sheets



Condensed consolidating balance sheets

	December 31, 2019
	FET (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in thousands)
Assets
Current assets
Cash and cash equivalents	$	—	$	32,387	$	25,524	$	—		$	57,911
Accounts receivable—trade, net	—		116,862		37,320		—			154,182
Inventories, net	—		344,920		78,047		(8,327		)	414,640
Prepaid expenses and other current assets	—		31,485		2,335		—			33,820
Costs and estimated profits in excess of billings	—		4,029		75		—			4,104
Accrued revenue	—		428		832		—			1,260
Total current assets	—		530,111		144,133		(8,327		)	665,917
Property and equipment, net of accumulated depreciation	—		133,974		20,862		—			154,836
Deferred financing costs, net	1,243		—		—		—			1,243
Operating lease assets	—		29,518		19,164		—			48,682
Intangible assets	—		245,507		26,793		—			272,300
Goodwill	—		—		—		—			—
Investment in unconsolidated subsidiary	—		—		—		—			—
Deferred income taxes, net	—		—		654		—			654
Other long-term assets	—		6,682		9,683		—			16,365
Investment in affiliates	348,623		218,228		—		(566,851		)	—
Long-term advances to affiliates	541,351		—		116,053		(657,404		)	—
Total assets	$	891,217	$	1,164,020	$	337,342	$	(1,232,582	)	$	1,159,997
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	—	$	566	$	151	$	—		$	717
Accounts payable—trade	—		75,999		22,721		—			98,720
Accrued liabilities	7,640		35,746		43,239		—			86,625
Deferred revenue	—		1,616		3,261		—			4,877
Billings in excess of costs and profits recognized	—		787		5,124		—			5,911
Total current liabilities	7,640		114,714		74,496		—			196,850
Long-term debt, net of current portion	397,538		1,128		196		—			398,862
Deferred income taxes, net	—		—		2,465		—			2,465
Operating Lease liabilities	—		29,896		20,042		—			49,938
Other long-term liabilities	—		12,255		13,588		—			25,843
Long-term payables to affiliates	—		657,404		—		(657,404		)	—
Total liabilities	405,178		815,397		110,787		(657,404		)	673,958
										—
Total equity	486,039		348,623		226,555		(575,178		)	486,039
Total liabilities and equity	$	891,217	$	1,164,020	$	337,342	$	(1,232,582	)	$	1,159,997



Condensed consolidating balance sheets

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

Total equity	1,030,126		877,764		272,806		(1,150,570		)	1,030,126
Total liabilities and equity	$	1,554,055	$	1,831,192	$	367,727	$	(1,923,322	)	$	1,829,652

Condensed consolidating statements of cash flows



Condensed consolidating statements of cash flows

	Year ended December 31, 2019
	FET (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	(28,883	)	$	143,219		$	(10,192	)	$	—		$	104,144
Cash flows from investing activities
Capital expenditures for property and equipment	—			(13,619		)	(1,483		)	—			(15,102		)
Acquisition of businesses, net of cash acquired	—			—			—			—			—
Investment in unconsolidated subsidiary	—			—			—			—			—
Proceeds from sale of business, property and equipment	—			18,522			24,715			—			43,237
Long-term loans and advances to affiliates	148,977			—			(10,362		)	(138,615		)	—
Net cash provided by investing activities	148,977			4,903			12,870			(138,615		)	28,135
Cash flows from financing activities
Borrowings of debt	137,000			—			—			—			137,000
Repayments of debt	(256,000		)	(900		)	—			—			(256,900		)
Repurchases of stock	(1,094		)	—			—			—			(1,094		)
Proceeds from stock issuance	—			—			—			—			—
Payment of capital lease obligations	—			(1,197		)	—			—			(1,197		)
Long-term loans and advances to affiliates	—			(138,615		)	—			138,615			—
Dividend paid to affiliates	—			—			—			—			—
Net cash used in financing activities	(120,094		)	(140,712		)	—			138,615			(122,191		)

Effect of exchange rate changes on cash	—			—			582			—			582

Net increase in cash, cash equivalents and restricted cash	—			7,410			3,260			—			10,670
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	$	—		$	32,387		$	25,524		$	—		$	57,911



Condensed consolidating statements of cash flows

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

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

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



Condensed consolidating statements of cash flows

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

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

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

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	2019
(in thousands, except per share information)	Q1			Q2			Q3			Q4
Revenues	$	271,842		$	245,648		$	239,266		$	199,777
Cost of sales	201,744			182,460			176,632			150,845
Gross profit	70,098			63,188			62,634			48,932
Total operating expenses (1)	64,952			63,022			595,954			56,752
Earnings (loss) from equity investment	(849		)	570			(39		)	—
Operating income (loss)	4,297			736			(533,359		)	(7,820		)
Total other expense, net (2)	10,458			6,077			2,999			13,191
Loss before income taxes	(6,161		)	(5,341		)	(536,358		)	(21,011		)
Income tax expense (benefit)	1,727			8,393			(3,371		)	(8,563		)
Net loss	(7,888		)	(13,734		)	(532,987		)	(12,448		)

Weighted average shares outstanding
Basic	109,643			109,987			110,295			110,464
Diluted	109,643			109,987			110,295			110,464
Loss per share
Basic	$	(0.07	)	$	(0.12	)	$	(4.83	)	$	(0.11	)
Diluted	$	(0.07	)	$	(0.12	)	$	(4.83	)	$	(0.11	)

(1)


(2)	Q3 includes a $1.6 million gain realized on the sale of our previously held equity investment in Ashtead. Q4 includes a 2.3 million gain on the sale of certain assets of our Cooper Alloy^® brand of valve products. See Note 4 Acquisitions & Dispositions for further information related to these gains.



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

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


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

(2)

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

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2019 USD ($) reporting_unit	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 03, 2019	Jan. 01, 2019 USD ($)	Jan. 03, 2018
Property, Plant and Equipment [Line Items]
Impairment charges				$ 7,900
Number of reporting units \| reporting_unit				7
Impairment	$ 471,000			$ 471,010	$ 298,789	$ 68,000
Impairment of intangible assets	$ 53,500	$ 50,200	$ 14,500		64,700	1,100
Percent of revenue from goods and services transferred at point in time				96.00%
Percent of revenue from goods and services transferred over time				4.00%
U.S. tax reform expense (benefit)				$ 0	15,604	$ (10,138)
Operating lease assets		0		48,682	0			$ 54,069
Present value of lease liabilities				62,476				64,506
Allowance for doubtful accounts		$ 7,432		$ 9,048	$ 7,432
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment				3 years
Estimated useful life, intangible assets				2 years
Minimum \| Rental equipment
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment				3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment				30 years
Estimated useful life, intangible assets				22 years
Maximum \| Rental equipment
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment				10 years
Accounting Standards Update 2016-02
Property, Plant and Equipment [Line Items]
Operating lease assets								54,000
Present value of lease liabilities								$ 65,000
Accounting Standards Update 2016-13
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts				$ 4,000
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations \| Ashtead Technology
Property, Plant and Equipment [Line Items]
Equity interest received in sale of business							40.00%		40.00%

Summary of Significant Accounting Policies (Allowance for doubtful accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 7,432	$ 5,795	$ 3,331
Charged to expense	3,152	3,342	2,903
Deductions or other	(1,536)	(1,705)	(439)
Balance at end of period	$ 9,048	$ 7,432	$ 5,795

Revenues (Schedule of Changes in Contract Asset and Contract Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Contract with Customer, Asset, after Allowance for Credit Loss [Abstract]
Accrued revenue	$ 1,260	$ 862
Costs and estimated profits in excess of billings	4,104	9,159
Contract assets	5,364	10,021
Increase (decrease) in contract with customer assets	$ (4,657)
Increase (decrease) in contract with customer assets, percent	(46.00%)
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 4,877	8,335
Billings in excess of costs and profits recognized	5,911	3,210
Contract liabilities	10,788	$ 11,545
Increase (decrease) in contract with customer liabilities	$ (757)
Increase (decrease) in contract with customer liabilities, percent	(7.00%)

Revenues (Narrative) (Details) $ in Thousands	12 Months Ended
Revenues (Narrative) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Increase (decrease) in contract with customer assets	$ (4,657)
Increase (decrease) in contract with customer liabilities	(757)
Revenue recognized	$ 6,500

Acquisitions & Dispositions (Narrative) (Details) $ in Thousands, £ in Millions						3 Months Ended								12 Months Ended			15 Months Ended
	Sep. 03, 2019 USD ($)	Oct. 05, 2018 USD ($)	Jul. 02, 2018 USD ($)	Oct. 02, 2017 USD ($)	Jan. 09, 2017 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 04, 2019 USD ($)	Sep. 03, 2019 GBP (£)	Jan. 03, 2018 USD ($)	Jan. 03, 2018 GBP (£)	Jul. 03, 2017 USD ($)
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired														$ 0	$ 60,622	$ 162,189
Reduction to contingent cash liability														(4,629)	0	0
Cash				$ 31,764
Revenues						$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	956,533	1,064,219	818,620
Net income														(567,057)	(374,080)	(59,400)
Income tax expense at the statutory rate														(119,463)	(81,849)	(19,348)
Contingent shares issued for acquisition of Cooper				173,472										375
Gain on disposition of business														2,348	0	0
Gain on contribution of subsea rentals business													(33,500)	0	$ 33,506	0
Houston Global Heat Transfer LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired		100.00%
Acquisition of businesses, net of cash acquired		$ 57,300
Reduction to contingent cash liability									$ (4,600)
ESP Completion Technologies LLC
Business Acquisition [Line Items]
Cash			$ 8,000
Global Tubing LLC
Business Acquisition [Line Items]
Total consideration paid				$ 290,320
Revenues																	$ 35,500
Net income																	$ 3,800
Equity interest in acquiree remeasurement gain (loss)																120,400
Income tax expense at the statutory rate																$ 45,000
Multilift
Business Acquisition [Line Items]
Cash consideration amount																						$ 39,200
Innovative Valve Components and Cooper Valves, LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired					100.00%
Total consideration paid					$ 14,000
Contingent shares issued for acquisition of Cooper					$ 4,500
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Consideration for disposal group	$ 47,700																	$ 4,000
Gain on disposition of business	39,300													$ 2,300
Note receivable received as consideration in sale of business \| £																			£ 6.9		£ 3.0
Gain realized on previously held equity investment	$ 1,600
Gain on contribution of subsea rentals business													$ 33,500
Cash consideration received in sale of business \| £																					£ 2.7
Subsea rental assets carry value																				$ 18,100
Ashtead Technology \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Equity interest received in sale of business	40.00%																		40.00%	40.00%	40.00%
Equity ownership interest fair value																				$ 43,800

Acquisitions & Dispositions (Purchase Price Allocation) (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

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

Acquisitions & Dispositions (Stock Consideration in Acquisitions) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Oct. 02, 2017	Dec. 31, 2019
Business Acquisition [Line Items]
Forum Energy Technologies' closing stock price on October 2, 2017 (in dollars per share)	$ 15.10
Contingent shares issued for acquisition of Cooper	$ 173,472	$ 375
Cash	31,764
Repayment of Global Tubing debt at acquisition	$ 85,084
Global Tubing LLC
Business Acquisition [Line Items]
Number of shares issued in acquisition (in shares)	11,488,208
Total Consideration paid for the acquisition	$ 290,320

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials and parts	$ 172,083	$ 212,526
Work in process	29,972	39,494
Finished goods	278,660	302,590
Gross inventories	480,715	554,610
Inventory reserve	(66,075)	(75,587)	$ (74,318)	$ (68,352)
Inventories	$ 414,640	$ 479,023

Inventories (Inventory reserve) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventory Valuation Reserves Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 75,587	$ 74,318	$ 68,352
Charged to expense	10,324	36,606	14,620
Deductions or other	(19,836)	(35,337)	(8,654)
Balance at end of period	$ 66,075	$ 75,587	$ 74,318

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment, Net [Abstract]
Right of use assets - finance leases	$ 2,528
Less: accumulated depreciation	(199,210)	$ (180,717)
Property and equipment, net	154,411	171,576
Rental equipment	353,621	352,293
Rental equipment, net	154,836	177,358
Depreciation expense	30,629	33,148	$ 34,401
Impairment charges	7,900
Total property and equipment, net	154,836	177,358
Subsea product line
Property, Plant and Equipment, Net [Abstract]
Impairment charges	5,200
Stimulation and Intervention
Property, Plant and Equipment, Net [Abstract]
Impairment charges	$ 2,700
Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Land
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 9,870	9,755
Buildings and leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 103,383	103,761
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	30 years
Computer equipment
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 55,941	54,721
Computer equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Computer equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 166,123	162,110
Machinery & equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Furniture & fixtures
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 6,731	6,631
Furniture & fixtures \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Furniture & fixtures \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Vehicles
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 5,382	6,160
Vehicles \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Vehicles \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 3,663	9,155
Right of use assets - finance leases \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	2 years
Right of use assets - finance leases \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	6 years
Rental equipment
Property, Plant and Equipment, Net [Abstract]
Rental equipment	$ 3,779	9,535
Less: accumulated depreciation	(3,354)	(3,753)
Rental equipment, net	$ 425	$ 5,782
Rental equipment \| Minimum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Rental equipment \| Maximum
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Goodwill beginning balance		$ 469,647	$ 755,245
Acquisitions, net of dispositions		614	22,312
Impairment	$ (471,000)	(471,010)	(298,789)	$ (68,000)
Impact of non-U.S. local currency translation		749	(9,121)
Goodwill ending balance		0	469,647	755,245
Production
Goodwill [Roll Forward]
Impairment	$ (4,600)
Operating Segments \| Drilling & Downhole
Goodwill [Roll Forward]
Goodwill beginning balance		191,151	494,983
Acquisitions, net of dispositions		427	1,753
Impairment		(191,485)	(298,789)
Impact of non-U.S. local currency translation		(93)	(6,796)
Goodwill ending balance		0	191,151	494,983
Operating Segments \| Completions
Goodwill [Roll Forward]
Goodwill beginning balance		259,280	240,816
Acquisitions, net of dispositions		187	20,559
Impairment		(260,238)	0
Impact of non-U.S. local currency translation		771	(2,095)
Goodwill ending balance		0	259,280	240,816
Operating Segments \| Production
Goodwill [Roll Forward]
Goodwill beginning balance		19,216	19,446
Acquisitions, net of dispositions		0	0
Impairment		19,287	0
Impact of non-U.S. local currency translation		71	(230)
Goodwill ending balance		$ 0	$ 19,216	$ 19,446

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Impairment	$ 471,000				$ 471,010	$ 298,789	$ 68,000
Accumulated impairment loss on goodwill		$ 535,600			1,006,600	535,600	236,800
Impairment of intangible assets	53,500	50,200	$ 14,500			64,700	1,100
Amortization of intangible assets					$ 32,612	41,360	$ 30,728
Production
Finite-Lived Intangible Assets [Line Items]
Impairment	4,600
Valve Solutions
Finite-Lived Intangible Assets [Line Items]
Impairment	14,700
Downhole Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment	191,500					$ 53,400
Stimulation and Intervention
Finite-Lived Intangible Assets [Line Items]
Impairment	126,300
Coiled Tubing
Finite-Lived Intangible Assets [Line Items]
Impairment	$ 133,900
Drilling Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment		$ 245,400
Subsea Technologies
Finite-Lived Intangible Assets [Line Items]
Impairment				$ 68,000

Goodwill and Intangible Assets (Finite-Lived and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (171,973)	$ (169,109)
Intangible Assets Total, Gross carrying amount	444,273	528,157
Intangible Assets Total, Net amortizable intangibles	272,300	359,048
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	281,052	337,546
Accumulated amortization	(110,410)	(110,228)
Net amortizable intangibles	170,642	227,318
Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	92,498	104,394
Accumulated amortization	(20,819)	(17,148)
Net amortizable intangibles	71,679	87,246
Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	190	6,245
Accumulated amortization	(100)	(5,600)
Net amortizable intangibles	90	645
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	43,284	47,493
Accumulated amortization	(21,015)	(18,107)
Net amortizable intangibles	22,269	29,386
Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	22,160	22,160
Accumulated amortization	(18,866)	(17,602)
Net amortizable intangibles	3,294	4,558
Trademark
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,089	10,319
Accumulated amortization	(763)	(424)
Net amortizable intangibles	$ 4,326	$ 9,895
Maximum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	22 years
Maximum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years
Maximum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	19 years	17 years
Maximum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	6 years	6 years
Maximum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	19 years	15 years
Maximum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	22 years	15 years
Minimum
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	2 years
Minimum \| Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	10 years	4 years
Minimum \| Patents and technology
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	5 years	5 years
Minimum \| Non-compete agreements
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	2 years	3 years
Minimum \| Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	7 years	10 years
Minimum \| Distributor relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	8 years
Minimum \| Trademark
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Estimated useful life, intangible assets	15 years	15 years

Goodwill and Intangible Assets (Schedule of Amortization Expense) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Estimated future amortization expense
2020	$ 27,974
2021	26,951
2022	25,976
2023	24,413
2024	$ 22,872

Debt (Schedule of Long-Term Debt) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 399,579,000	$ 518,711,000
Unamortized debt premium	770,000	1,176,000
Debt issuance cost	(3,232,000)	(3,121,000)
Less: current maturities	(717,000)	(1,167,000)
Long-term debt	398,862,000	517,544,000
Senior unsecured notes due October 2021
Debt Instrument [Line Items]
Total debt	400,000,000	400,000,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Total debt	0	119,000,000
Other debt
Debt Instrument [Line Items]
Total debt	$ 2,041,000	$ 1,656,000

Debt (Narrative) (Details) - USD ($)	12 Months Ended
Debt (Narrative) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Oct. 31, 2017	Oct. 30, 2017	Nov. 30, 2013	Oct. 31, 2013
Debt Instrument [Line Items]
Debt instrument, carrying value	$ 399,579,000	$ 518,711,000
Amortization of deferred loan costs	$ 1,900,000	1,900,000	$ 1,700,000
2017 Credit Facility
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage	0.375%
Revolving Credit Facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Line of credit facility, accordion feature, increase limit					$ 100,000,000.0
Revolving Credit Facility \| 2017 Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility \| 2017 Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility \| 2017 Credit Facility \| CDOR Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Debt Instrument, Redemption, Period Four \| Revolving Credit Facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
Debt Instrument, Redemption, Period Five \| Revolving Credit Facility \| 2017 Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Debt Instrument, Redemption, Period Five \| Revolving Credit Facility \| 2017 Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
Senior unsecured notes due October 2021
Debt Instrument [Line Items]
Debt, face amount						$ 100,000,000.0	$ 300,000,000.0
Debt instrument, issuance price of par, percentage						103.25%
Debt instrument, stated interest rate							6.25%
Debt instrument, carrying value	$ 400,000,000	400,000,000
Senior unsecured notes due October 2021 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Senior secured revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 20,000,000.0
Debt instrument, carrying value	$ 0	$ 119,000,000
Percentage of borrowing base	10.00%
Senior secured revolving credit facility \| Minimum
Debt Instrument [Line Items]
Springing fixed charge coverage ratio	1.00
Fixed charge coverage ratio consecutive days threshold	60 days
Senior secured revolving credit facility \| 2017 Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity	$ 253,000,000.0
Debt instrument, carrying value	0
Senior secured revolving credit facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 300,000,000.0
Senior secured revolving credit facility \| Foreign Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					45,000,000.0
Senior secured revolving credit facility \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					30,000,000.0
Senior secured revolving credit facility \| Letter of Credit \| 2017 Credit Facility
Debt Instrument [Line Items]
Outstanding letters of credit	23,900,000
Remaining borrowing capacity	$ 229,100,000
Senior secured revolving credit facility \| Letter of Credit \| Canadian Subsidiaries
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 3,000,000.0
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Senior secured debt to adjusted EBITDA ratio	4.00
Debt, weighted average interest rate (percentage)	4.16%
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Percentage of borrowing base	50.00%
Minimum leverage ratio	0.0200
Senior secured debt to adjusted EBITDA ratio	0.0150
Senior secured revolving credit facility \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Minimum leverage ratio	0.0175
Senior secured debt to adjusted EBITDA ratio	0.0225

Debt (Schedule of Future Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 806
2021	400,806
2022	441
2023	43
2024	19
Thereafter	5
Total future payment	402,120
Add: Unamortized debt premium	770	$ 1,176
Less: Debt issuance cost	(3,232)	(3,121)
Less: present value discount on finance leases	(79)
Total debt	$ 399,579	$ 518,711

Leases Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Rent expense	$ 13,675	$ 18,300	$ 19,300
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	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Assets
Operating lease assets	$ 48,682	$ 54,069	$ 0
Finance lease assets	2,085
Total lease assets	50,767
Current
Operating	12,538
Finance	717
Noncurrent
Operating	49,938		$ 0
Finance	1,324
Total lease liabilities	$ 64,517

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating lease cost	$ 13,675	$ 18,300	$ 19,300
Finance lease cost
Amortization of leased assets	445
Interest on lease liabilities	81
Sublease income	(1,635)
Net lease cost	$ 12,566

Leases - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Operating Leases
2020	$ 16,873
2021	14,064
2022	10,888
2023	7,550
2024	6,344
Thereafter	25,502
Total lease payments	81,221
Less: present value discount	(18,745)
Present value of lease liabilities	62,476	$ 64,506
Finance Leases
2020	806
2021	806
2022	441
2023	43
2024	19
Thereafter	5
Total lease payments	2,120
Less: present value discount	(79)
Present value of lease liabilities	2,041
Total
2020	17,679
2021	14,870
2022	11,329
2023	7,593
2024	6,363
Thereafter	25,507
Total lease payments	83,341
Less: present value discount	(18,824)
Present value of lease liabilities	$ 64,517

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 17,536
2020	14,826
2021	12,800
2022	11,202
2023	5,701
Thereafter	15,069
Total	$ 77,134

Leases - Schedule of Remaining Lease Term and Discount Rates (Details)	Dec. 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6 years 9 months 18 days
Financing leases	2 years 9 months 18 days
Weighted-average discount rate
Operating leases	6.58%
Financing leases	6.58%

Leases - Schedule of Lease Cash Flows (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$ 12,679
Operating cash flows from finance leases		81
Financing cash flows from finance leases		1,197
Noncash activities from right-of-use assets obtained in exchange for lease obligations:
Operating leases		9,745
Finance leases		1,822
Noncash activities from adoption of ASC 842 as of January 1, 2019
Prepaid expenses and other current assets	$ 884	621	$ (7,980)	$ 12,462
Operating lease assets	54,069	48,682	$ 0
Operating lease liabilities	64,506	$ 62,476
Accrued liabilities	$ 11,321

Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S.									$ (532,363)	$ (285,141)	$ (3,015)
Non-U.S.									(36,508)	(104,613)	(52,264)
Loss before income taxes	$ (21,011)	$ (536,358)	$ (5,341)	$ (6,161)	$ (387,051)	$ (4,162)	$ (13,703)	$ 15,162	$ (568,871)	$ (389,754)	$ (55,279)

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
U.S. federal and state									$ (1,423)	$ (6,932)	$ (1,426)
Non-U.S.									12,594	4,810	5,398
Total current									11,171	(2,122)	3,972
Deferred
U.S. federal and state									3,580	(21,467)	6,415
Non-U.S.									(16,565)	7,915	(6,266)
Total deferred									(12,985)	(13,552)	149
Income tax expense (benefit)	$ (8,563)	$ (3,371)	$ 8,393	$ 1,727	$ (3,308)	$ (1,108)	$ 1,646	$ (12,904)	$ (1,814)	$ (15,674)	$ 4,121

Income Taxes (Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income tax expense at the statutory rate									$ (119,463)	$ (81,849)	$ (19,348)
State taxes, net of federal tax benefit									(5,846)	(2,564)	(294)
Non-U.S. operations									(4,023)	(10,166)	6,337
Domestic incentives									(633)	(286)	(254)
Prior year federal, non-U.S. and state tax									257	(2,880)	(1,283)
Nondeductible expenses									348	502	644
Goodwill impairment									27,244	46,051	14,731
Global Tubing acquisition									0	0	(9,160)
U.S. tax reform									0	(15,604)	10,138
Valuation allowance									98,900	50,005	4,523
Other									1,402	1,117	(1,913)
Income tax expense (benefit)	$ (8,563)	$ (3,371)	$ 8,393	$ 1,727	$ (3,308)	$ (1,108)	$ 1,646	$ (12,904)	$ (1,814)	$ (15,674)	$ 4,121
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax expense at the statutory rate									(21.00%)	(21.00%)	(35.00%)
State taxes, net of federal tax benefit									(1.00%)	(0.70%)	(0.50%)
Non-U.S. operations									(0.70%)	(2.60%)	11.50%
Domestic incentives									(0.10%)	(0.10%)	(0.50%)
Prior year federal, non-U.S. and state tax									0.00%	(0.70%)	(2.30%)
Nondeductible expenses									0.10%	0.10%	1.20%
Goodwill impairment									4.80%	11.80%	26.60%
Global Tubing acquisition									0.00%	0.00%	(16.60%)
U.S. tax reform									0	(0.040)	0.183
Valuation allowance									17.40%	12.80%	8.20%
Other									0.20%	0.40%	(3.40%)
Income tax expense (benefit)									(0.30%)	(4.00%)	7.50%

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss and Tax Credit Carryforwards [Line Items]
Effective income tax rate	0.30%	4.00%	(7.50%)
U.S. tax reform expense (benefit)	$ 0	$ (15,604)	$ 10,138
Goodwill impairment	27,244	46,051	14,731
Valuation allowance	98,900	50,005	4,523
Provisional estimate related to deemed repatriation			27,700
Net tax benefit related to U.S. tax reform		(5,500)
Domestic operating loss carryforwards	238,300
State operating loss carryforwards	7,500
Operating loss carryforward subject to expiration	151,100
Operating loss carryforwards not subject to expiration	94,700
Foreign operating loss carryforwards	155,400
Unrecognized tax benefits	14,566	13,254
Decrease in unrecognized tax benefits is reasonably possible	1,800
Unrecognized tax benefits that would impact effective tax rate	12,500
Accrued interest and penalties	300	$ 300
Non-US
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance	900
U.S.
Operating Loss and Tax Credit Carryforwards [Line Items]
Valuation allowance	98,000
Tax benefit from measurement of deferred tax liabilities			$ (17,600)
Subsea Technologies
Operating Loss and Tax Credit Carryforwards [Line Items]
Goodwill impairment	$ 27,200

Income Taxes (Deferred Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Reserves and accruals	$ 4,590	$ 7,259
Operating lease liabilities	14,912
Inventory	16,429	18,694
Stock awards	5,185	5,637
Net operating loss and other tax carryforwards	83,325	66,098
Goodwill and intangible assets	45,528	0
Other	1,150	549
Total deferred tax assets	171,119	98,237
Valuation allowance	(152,795)	(54,441)
Total deferred tax assets	18,324	43,796
Deferred tax liabilities
Property and equipment	(7,733)	(9,565)
Operating lease assets	(12,006)
Goodwill and intangible assets	0	(42,502)
Investment in unconsolidated subsidiary	0	(5,402)
Prepaid expenses and other	(396)	(392)
Total deferred tax liabilities	(20,135)	(57,861)
Net deferred tax liabilities	$ (1,811)	$ (14,065)

Income Taxes (Uncertain Tax Positions) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 13,254
Additional based on tax positions related to prior years	2,069
Additional based on tax positions related to current year	2,057
Reduction based on tax positions related to prior years	(666)
Settlement with tax authorities	(100)
Lapse of statute of limitations	(2,048)
Ending Balance	$ 14,566

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	$ 399,579,000	$ 518,711,000
Senior secured revolving credit facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	0	119,000,000
Senior unsecured 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
Senior unsecured notes due October 2021 \| Significant other observable inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, carrying value	397,500,000	398,100,000
Debt instrument, fair value	$ 354,000,000.0	$ 362,000,000.0

Commitments and Contingencies (Details)	1 Months Ended	12 Months Ended					24 Months Ended	60 Months Ended	108 Months Ended
Commitments and Contingencies (Details)	Jan. 31, 2011 insurer	Dec. 31, 2019 USD ($) defendant case	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2019 USD ($) case	Dec. 31, 2019 USD ($) case	Dec. 31, 2019 USD ($) case
Loss Contingencies [Line Items]
Amount of letters of credit		$ 24,500,000					$ 24,500,000	$ 24,500,000	$ 24,500,000
Asbestos Litigation
Loss Contingencies [Line Items]
Number of defendants \| defendant		40
Asbestos Litigation
Loss Contingencies [Line Items]
Annual out-of-pocket costs (less than)			$ 200,000	$ 200,000	$ 200,000	$ 200,000		$ 200,000
New claims filed each year (fewer than) \| case		25
Pending lawsuits (fewer than) \| case		150					150	150	150
Face amount of insurance coverage per occurrence (over)		$ 17,000,000					$ 17,000,000	$ 17,000,000	$ 17,000,000
Aggregate primary insurance coverage (over)		23,000,000					23,000,000	23,000,000	23,000,000
Face amount of excess coverage (over)		$ 950,000,000					950,000,000	$ 950,000,000	950,000,000
Number of primary insurers under settlement agreement \| insurer	7
Percentage of costs of handling and settling each claim covered by insurance	80.00%
Insurers
Loss Contingencies [Line Items]
Payments for legal settlements							$ 40,000		$ 2,000,000.0

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net loss attributable to common stockholders									$ (567,057)	$ (374,080)	$ (59,400)
Basic - weighted average shares outstanding (in shares)	110,464	110,295	109,987	109,643	109,082	108,856	108,714	108,423	110,100	108,771	98,689
Dilutive effect of stock options and restricted stock (in shares)									0	0	0
Diluted - weighted average shares outstanding (in shares)	110,464	110,295	109,987	109,643	109,082	108,856	108,714	110,857	110,100	108,771	98,689
Loss per share
Basic (in dollars per share)	$ (0.11)	$ (4.83)	$ (0.12)	$ (0.07)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.26	$ (5.15)	$ (3.44)	$ (0.60)
Diluted (in dollars per share)	$ (0.11)	$ (4.83)	$ (0.12)	$ (0.07)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.25	$ (5.15)	$ (3.44)	$ (0.60)

- 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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+ Details

- Definition

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

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+ Details

- Definition

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

+ References + Details

Stockholders' Equity and Employee Benefit Plans (Equity Offering) (Details) - shares	Oct. 02, 2017	Jan. 09, 2017
Innovative Valve Components and Cooper Valves, LLC
Business Acquisition [Line Items]
Number of shares issued in acquisition (in shares)		196,249
Percentage of voting interests acquired		100.00%
Global Tubing LLC
Business Acquisition [Line Items]
Number of shares issued in acquisition (in shares)	11,488,208

Stockholders' Equity and Employee Benefit Plans (Employee Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Employee contribution benefit plan expense	$ 5.8	$ 6.2	$ 5.4
Allowable purchase interval duration	6 months
Price per share to fair market value	85.00%

Stockholders' Equity and Employee Benefit Plans (Stock Repurchases) (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2014	Oct. 31, 2014
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Shares authorized for repurchase					$ 150,000,000.0
Treasury stock (in shares)				4.5
Cost of treasury stock repurchased	$ 59,000	$ 141,000	$ 559,000	$ 100,200,000

Stock Based Compensation (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 17, 2016	Aug. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						18,500,000
Stock based compensation expense		$ 15,800,000	$ 19,900,000	$ 20,300,000
Total compensation cost not yet recognized		$ 19,200,000
Total compensation cost not yet recognized, period for recognition		2 years
Intrinsic value of options exercised		$ 0	200,000	$ 1,600,000
Intrinsic value, options outstanding		$ 0	$ 0
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option term		10 years
Award vesting period		4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)		$ 6.59	$ 12.00	$ 19.00
Fair value of shares vested		$ 1,500,000	$ 1,700,000	$ 2,300,000
Granted (in shares)		150,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)		$ 6.54	$ 10.54	$ 17.97
Fair value of shares vested		$ 11,800,000	$ 14,200,000	$ 10,000,000.0
Granted (in shares)		1,227,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		390,896
Performance Shares \| Period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period		1 year
Performance Shares \| Period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period		2 years
Performance Shares \| Period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee performance period		3 years
Minimum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares for award settlement (in shares)		0
Maximum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares for award settlement (in shares)		2
2016 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)					5,700,000
Number of share additional (in share)	2,900,000
Number of shares available for grant (in shares)		4,800,000

Stock Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of shares [Roll Forward]
Number of shares, beginning balance (in shares)	5,740
Number of shares, granted (in shares)	0
Number of shares, exercised (in shares)	0
Number of shares, forfeited/expired (in shares)	(364)
Number of shares, ending balance (in shares)	5,376	5,740
Number of shares, options exercisable (in shares)	5,033
Weighted average exercise price [Roll Forward]
Weighted average exercise price, beginning balance (in dollars per share)	$ 12.39
Weighted average exercise price, granted (in dollars per share)	0
Weighted average exercise price, exercised (in dollars per share)	0
Weighted average exercise price, forfeited/expired (in dollars per share)	13.05
Weighted average exercise price, ending balance (in dollars per share)	12.35	$ 12.39
Weighted average exercise price, options exercisable (in dollars per share)	$ 12.29
Remaining weighted average contractual life, outstanding	2 years 6 months	3 years 8 months 12 days
Remaining weighted average contractual life, exercisable	2 years 2 months 12 days
Intrinsic value, options outstanding	$ 0	$ 0
Intrinsic value, options exercisable	$ 0

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

Stock Based Compensation (Restricted Stock) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2019 shares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	195
Granted (in shares)	150
Vested (in shares)	(135)
Forfeited (in shares)	(2)
Nonvested at the end of year (in shares)	208
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of year (in shares)	2,455
Granted (in shares)	1,227
Vested (in shares)	(905)
Forfeited (in shares)	(588)
Nonvested at the end of year (in shares)	2,189

Stock Based Compensation (Stock Appreciation Rights) (Details) - Stock Appreciation Rights shares in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019 $ / shares shares	Dec. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested at beginning of year (in shares)		0
Granted (in shares)		6,352
Forfeited (in shares)		0
Nonvested at the end of year (in shares)	6,352	6,352
Fair value of the stock appreciation rights (in dollars per share) \| $ / shares		$ 0.19
Award vesting period	3 years
Stock option exercise price higher (in dollars per share) \| $ / shares		5.00
Right exercise price (in dollars per share) \| $ / shares	$ 1.45	$ 1.45

Business Segments (Narrative) (Details)	12 Months Ended
Business Segments (Narrative) (Details)	Dec. 31, 2019 segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	3

Business Segments (Income Statement by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 956,533	$ 1,064,219	$ 818,620
Operating income (loss)	$ (7,820)	$ (533,359)	$ 736	$ 4,297	$ (381,026)	$ 2,436	$ (11,702)	$ (6,706)	(536,146)	(396,998)	(141,595)
Impairments of goodwill, intangible assets, property and equipment									532,336	363,522	69,062
Transaction expenses									1,159	3,446	6,511
Contingent consideration benefit									(4,629)	0	0
Loss (gain) on disposal of assets and other									78	(438)	2,097
Depreciation and amortization									63,241	74,508	65,129
Capital expenditures									15,102	24,043	26,709
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)									(7,202)	(30,468)	(63,925)
Operating Segments \| Drilling & Downhole
Segment Reporting Information [Line Items]
Revenues									334,829	334,019	310,523
Operating income (loss)									7,343	(33,335)	(47,106)
Depreciation and amortization									21,433	31,985	38,463
Capital expenditures									3,169	8,067	7,093
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Revenues									305,089	373,107	184,182
Operating income (loss)									6,581	31,924	8,797
Depreciation and amortization									32,780	33,943	17,631
Capital expenditures									3,886	4,997	4,789
Operating Segments \| Production
Segment Reporting Information [Line Items]
Revenues									320,996	361,407	327,287
Operating income (loss)									7,802	6,022	7,811
Depreciation and amortization									8,478	8,407	8,608
Capital expenditures									4,041	4,877	6,855
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues									(4,381)	(4,314)	(3,372)
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)									(28,928)	(35,079)	(33,427)
Depreciation and amortization									550	173	427
Capital expenditures									$ 4,006	$ 6,102	$ 7,972

Business Segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 1,159,997	$ 1,829,652	$ 2,195,228
Operating Segments \| Drilling & Subsea
Segment Reporting Information [Line Items]
Assets	407,779	663,414	1,057,378
Operating Segments \| Completions
Segment Reporting Information [Line Items]
Assets	496,714	872,731	790,255
Operating Segments \| Production
Segment Reporting Information [Line Items]
Assets	186,786	243,354	251,685
Corporate
Segment Reporting Information [Line Items]
Assets	$ 68,718	$ 50,153	$ 95,910

Business Segments (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 494,080	$ 1,063,635	$ 1,404,847
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	397,219	868,295	1,087,381
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	54,519	100,451	213,008
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	32,703	87,221	88,280
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,707	984	7,984
Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	5,653	6,049	7,362
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 2,279	$ 635	$ 832

Business Segments (Revenue by Shipping Location) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 956,533	$ 1,064,219	$ 818,620
Percentage of net sales									100.00%	100.00%	100.00%
Sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 956,533	$ 1,064,219	$ 818,620
Percentage of net sales									100.00%	100.00%	100.00%
Sales \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 670,205	$ 811,724	$ 621,445
Percentage of net sales									70.10%	76.30%	76.00%
Sales \| Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 62,651	$ 68,635	$ 60,898
Percentage of net sales									6.50%	6.40%	7.40%
Sales \| Europe & Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 71,527	$ 57,632	$ 61,134
Percentage of net sales									7.50%	5.40%	7.50%
Sales \| Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 62,169	$ 54,541	$ 25,634
Percentage of net sales									6.50%	5.10%	3.10%
Sales \| Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 59,517	$ 46,503	$ 28,694
Percentage of net sales									6.20%	4.40%	3.50%
Sales \| Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 30,464	$ 25,184	$ 20,815
Percentage of net sales									3.20%	2.40%	2.50%

Business Segments (Revenue by Product Lines) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from External Customer [Line Items]
Revenues	$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 956,533	$ 1,064,219	$ 818,620
Percentage of net sales									100.00%	100.00%	100.00%
Sales
Revenue from External Customer [Line Items]
Revenues									$ 956,533	$ 1,064,219	$ 818,620
Percentage of net sales									100.00%	100.00%	100.00%
Operating Segments \| Sales \| Drilling Technologies
Revenue from External Customer [Line Items]
Revenues									$ 157,648	$ 178,260	$ 168,816
Percentage of net sales									16.60%	16.60%	20.60%
Operating Segments \| Sales \| Downhole Technologies
Revenue from External Customer [Line Items]
Revenues									$ 116,104	$ 104,974	$ 76,010
Percentage of net sales									12.10%	9.90%	9.30%
Operating Segments \| Sales \| Subsea Technologies
Revenue from External Customer [Line Items]
Revenues									$ 61,077	$ 50,785	$ 65,697
Percentage of net sales									6.40%	4.80%	8.00%
Operating Segments \| Sales \| Stimulation and Intervention
Revenue from External Customer [Line Items]
Revenues									$ 162,025	$ 228,721	$ 148,666
Percentage of net sales									16.90%	21.50%	18.20%
Operating Segments \| Sales \| Coiled Tubing
Revenue from External Customer [Line Items]
Revenues									$ 143,064	$ 144,386	$ 35,516
Percentage of net sales									15.00%	13.60%	4.30%
Operating Segments \| Sales \| Production Equipment
Revenue from External Customer [Line Items]
Revenues									$ 122,654	$ 141,169	$ 124,323
Percentage of net sales									12.80%	13.30%	15.20%
Operating Segments \| Sales \| Valve Solutions
Revenue from External Customer [Line Items]
Revenues									$ 198,342	$ 220,238	$ 202,964
Percentage of net sales									20.70%	20.70%	24.80%
Eliminations
Revenue from External Customer [Line Items]
Revenues									$ (4,381)	$ (4,314)	$ (3,372)
Eliminations \| Sales
Revenue from External Customer [Line Items]
Revenues									$ (4,381)	$ (4,314)	$ (3,372)
Percentage of net sales									(0.50%)	(0.40%)	(0.40%)

Condensed Consolidating Financial Statements (Condensed consolidating statements of income and comprehensive loss) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Sep. 03, 2019	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues		$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 956,533	$ 1,064,219	$ 818,620
Cost of sales		150,845	176,632	182,460	201,744	231,073	192,496	201,334	182,944	711,681	807,847	629,832
Gross profit		48,932	62,634	63,188	70,098	41,875	74,541	72,669	67,287	244,852	256,372	188,788
Operating expenses
Selling, general and administrative expenses										251,736	286,980	253,713
Goodwill and intangible assets impairment										532,336	363,522	69,062
Transaction expenses										1,159	3,446	6,511
Contingent consideration benefit										(4,629)	0	0
Loss (gain) on disposal of assets and other										78	(438)	2,097
Total operating expenses		56,752	595,954	63,022	64,952	422,995	72,764	84,721	73,030	780,680	653,510	331,383
Earnings (loss) from equity investments		0	(39)	570	(849)	94	659	350	(963)	(318)	140	1,000
Equity loss from affiliate, net of tax										0	0	0
Operating loss		(7,820)	(533,359)	736	4,297	(381,026)	2,436	(11,702)	(6,706)	(536,146)	(396,998)	(141,595)
Other expense (income)
Interest expense										31,618	32,532	26,808
Foreign exchange and other losses (gains), net										5,022	(6,270)	7,268
Gain realized on previously held equity investment			1,600							(1,567)	0	(120,392)
Gain on contribution of subsea rentals business									(33,500)	0	33,506	0
Gain on disposition of business										2,348	0	0
Total other expense (income), net		13,191	2,999	6,077	10,458	6,025	6,598	2,001	(21,868)	32,725	(7,244)	(86,316)
Loss before income taxes		(21,011)	(536,358)	(5,341)	(6,161)	(387,051)	(4,162)	(13,703)	15,162	(568,871)	(389,754)	(55,279)
Income tax expense (benefit)		(8,563)	(3,371)	8,393	1,727	(3,308)	(1,108)	1,646	(12,904)	(1,814)	(15,674)	4,121
Net loss		(12,448)	(532,987)	(13,734)	(7,888)	(383,743)	(3,054)	(15,349)	28,066	(567,057)	(374,080)	(59,400)
Other comprehensive income (loss), net of tax:
Net loss		$ (12,448)	$ (532,987)	$ (13,734)	$ (7,888)	$ (383,743)	$ (3,054)	$ (15,349)	28,066	(567,057)	(374,080)	(59,400)
Change in foreign currency translation, net of tax of $0										7,958	(24,752)	36,163
Change in pension liability										(1,666)	1,489	107
Comprehensive loss										(560,765)	(397,343)	(23,130)
Reportable Legal Entities \| FET (Parent)
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues										0	0	0
Cost of sales										0	0	0
Gross profit										0	0	0
Operating expenses
Selling, general and administrative expenses										69	0	0
Goodwill and intangible assets impairment										0	0	0
Transaction expenses										0	0	0
Contingent consideration benefit										0
Loss (gain) on disposal of assets and other										0	0	0
Total operating expenses										69	0	0
Earnings (loss) from equity investments										0	0	0
Equity loss from affiliate, net of tax										(535,435)	(348,557)	(41,253)
Operating loss										(535,504)	(348,557)	(41,253)
Other expense (income)
Interest expense										31,553	32,307	27,919
Foreign exchange and other losses (gains), net										0	0	0
Gain realized on previously held equity investment										0		0
Gain on contribution of subsea rentals business											0
Gain on disposition of business										0
Total other expense (income), net										31,553	32,307	27,919
Loss before income taxes										(567,057)	(380,864)	(69,172)
Income tax expense (benefit)										0	(6,784)	(9,772)
Net loss										(567,057)	(374,080)	(59,400)
Other comprehensive income (loss), net of tax:
Net loss										(567,057)	(374,080)	(59,400)
Change in foreign currency translation, net of tax of $0										7,958	(24,752)	36,163
Change in pension liability										(1,666)	1,489	107
Comprehensive loss										(560,765)	(397,343)	(23,130)
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues										811,566	936,319	703,409
Cost of sales										614,429	717,519	550,931
Gross profit										197,137	218,800	152,478
Operating expenses
Selling, general and administrative expenses										208,862	231,492	205,672
Goodwill and intangible assets impairment										487,212	233,635	33,301
Transaction expenses										1,067	2,926	6,521
Contingent consideration benefit										(4,629)
Loss (gain) on disposal of assets and other										201	(1,274)	1,981
Total operating expenses										692,713	466,779	247,475
Earnings (loss) from equity investments										(668)	529	1,000
Equity loss from affiliate, net of tax										(53,778)	(118,601)	(53,682)
Operating loss										(550,022)	(366,051)	(147,679)
Other expense (income)
Interest expense										(84)	158	(569)
Foreign exchange and other losses (gains), net										(138)	(296)	(118)
Gain realized on previously held equity investment										(14,045)		(120,392)
Gain on contribution of subsea rentals business											(5,856)
Gain on disposition of business										2,348
Total other expense (income), net										(16,615)	5,718	(121,079)
Loss before income taxes										(533,407)	(371,769)	(26,600)
Income tax expense (benefit)										2,028	(23,212)	14,653
Net loss										(535,435)	(348,557)	(41,253)
Other comprehensive income (loss), net of tax:
Net loss										(535,435)	(348,557)	(41,253)
Change in foreign currency translation, net of tax of $0										7,958	(24,752)	36,163
Change in pension liability										(1,666)	1,489	107
Comprehensive loss										(529,143)	(371,820)	(4,983)
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues										211,665	187,647	182,417
Cost of sales										162,715	151,787	145,743
Gross profit										48,950	35,860	36,674
Operating expenses
Selling, general and administrative expenses										42,805	55,488	48,041
Goodwill and intangible assets impairment										45,124	129,887	35,761
Transaction expenses										92	520	(10)
Contingent consideration benefit										0
Loss (gain) on disposal of assets and other										(123)	836	116
Total operating expenses										87,898	186,731	83,908
Earnings (loss) from equity investments										350	(389)	0
Equity loss from affiliate, net of tax										0	0	0
Operating loss										(38,598)	(151,260)	(47,234)
Other expense (income)
Interest expense										149	67	(542)
Foreign exchange and other losses (gains), net										5,160	(5,974)	7,386
Gain realized on previously held equity investment										12,478		0
Gain on contribution of subsea rentals business											39,362
Gain on disposition of business										0
Total other expense (income), net										17,787	(45,269)	6,844
Loss before income taxes										(56,385)	(105,991)	(54,078)
Income tax expense (benefit)										(3,842)	14,322	(760)
Net loss										(52,543)	(120,313)	(53,318)
Other comprehensive income (loss), net of tax:
Net loss										(52,543)	(120,313)	(53,318)
Change in foreign currency translation, net of tax of $0										7,958	(24,752)	36,163
Change in pension liability										(1,666)	1,489	107
Comprehensive loss										(46,251)	(143,576)	(17,048)
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Revenues										(66,698)	(59,747)	(67,206)
Cost of sales										(65,463)	(61,459)	(66,842)
Gross profit										(1,235)	1,712	(364)
Operating expenses
Selling, general and administrative expenses										0	0	0
Goodwill and intangible assets impairment										0	0	0
Transaction expenses										0	0	0
Contingent consideration benefit										0
Loss (gain) on disposal of assets and other										0	0	0
Total operating expenses										0	0	0
Earnings (loss) from equity investments										0	0	0
Equity loss from affiliate, net of tax										589,213	467,158	94,935
Operating loss										587,978	468,870	94,571
Other expense (income)
Interest expense										0	0	0
Foreign exchange and other losses (gains), net										0	0	0
Gain realized on previously held equity investment										0		0
Gain on contribution of subsea rentals business											0
Gain on disposition of business										0
Total other expense (income), net										0	0	0
Loss before income taxes										587,978	468,870	94,571
Income tax expense (benefit)										0	0	0
Net loss										587,978	468,870	94,571
Other comprehensive income (loss), net of tax:
Net loss										587,978	468,870	94,571
Change in foreign currency translation, net of tax of $0										(15,916)	49,504	(72,326)
Change in pension liability										3,332	(2,978)	(214)
Comprehensive loss										575,394	$ 515,396	$ 22,031
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Other expense (income)
Gain on contribution of subsea rentals business									$ 33,500
Gain on disposition of business	$ 39,300									$ 2,300

Condensed Consolidating Financial Statements (Condensed consolidating balance sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 57,911		$ 47,241
Accounts receivable—trade, net of allowances of $9,048 and $7,432	154,182		206,055
Inventories, net	414,640		479,023
Prepaid expenses and other current assets	33,820		23,677
Costs and estimated profits in excess of billings	4,104		9,159
Accrued revenue	1,260		862
Total current assets	665,917		766,017
Property and equipment, net of accumulated depreciation	154,836		177,358
Deferred financing costs, net	1,243		2,071
Operating lease assets	48,682	$ 54,069	0
Intangibles, net	272,300		359,048
Goodwill	0		469,647	$ 755,245
Investment in unconsolidated subsidiary	0		44,982
Deferred income taxes, net	654		1,234
Other long-term assets	16,365		9,295
Investment in affiliates	0		0
Long-term advances to affiliates	0		0
Total assets	1,159,997		1,829,652	$ 2,195,228
Current liabilities
Current portion of long-term debt	717		1,167
Accounts payable—trade	98,720		143,186
Accrued liabilities	86,625		81,032
Deferred revenue	4,877		8,335
Billings in excess of costs and profits recognized	5,911		3,210
Total current liabilities	196,850		236,930
Long-term debt, net of current portion	398,862		517,544
Deferred income taxes, net	2,465		15,299
Operating lease liabilities	49,938		0
Other long-term liabilities	25,843		29,753
Long-term payables to affiliates	0		0
Total liabilities	673,958		799,526
Total equity	486,039		1,030,126
Total liabilities and equity	1,159,997		1,829,652
Reportable Legal Entities \| FET (Parent)
Current assets
Cash and cash equivalents	0		0
Accounts receivable—trade, net of allowances of $9,048 and $7,432	0		0
Inventories, net	0		0
Prepaid expenses and other current assets	0		0
Costs and estimated profits in excess of billings	0		0
Accrued revenue	0		0
Total current assets	0		0
Property and equipment, net of accumulated depreciation	0		0
Deferred financing costs, net	1,243		2,071
Operating lease assets	0
Intangibles, net	0		0
Goodwill	0		0
Investment in unconsolidated subsidiary	0		0
Deferred income taxes, net	0		0
Other long-term assets	0		0
Investment in affiliates	348,623		877,764
Long-term advances to affiliates	541,351		674,220
Total assets	891,217		1,554,055
Current liabilities
Current portion of long-term debt	0		0
Accounts payable—trade	0		0
Accrued liabilities	7,640		6,873
Deferred revenue	0		0
Billings in excess of costs and profits recognized	0		0
Total current liabilities	7,640		6,873
Long-term debt, net of current portion	397,538		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	405,178		523,929
Total equity	486,039		1,030,126
Total liabilities and equity	891,217		1,554,055
Reportable Legal Entities \| Guarantor Subsidiaries
Current assets
Cash and cash equivalents	32,387		24,977
Accounts receivable—trade, net of allowances of $9,048 and $7,432	116,862		177,986
Inventories, net	344,920		416,237
Prepaid expenses and other current assets	31,485		23,585
Costs and estimated profits in excess of billings	4,029		6,202
Accrued revenue	428		0
Total current assets	530,111		648,987
Property and equipment, net of accumulated depreciation	133,974		156,434
Deferred financing costs, net	0		0
Operating lease assets	29,518
Intangibles, net	245,507		320,056
Goodwill	0		433,415
Investment in unconsolidated subsidiary	0		1,222
Deferred income taxes, net	0		1,170
Other long-term assets	6,682		4,194
Investment in affiliates	218,228		265,714
Long-term advances to affiliates	0		0
Total assets	1,164,020		1,831,192
Current liabilities
Current portion of long-term debt	566		1,150
Accounts payable—trade	75,999		121,019
Accrued liabilities	35,746		40,913
Deferred revenue	1,616		4,742
Billings in excess of costs and profits recognized	787		84
Total current liabilities	114,714		167,908
Long-term debt, net of current portion	1,128		480
Deferred income taxes, net	0		0
Operating lease liabilities	29,896
Other long-term liabilities	12,255		12,288
Long-term payables to affiliates	657,404		772,752
Total liabilities	815,397		953,428
Total equity	348,623		877,764
Total liabilities and equity	1,164,020		1,831,192
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	25,524		22,264
Accounts receivable—trade, net of allowances of $9,048 and $7,432	37,320		28,069
Inventories, net	78,047		69,878
Prepaid expenses and other current assets	2,335		92
Costs and estimated profits in excess of billings	75		2,957
Accrued revenue	832		862
Total current assets	144,133		124,122
Property and equipment, net of accumulated depreciation	20,862		20,924
Deferred financing costs, net	0		0
Operating lease assets	19,164
Intangibles, net	26,793		38,992
Goodwill	0		36,232
Investment in unconsolidated subsidiary	0		43,760
Deferred income taxes, net	654		64
Other long-term assets	9,683		5,101
Investment in affiliates	0		0
Long-term advances to affiliates	116,053		98,532
Total assets	337,342		367,727
Current liabilities
Current portion of long-term debt	151		17
Accounts payable—trade	22,721		22,167
Accrued liabilities	43,239		33,246
Deferred revenue	3,261		3,593
Billings in excess of costs and profits recognized	5,124		3,126
Total current liabilities	74,496		62,149
Long-term debt, net of current portion	196		8
Deferred income taxes, net	2,465		15,299
Operating lease liabilities	20,042
Other long-term liabilities	13,588		17,465
Long-term payables to affiliates	0		0
Total liabilities	110,787		94,921
Total equity	226,555		272,806
Total liabilities and equity	337,342		367,727
Eliminations
Current assets
Cash and cash equivalents	0		0
Accounts receivable—trade, net of allowances of $9,048 and $7,432	0		0
Inventories, net	(8,327)		(7,092)
Prepaid expenses and other current assets	0		0
Costs and estimated profits in excess of billings	0		0
Accrued revenue	0		0
Total current assets	(8,327)		(7,092)
Property and equipment, net of accumulated depreciation	0		0
Deferred financing costs, net	0		0
Operating lease assets	0
Intangibles, net	0		0
Goodwill	0		0
Investment in unconsolidated subsidiary	0		0
Deferred income taxes, net	0		0
Other long-term assets	0		0
Investment in affiliates	(566,851)		(1,143,478)
Long-term advances to affiliates	(657,404)		(772,752)
Total assets	(1,232,582)		(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	(657,404)		(772,752)
Total liabilities	(657,404)		(772,752)
Total equity	(575,178)		(1,150,570)
Total liabilities and equity	$ (1,232,582)		$ (1,923,322)

Condensed Consolidating Financial Statements (Condensed consolidating statements of cash flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	$ 104,144	$ 2,407	$ (40,033)
Cash flows from investing activities
Capital expenditures for property and equipment	(15,102)	(24,043)	(26,709)
Acquisition of businesses, net of cash acquired	0	(60,622)	(162,189)
Investment in unconsolidated subsidiary	0	0	(1,041)
Proceeds from the sale of equity investment, business, property and equipment	43,237	9,258	1,971
Long-term loans and advances to affiliates	0	0	0
Net cash provided by (used in) investing activities	28,135	(75,407)	(187,968)
Cash flows from financing activities
Borrowings of debt	137,000	221,980	107,431
Repayments of debt	(256,900)	(211,783)
Repurchases of stock	(1,094)	(2,777)	(4,742)
Proceeds from stock issuance	0	249	1,491
Payment of capital lease obligations	(1,197)	(1,147)	(1,187)
Deferred financing costs	0	0	(2,430)
Long-term loans and advances to affiliates	0	0	0
Dividend paid to affiliates	0	0	0
Net cash provided by (used in) financing activities	(122,191)	6,522	100,563
Effect of exchange rate changes on cash	582	(1,497)	8,232
Net increase (decrease) in cash, cash equivalents and restricted cash	10,670	(67,975)	(119,206)
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	47,241	115,216	234,422
Cash, cash equivalents and restricted cash at end of period	57,911	47,241	115,216
Reportable Legal Entities \| FET Inc. (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(28,883)	10,461	(15,718)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0	0
Acquisition of businesses, net of cash acquired	0	0	0
Investment in unconsolidated subsidiary	0		0
Proceeds from the sale of equity investment, business, property and equipment	0	0	0
Long-term loans and advances to affiliates	148,977	(18,130)	(86,097)
Net cash provided by (used in) investing activities	148,977	(18,130)	(86,097)
Cash flows from financing activities
Borrowings of debt	137,000	221,980	107,431
Repayments of debt	(256,000)	(211,783)
Repurchases of stock	(1,094)	(2,777)	(4,742)
Proceeds from stock issuance	0	249	1,491
Payment of capital lease obligations	0	0	0
Deferred financing costs			(2,430)
Long-term loans and advances to affiliates	0	0	0
Dividend paid to affiliates	0	0	0
Net cash provided by (used in) financing activities	(120,094)	7,669	101,750
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0	(65)
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	0	0	65
Cash, cash equivalents and restricted cash at end of period	0	0	0
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	143,219	(76)	483
Cash flows from investing activities
Capital expenditures for property and equipment	(13,619)	(20,288)	(20,499)
Acquisition of businesses, net of cash acquired	0	(60,622)	(157,297)
Investment in unconsolidated subsidiary	0		(1,041)
Proceeds from the sale of equity investment, business, property and equipment	18,522	5,192	2,038
Long-term loans and advances to affiliates	0	9,690	22,072
Net cash provided by (used in) investing activities	4,903	(66,028)	(154,727)
Cash flows from financing activities
Borrowings of debt	0	0	0
Repayments of debt	(900)	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	(1,197)	(1,030)	(1,147)
Deferred financing costs			0
Long-term loans and advances to affiliates	(138,615)	18,130	86,097
Dividend paid to affiliates	0	0	0
Net cash provided by (used in) financing activities	(140,712)	17,100	84,950
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	7,410	(49,004)	(69,294)
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	24,977	73,981	143,275
Cash, cash equivalents and restricted cash at end of period	32,387	24,977	73,981
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	(10,192)	15,972	3,702
Cash flows from investing activities
Capital expenditures for property and equipment	(1,483)	(3,755)	(6,210)
Acquisition of businesses, net of cash acquired	0	0	(4,892)
Investment in unconsolidated subsidiary	0		0
Proceeds from the sale of equity investment, business, property and equipment	24,715	4,066	(67)
Long-term loans and advances to affiliates	(10,362)	0	0
Net cash provided by (used in) investing activities	12,870	311	(11,169)
Cash flows from financing activities
Borrowings of debt	0	0	0
Repayments of debt	0	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	0	(117)	(40)
Deferred financing costs			0
Long-term loans and advances to affiliates	0	(9,690)	(22,072)
Dividend paid to affiliates	0	(23,950)	(28,500)
Net cash provided by (used in) financing activities	0	(33,757)	(50,612)
Effect of exchange rate changes on cash	582	(1,497)	8,232
Net increase (decrease) in cash, cash equivalents and restricted cash	3,260	(18,971)	(49,847)
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	22,264	41,235	91,082
Cash, cash equivalents and restricted cash at end of period	25,524	22,264	41,235
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Cash flows from operating activities	0	(23,950)	(28,500)
Cash flows from investing activities
Capital expenditures for property and equipment	0	0	0
Acquisition of businesses, net of cash acquired	0	0	0
Investment in unconsolidated subsidiary	0		0
Proceeds from the sale of equity investment, business, property and equipment	0	0	0
Long-term loans and advances to affiliates	(138,615)	8,440	64,025
Net cash provided by (used in) investing activities	(138,615)	8,440	64,025
Cash flows from financing activities
Borrowings of debt	0	0	0
Repayments of debt	0	0
Repurchases of stock	0	0	0
Proceeds from stock issuance	0	0	0
Payment of capital lease obligations	0	0	0
Deferred financing costs			0
Long-term loans and advances to affiliates	138,615	(8,440)	(64,025)
Dividend paid to affiliates	0	23,950	28,500
Net cash provided by (used in) financing activities	138,615	15,510	(35,525)
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0	0
Cash and cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	0	0	0
Cash, cash equivalents and restricted cash at end of period	$ 0	$ 0	$ 0

Condensed Consolidating Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0
Eliminations
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
FET (Parent) \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	0	0	0
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Statements of Income and Comprehensive Income [Line Items]
Change in foreign currency translation, tax	$ 0	$ 0	$ 0

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 199,777	$ 239,266	$ 245,648	$ 271,842	$ 272,948	$ 267,037	$ 274,003	$ 250,231	$ 956,533	$ 1,064,219	$ 818,620
Cost of sales	150,845	176,632	182,460	201,744	231,073	192,496	201,334	182,944	711,681	807,847	629,832
Gross profit	48,932	62,634	63,188	70,098	41,875	74,541	72,669	67,287	244,852	256,372	188,788
Total operating expenses	56,752	595,954	63,022	64,952	422,995	72,764	84,721	73,030	780,680	653,510	331,383
Earnings (loss) from equity investments	0	(39)	570	(849)	94	659	350	(963)	(318)	140	1,000
Operating loss	(7,820)	(533,359)	736	4,297	(381,026)	2,436	(11,702)	(6,706)	(536,146)	(396,998)	(141,595)
Total other expense (income), net	13,191	2,999	6,077	10,458	6,025	6,598	2,001	(21,868)	32,725	(7,244)	(86,316)
Loss before income taxes	(21,011)	(536,358)	(5,341)	(6,161)	(387,051)	(4,162)	(13,703)	15,162	(568,871)	(389,754)	(55,279)
Income tax expense (benefit)	(8,563)	(3,371)	8,393	1,727	(3,308)	(1,108)	1,646	(12,904)	(1,814)	(15,674)	4,121
Net loss	$ (12,448)	$ (532,987)	$ (13,734)	$ (7,888)	$ (383,743)	$ (3,054)	$ (15,349)	$ 28,066	$ (567,057)	$ (374,080)	$ (59,400)
Weighted average shares outstanding
Basic (in shares)	110,464	110,295	109,987	109,643	109,082	108,856	108,714	108,423	110,100	108,771	98,689
Diluted (in shares)	110,464	110,295	109,987	109,643	109,082	108,856	108,714	110,857	110,100	108,771	98,689
Loss per share
Basic (in dollars per share)	$ (0.11)	$ (4.83)	$ (0.12)	$ (0.07)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.26	$ (5.15)	$ (3.44)	$ (0.60)
Diluted (in dollars per share)	$ (0.11)	$ (4.83)	$ (0.12)	$ (0.07)	$ (3.52)	$ (0.03)	$ (0.14)	$ 0.25	$ (5.15)	$ (3.44)	$ (0.60)
Contingent consideration benefit				$ (4,600)
Impairment of intangible assets		$ 53,500			$ 50,200		$ 14,500			$ 64,700	$ 1,100
Goodwill impairment		471,000							$ 471,010	298,789	68,000
Impairment charges									7,900
Gain realized on previously held equity investment		$ 1,600							(1,567)	0	(120,392)
Gain on disposition of business									2,348	0	0
Gain on contribution of subsea rentals business								$ (33,500)	$ 0	$ 33,506	$ 0

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